truckload M&A

Flatbed operator Daseke posts Q3 beat, eyes M&A

Daseke beats Q3 but pauses guidance.

Flatbed truckload provider Daseke said on a call with analysts Friday it was working on a couple of potential acquisitions. The nation’s largest flatbed carrier reported third-quarter adjusted earnings per share of 43 cents, 11 cents ahead of the consensus estimate and 19 cents better than the year-ago quarter.

Getting back to M&A

Management said it’s working on a couple of potential deals. It is targeting fleets with fewer than 100 trucks (roughly 50,000 fleets, according to its estimates) in...

https://www.freightwaves.com/news/flatbed-operator-daseke-posts-q3-beat-eyes-ma

Leonard’s Express acquires East Coast refrigerated carrier

Leonard’s Express acquires Holman Transportation

Refrigerated truckload carrier Leonard’s Express announced Thursday it had acquired Holman Transportation.

Founded in 1997, Holman Transportation is a family-owned TL carrier located in Caldwell, Idaho, operating 164 trucks with 189 employees. The company transports temperature-controlled goods for the food and grocery, dairy, and frozen food products sectors. Its primary coverage area is the Pacific Northwest but its fleet hauls in 39 states.

“We are excited about this acquisition. It will help...

https://s29755.pcdn.co/news/leonards-express-acquires-east-coast-refrigerated-carrier

PS Logistics adds to flatbed portfolio in deal for JJT

PS Logistics acquires another flatbed carrier

The holding company of flatbed transportation and logistics provider PS Logistics announced the acquisition of another flatbed carrier this week. The Birmingham, Alabama-based company has acquired Jason Jones Trucking out of Shoals, Indiana.

JJT operates a fleet of 38 tractors and 89 trailers, mostly hauling general flatbed freight like drywall, lumber and brick.

Family-owned JJT and its 41 drivers will continue to be managed by Jason Jones under the JJT banner, reporting as a separate division...

https://www.freightwaves.com/news/ps-logistics-adds-to-flatbed-portfolio-in-deal-for-jjt

Heartland Express sees Q4 gains, eyes acquisitions

Heartland Express' Q4 result in-line; M&A back in play?

Heartland Express (NASDAQ: HTLD) kicked off the fourth-quarter truckload earnings season on Tuesday, posting an in-line earnings result at 22 cents per share.

The North Liberty, Iowa-based carrier reported a 6.8% year-over-year decline in revenue at $156 million as a result of lower fuel surcharges and fewer miles driven. Excluding fuel surcharges, revenue declined 2.6% in the period. The press release attributed the decline in miles driven to an “overall fleet reduction,” which has been a...

https://s29755.pcdn.co/news/heartland-express-sees-q4-gains-eyes-acquisitions

Titan Transfer adds JTL Carriers to portfolio

Consolidation in truckload sector on the rise

National truckload carrier Titan Transfer has acquired dry van hauler JTL Carriers. Financial terms of the transaction were not disclosed. Transportation and logistics M&A advisory firm Tenney Group advised JTL on the deal.

Franklin, Wisconsin-based JTL Carriers is an asset-based, full TL carrier primarily serving the auto industry with a fleet of 75 tractors and 90 drivers.

Founded in 2000, Shelbyville, Tennessee-based Titan is a provider of freight transportation across the entire U.S. with a...

https://s29755.pcdn.co/news/titan-transfer-adds-jtl-carriers-to-portfolio

Improved execution to ‘open doors’ for Daseke; acquisitions on horizon

Daseke affiliate truck carrying tires on highway

The nation’s largest flatbed carrier, Daseke Inc. (NASDAQ: DSKE), could see more “doors open” if it continues to succeed on its turnaround plan. An improving capital structure could lead to the resumption of acquisitions, providing the catalyst for the carrier’s next phase of growth. Of course, all of this hinges on its ability to continue to execute, according to CFO Jason Bates.

In an interview with FreightWaves, Bates said he believes a couple more quarters of improved execution will provide...

https://s29755.pcdn.co/news/improved-execution-to-open-doors-for-daseke-acquisitions-on-horizon