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More Truck Mergers * USA - Seen as Carriers Seek Bargains
A wave of transportation mergers and acquisitions may be on the horizon
Arlington,VA,usa -Transport Topics, by Dan Leone -1 June 2009: ... As the recession weeds out distressed companies and carriers shop for bargains to help them secure more freight, several industry watchers said... “You will see a significant increase in deals closing in the next two quarters,” said analyst Andy Ahern, head of Ahern & Associates Ltd. in Phoenix. “The thought process in this industry is: ‘I need to get clients, and I can’t develop them myself.’ ”... Other analysts also said they expect a ramp-up in trucking consolidations but that it could take longer than two quarters... In the second quarter, only a few transportation industry mergers and acquisitions have been announced... A truly “competitive” M and A environment was likely not in the offing, Jason Bass, managing director and co-head of the transportation and logistics group at BB&T Capital Markets in Richmond, said, “until sometime next year.”... “There is an increased interest in buying companies,” said Lana Batts, principal of consulting firm Batts & Associates, Arlington, Va.... However, at least one firm has signaled its intention to shop for bargain-priced businesses...
Labels: trucks mergers
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