MISSISSAUGA, Ont. -- The pace of mergers and acquisitions in the trucking industry should quicken over the coming years, M&A experts Doug Nix and Doug Davis, told the Driving for Profit seminar yesterday.
The seminar, which attracted more than 100 attendees, featured a discussion of mergers and acquisitions trends.
Nix, vice chairman of Corporate Finance Associates, and Doug Davis, independent director with Pro-Trans Ventures Inc., offered advice on the topic to prospective buyers and sellers in the transportation industry, with an in-depth discussion of potential opportunities and the risks involved.
The event, organized by NAL Insurance and sponsored by Dalton Timmis Insurance, Daimler Truck Financial and Truck News was moderated by editorial director Lou Smyrlis
“In a for-hire industry of more than 12.000 carriers competing for $34 billion in annual revenues, and dealing with an average operating ratio of about 6 cents on the dollar even in good years, transportation CEOs have made it clear they would like to consolidate the industry,” noted Smyrlis. “Medium carriers, meanwhile, say they want to either grow or sell.”
Following the M&A session Smyrlis spoke with Wendell Erb, president & CEO of The Erb Group of Companies, about achieving growth, setting rates and keeping good staff.
Don’t miss our in-depth coverage of the event in the upcoming print issue of Truck News and on TMTV.