Also discussed at the Surface Transportation Summit was the timely subject of mergers and acquisitions. Those who closely watch M&A transactions can barely conceal their disappointment in the lack of activity so far this year. Mike McCarron (Wheels Group) and Doug Nix (Corporate Finance Associates) both believe the transportation and logistics sector is ripe for an increase in deals, with graying owners looking for an exit strategy and well-financed buyers sitting on unspent money while looking to consolidate the marketplace.

“I think trucking companies realize that without scale and technology, it’s going to be impossible to survive,” Mike said, citing that as one reason he and his partner opted to sell MSM when they did. “We knew we were too big to be small and too small to be big. We had to decide, do we want to risk everything at this stage in our lives? Do we want to go to ground zero and raise money? The people I’ve talked to in the business are thinking the same thing, ‘What am I going to do to get out?’ I think that is going to drive a lot of acquisitions, that state of mind in the industry.”

If you are sitting on the fence, trying to decide whether or not the time is right to sell, Doug offered this advice: “Ask your wife.” He said if you no longer wake up in the morning eager to go to work, it may be time to start preparing your business for a sale. However, Mike added not to wait till the last minute. Prepping the business for a sale can take years; even seemingly mundane things like sorting out the minutes books can be time-consuming. And if you’re not ready to talk business when a prospective buyer comes along, they may well lose interest and move on by the time you get your house in order. You can check out a full report on Mike and Doug’s presentation here.