HOUSTON, TX – Daseke, one of the largest providers of open-deck capacity in North America, is preparing to trade on the NASDAQ stock exchange with the support of a merger with Hennessy Capital Acquisition Corp.
“The size of the open deck transportation market is US $130 billion a year, and we are building a company focused on meeting the evolving needs of those customers. Our strategy as a public company, and having our employees as owners, will help take our journey to the next level. We have proudly brought together a family of many of the top-rated open deck operating companies; we look forward to more outstanding companies joining our family as we grow,” says Don Daseke, president and Chief Executive Officer of the business which bears his name.
Daseke recorded US $650 million in revenue last year, compared to $30 million in 2009. It has a fleet of more than 3,000 tractors and 6,000 flatbed and specialized trailers.
Hennessy is described as a “blank check” company, and would secure a minority position under the new deal. Existing Daseke shareholders would still hold about 60% of the publicly traded company, and there are no plans for related management changes, Daseke says. Main Street Capital would exit its equity position in Daseke after being repaid an existing debt investment.
The transaction is still subject to regulatory and stockholder approvals, but those involved in the merger believe it will be completed in the first quarter of this year.
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