Description

Promising and resilient long-haul refrigerated trucking enterprise with a state-of-the-art fleet of tractors and trailers, delivering throughout the United States and into Canada. Seeking a buyer capable of providing synergistic freight and shipping lanes to drive both organizations towards unparalleled growth.

Recession Proof Client Base

Diverse clientele primarily consists of food businesses, encompassing a wide range of products such as meats, frozen foods, groceries, chicken, and potatoes.
Majority of the customers have direct contracts and dedicated freight.
Approximately 80% is direct, the other 20% is brokered.
Across the United States and into Canada, the company orchestrates over 64,000 loads annually, spanning 47 states/provinces.

Asset Information

The company boasts an impressive fleet of 593 top-of-the-line refrigerated trailers, with a significant portion consisting of brand new 2023 and 2024 models.
A collection of 62 tractors is under the company’s ownership. Notably, 45 of these tractors have been sub-leased or offered through a convenient payment program to devoted drivers who primarily serve the company.
Exclusively operates using new tractors, reducing maintenance and unplanned downtime on their shipments throughout the United States.
All tractors are equipped with state-of-the-art Samara systems, which are closely monitored by dedicated employees around the clock.

Financial Information

After the small, initial Covid decline in 2020, the company was able to effectively capitalize on the following economic volatility to drive growth in both revenue and overall profitability. In anticipation of the cyclicality of the trucking and logistics industry, the company reinvested much of the profit into modernizing its fleet as well as fortifying its financial position.

Opportunities

Strategic Partnerships in Warehousing: The company has established itself as a leader by focusing on its core competencies, without owning or operating any warehousing. There lies a tremendous opportunity for them to forge strategic partnerships with established warehousing groups. By doing so, they can seamlessly integrate their expertise in long-haul logistics, providing their customers with a comprehensive and end-to-end supply chain solution.

Acquiring Weaker Competitors: In the current market turmoil, the cyclical nature of the trucking industry presents a unique chance for the company to capitalize on the situation. It can leverage its financial stability to consider acquiring weaker and less financially stable companies. This strategic move will not only expand its market share but also enable it to strengthen its competitive position further.

Addressing Post-Covid Challenges: The challenges posed by Covid have shaped the trucking industry in multiple ways. While the pandemic initially caused a significant shortage of trucks and drivers, resulting in inflated brokerage rates, the situation has evolved. Falling brokerage rates and high operating costs caused millions of trucking authorities to be surrendered. Anticipating a potential scarcity in the trucking industry once the economy bounces back, the company is well-positioned to capitalize on the growing demand with its strong financial standing and brand-new fleet of tractors and trailers. This strategic foresight from the owners 40 years of industry experience will allow the company to further establish itself as a dependable and sought-after partner for shipping needs during the post-recovery period.

Locations & Real Estate

The company predominantly operates from three facilities on the eastern half of the United States, all owned properties are available for either sale or lease in conjunction with the sale of the operating company.

Ownership Objectives

Ownership is pursuing a majority or complete sale ideally with an acquirer that can provide both synergistic freight and shipping lanes.
Ownership is committed to finding an acquirer who has demonstrated their ability to run large logistics companies.
The owner anticipates, even in the event of a full sale, remaining with the company for three to four years post-close.
The owner wants to sell to an acquirer that will maintain and enhance the company’s reputation, legacy and provide opportunities for its valued employees, dedicated drivers, and customers.

Personnel

As of June 30, 2023, the company proudly comprises a committed workforce of 103 highly skilled professionals. Among the standout departments, the dispatch team consists of 23 individuals who flawlessly coordinate operations and ensure seamless logistics. The accounting division encompasses 21 individuals who handle all financial matters. Additionally, there are in-house mechanics, a group of 14 proficient technicians diligently maintain and repair equipment, ensuring sustained optimal performance.
The company maintains a robust pool of more than 100 drivers and has the capacity to effortlessly attract additional drivers whenever the need arises.
The company itself employs 13 drivers. Among them, 7 drivers are engaged in operating loader trucks for short haul distances spanning less than an estimated 300 miles, while the remaining 6 drivers specialize in long-haul journeys.
The company collaborates with a group of 76 owner-operators who possess their own tractors but function under the company’s authority and insurance. As they possess their own vehicles, they bear the responsibility for the maintenance thereof.
45 drivers haul under the company’s lease and financing program.

Benchmark International

Benchmarks Exclusive Opportunities

Profitable and Recession Resistant Long Haul Refrigerated Trucking Company

Profitable and Recession Resistant Long Haul Refrigerated Trucking Company

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