The Texas-based trucking firm has purchased three trucking companies in the glass, explosives and steel hauling sectors, after closing on four other deals earlier this year.
Texas-based U.S. trucking firm Daseke has acquired three smaller operators in the steel, explosives and ammunition, and glass hauling sectors, the company announced on Monday.
The three operators Daseke acquired are Tennessee Steel Haulers & Co. (TSH), The Roadmaster Group’s Tri-State Motor Transit Co., and Moore Freight Service. All three firms were approached by Daseke despite not being up for sale, statements from each operator revealed. The privately-held Moore Freight Service specializes in transporting sheets of glass, while Roadmaster Group is a leading U.S. carrier of ammunition and explosives.
Financial details of the acquisitions have not been disclosed, but Reuters reported that the deals included cash, stock swaps and assumption of debt. The deals are expected to close on Friday, according to Daseke.
Daseke shares rose 1.2 percent to $12.99 on Monday, and as of September, shares were up nearly 38 percent as Daseke had acquired four other companies between May and September, according to Reuters. The four companies include open-deck trucking operators The Schilli Cos. and Big Freight Systems Inc., The Steelman Companies, and R&R Trucking.
In fact, Daseke has acquired 16 companies since 2009, the driver behind 85 percent of its growth, said Reuters. The company went public in late February through a merger with Hennessy Capital Acquistion Corp II.
Daseke acquires three smaller operators
