Blog Entries tagged 'Transportation Acquisitions'

Writedowns... Explained

clearrock — Mon, 09 Feb 2009 22:00:00 +0100

One can't go an hour or two during this earnings season without hearing about yet another large write-down from a public company. On the private side, though, most smaller companies rarely take write downs- so we thought the concept might bear some explanation:

Toxic Assets... Effecting More Than Just Wall Street

clearrock — Thu, 22 Jan 2009 22:00:00 +0100

As we head into earnings season (and into a new administration) we arebound to hear more and more about "toxic assets" and how they are impairing recovery for banks - and the economy as a whole.

Here is a little more on just what "toxic assets" means:

WSJ: PE Heads to Smaller Deals

dandoran — Tue, 16 Sep 2008 22:00:00 +0100

Interesting article in the WSJ deal book this morning - basically confirming what we have been seeing in the market place. In sum: deals are trending downward in size, and the lower-middle market remains surprisingly strong.

The simple reason? Less leverage on deals. Historically these companies have transacted for far lower multiples than their PubCo and much larger cousins. And in an atmosphere off "de-leveraging" and tighter credit, less leverage on a deal means a gre [...]

How Has the (Threatened) Owner/Operator Strike Affected You?

dandoran — Sun, 06 Apr 2008 22:00:00 +0100

Here at Clear Rock - we find ourselves at an interesting intersection in re: the psuedo-strike being staged by the Owner / Operators. Not only do we have a segment focus in transportation and logistics, but we keep hearing from the print industry (another segment we focus on) how slowdowns are affecting their operations as well.

Want more? We aren't all that far from the New Jersey Turnpike, which was a pretty bad scene last week as truckers slowed down to 20 mp [...]

Road Link Aqcuires West Coast Trucking

dandoran — Thu, 21 Feb 2008 21:00:00 +0100

Roadlink announced this week that they have acquired West Coast Trucking (WCT). Roadlink is an Atlanta based firm, while WCT's operations are primarily in Seattle and Oregon. Both are intermodal service providers.

What Happens to the Employees in an M&A Deal?

This seems to be a question that we field more and more. Most privately held companies are a "family"- and departing owners rightfully feel some sense of obligation towards employees- expecially [...]

'07 Transportation Deal Volume Highest Ever

dandoran — Wed, 06 Feb 2008 21:00:00 +0100

According to the latest report from PricewaterhouseCoopers, transportation and logistics M&A deals closed at a 20 year high. The firm reported 1,291 deals for the year- topping the record setting 2006 pace.

Of note for the middle market, the average deal size in the sector significantly declined, highlighting the effects of consolidation in the industry. With many of the big deals seemingly done, the middle market remains ripe for further consolidation. This trend is likely to further con [...]

YRC to Announce Restructuring

dandoran — Mon, 28 Jan 2008 21:00:00 +0100

Coming off its worst quarter in its history, it appears likely that YRC will formally announce a restructuring plan within the next few weeks.

Some analysts have suggested that the restructuring will result in the closure of several regional facilities with the USF Reddaway and Holland lines. The news comes on the heels of a the fifth consecutive quarter of declining sales, with revenues dropping 2.4% in the 4th quarter. Overall, YRC saw an 8% drop in its national LTL division.

Further, [...]

YRC Acquiring Chinese Logistics Co

dandoran — Thu, 20 Dec 2007 21:00:00 +0100

In a sign that much in the logistics world is driven by China, YRC announced today that it had entered into a definitive agreement to purchase Shanghai Jiayu Logistics Co, Ltd.According to YRC, Shanhai Jiayu is one of the largest providers of LTL ground transport in China. They have in excess of 1,800 employees and 3,000 vehicles. YRC will pay between $29.5 million and $43 million for a 65% stake in the acqui [...]

SBRC Adding Wholesale / Distribution Coverage

dandoran — Sun, 21 Oct 2007 21:00:00 +0100

A Tip from Clear Rock: One of our favorite places to find current strength data on general market trends is the Small Business Research Center. We're certainly excited to see that they have expanded their coverage, and will be adding data on market strength in the Wholesale / Distribution segments.We only have one data point so far, but you can see that the Wholesale / Distribution segment is in the " [...]