Acquisitions in the trucking industry show no signs of slowing down, especially in niche sectors where carriers are competing directly, time and again, for the same customers and drivers.
Companies with similar business models, leadership philosophies, complimentary freight lanes and equipment are the ideal targets for buyers. In many cases, drivers are what buyers value most, but there are no guarantees they will stay.
US Transport, a tank carrier of dry bulk materials, has acquired 16 companies under the ownership of Chief Executive Steve Nelligan. The most recent was Havens Trucking on Jan. 1, 2021.
Denver-based US Transport has a specialized fleet of tank trailers with freight that has been mostly comprised of dedicated contracts in mining, utilities, construction and 60 different dry bulk commodities to various end users in six states.
Havens Trucking, also a dry bulk carrier, had its headquarters in Albuquerque and a terminal in Farmington, N.M. The fleet brought 92 power units into US Transport’s fleet of 165. The combined company now has about 250 tractors, and an owner-operator fleet that expands up to 40 trucks during peak seasons.
As with previous acquisitions, Nelligan said the main goal for number 16 was to retain the drivers, mechanics, dispatch, management and office support staff.
Before the deal was finalized or announced to employees, Nelligan formed a 15-member integration team on Dec. 1, 2020, with key managers from both companies. From that day forward, the team held daily 12 p.m. standup meetings to ensure that the people systems, pay, training and other integration details were being covered at the ground level, Nelligan explained.
