Guest Columnist, Beth Carroll – Incentive Compensation in a Post-COVID World
Beth is the founding partner of Prosperio Group, a business consulting firm that focuses on the strategic management of compensation for global transportation & logistics companies. Beth is based in Chicago, IL and has over 20 years’ experience developing incentive compensation plans for companies across the globe in a variety of industries. Prosperio consultants have […]
4 Keys to Expediting Due Diligence
Once a Letter of Intent (LOI) is executed between buyer and seller, the parties advance to the due diligence phase with a basic deal structure outlined and the protection of confidentiality and exclusivity provisions. The due diligence phase allows the buyer to take a detailed look into the operational, financial, legal, tax, human resources, […]
3 Ways to Honor Your Employees Through Your Exit Strategy
One of the great privileges of doing M&A advisory exclusively in the transportation industry is the people. So many of our clients are business owners who are good business people with big hearts. They expect every penny they deserve from the sale of their trucking or logistics company. They also want to make sure they […]
One Thing the CARES Act Won’t Do For Your Trucking Business – An Interview with Patrick Eakins from ENGS Capital
Many of our trucking and logistics clients and industry friends are trying to navigate through this confusing time. To help bring financial thought leadership to the conversation, we sought out advice from Patrick Eakins of ENGS Capital. Below a condensed summary of our recent conversation. Tenney Group: Much of our industry’s focus is currently […]
Covid-19 Offers Business Partners an Opportunity to Realign Goals – Protect Wealth & Employees
Prior to owning Tenney Group outright, my dad and I were business partners for eight years. We had always enjoyed a very healthy working relationship. As time went on, I began to see a very clear vision for where I wanted to take our business in the future. I desired to expand significantly in order […]
3 Takeaways from TCA Webinar: Trucking M&A in Uncertain Times
Tenney Group had the opportunity to share some timely insights about what is happening in trucking M&A in this “new” environment. We were quick to acknowledge that every specialty within trucking is being affected by the coronavirus in different ways and that no one fully understands everything that is happening. In addition to sharing 2019/2020 […]
3 Opportunities to Improve Your Bottom Line Right Now – Guest Columnist Ryan Schreiber, CarrierDirect
This week’s featured guest columnist is Ryan Schreiber. Ryan has lived his career at the intersection of transportation and technology. As CarrierDirect’s Director of Engagement, Ryan works with clients on challenging the status quo while respecting the challenges both businesses and individuals face through change. Before joining CarrierDirect, Ryan has started multiple businesses in the […]
Protecting Personal Health Protects the Sale Process
So often in an acquisition environment, owners are solely focused on preserving the health of their business that they often neglect their own health. While this certainly an unintended consequence, it can be both a short-term and long-term detriment to a number of parties. It’s no secret that the acquisition process is a taxing one, […]
3 Questions That Can Kick Start Your Succession Planning
So many transportation business owners know they need to start succession planning…they just don’t know where to begin. The following questions can get you in the game. What is this thing worth? Understanding the value of a business helps a business owner address a few major foundational succession planning issues. It helps quantify the […]
2 Reasons a Seller is Ignoring Your Offer to Buy His Business
You did your homework. You gathered detailed information from the seller and thoughtfully considered a proposal. You presented your proposal clearly in writing. You even asked some peers what they were offering on similar deals in an effort to make a fair proposal. Still, crickets. Why is the seller not engaging into a discussion or […]