5 Reasons to Consider Selling Your Trucking Company Now
Whatever your experience in the trucking industry has been this past year, I think we can all agree that 2020 has been different. I’ll spare you from having to rehash all of the highs and lows from the past 10 months, and instead focus this article on where these events have landed us today, and […]
Selling a Business During an Uncertain Election and a Global Pandemic is Crazy. Or, Is It?
Timing a transfer of business ownership is a challenge. Even when we take economic and political factors off the table, owners still have a host of other things to consider as they work to promote the interests of their families, employees, and legacy. 2020 has been full of unexpected turns and twists which make the […]
4 Tips to Make Your Exit Seamless
What does a wedding, building a house and exiting a business all have in common? Yes, they’re all monumental moments in someone’s life, but the truth (and real answer) is that all three require extensive preparation and planning for them to end up as ideal as they can be. While I’m sure some of the […]
USPack Acquires Freight Rite. Tenney Group Advises
Aug. 24, 2020 — USPack, a national leader in high speed, final-mile logistics and NewSpring Holdings portfolio company today announced the acquisition of Freight Rite, further expanding its omni-channel retail logistics capabilities and national footprint. Tenney Group, an industry specialized M&A firm, advised the seller. The strategic acquisition of Freight Rite supports USPack’s commitment to white-glove […]
2 Mistakes You Can Easily Avoid When You Have An Interested Buyer
America runs on the backs of the hardworking, transportation and logistics companies. After years of running a business that you have built from the ground up, there can be a moment when you begin to prepare for the next phase of life. Running a business within the transportation industry is a high call and demands […]
4 Trucking Deals Closing in Next 45 Days. Why?
Over the past 4 months, almost every trucking company has been affected in some way by the many challenges our nation is facing. Deal activity is extremely high, but maybe not for the reason you might think. Here are three reasons. Crisis has demonstrated the need to diversify. Many buyers have expanded their growth via […]
Building Business Value Through Leadership, Culture, & Independence – TCA Event Recap
July 10th, Tenney Group Delivered Part 2 of a three-part deep dive into “Building Business Value in a Tough Economy.” In this highly interactive workshop, Tenney Group made the case that big money is made at the closing table by investing in leadership, culture, and owner independence. Here are three takeaways. Top performing company cultures […]
How to Protect Your Employees Without Shrinking Your Pool of Buyers or Discounting Value
“I don’t want to include that buyer in the sale process because they will get rid of all my people after the sell.” Protecting your employees is a good desire. After all, they are the ones doing great things in your business every day and who have made it what it is today. But is […]
Valuing a Transportation Business
Business value in the transportation industry is widely misunderstood by business owners, accountants, general business brokers, consultants, and lenders. At an industry event, I asked 6 business owners how they thought transportation businesses were valued and I received 6 different answers. The suggested formulas included: • The average of the last 5 years’ annual sales […]
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, […]