NewswireToday - /newswire/ -
Englewood, CO, United States, 2007/06/25 - A private transaction has taken place between two large private equity groups purchasing $500 million in trucking companies throughout the United States.
These two groups, one based on Salt Lake City, and one based in Los Angeles, are in the process of acquiring 42 trucking and logistics companies in an effort to build a large portfolio of profitable freight and logistics companies located in the U.S.
The 42 companies represent a total value of $432 million, with earnings of $64 million, annual revenues of $374 million, $228 million in assets, and $24 million in real estate respectively.
The intent of this project is to create a new publicly traded company on that will be listed on the American Stock Exchange by the end of 2007, and begin trading as a new entity. The two groups are looking at separate parts of the project based on type of business and geographic location in order to maximize profits and relative expertise.
The primary focus for one of the buyers is based on companies that run routes located in the Southeast part of the United States, as well as the Midwest.
The second buyer is focused on the long haul carriers that typically run routes across the U.S. This collaborative and detailed focus by both buyers has led to increased profits of the acquired companies with minimal losses.
The project is currently fluid and more companies are being brought into the project on a daily basis. Corporate Acquisitions Group is representing both buyers and all sellers in the transaction.
Corporate Acquisitions Group (cagglobal.com) works with both buyer and seller to establish relationships with the valuation companies, accountants, and other service providers ensuring the transaction is successful. Further, Corporate Acquisitions Group provides an objective point of view for both the buyers and the sellers throughout the acquisition process, providing expertise on how best go about a large and complex sale such as this one.