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Acquisition Targets for 2nd Quarter of 2015

Thursday, April 9th, 2015

Each quarter, I provide the needs of Ahern’s clients so that my readers can determine if they are ready to “begin the process”.  2014 was a very profitable year for many Carriers, but also a very challenging year.  The 1st quarterof 2015, has been very active for my firm; as such, our clients have advised us of their needs through August of 2015.

 

In each instance, Ahern has been retained in an advisory capacity to introduce clients to parties interested in selling;

 

CLIENT 1: 

Client 1 has been in business since 1949.

  • They are primarily a provider of logistics solutions for agriculture, construction, energy, manufacturing, mining and oil refining.
  • Revenues exceed $800MM annually.
  • Client interested in expanding their operating “footprint” in the “light asset” business models.
  • If you are a freight brokers, or 3PL focusing on agricultural bulk commodities, energy, mining or other niche markets you are a company that would be of interest.

 

CLIENT 2:

A long-time client, whose revenues are in excess of $300MM annually.

  • The client has been in business for 60+years;
  • Client is primarily a “light” asset based business;
  • Company is involved in TL, LTL, Freight brokerage, Intermodal, and Van;
  • The client is willing to look at companies that generates $3MM-$40MM of annual revenue and will look at some company assets;
  • Client is only interested in acquiring transportation companies that are located in the State of California.

 

Additionally, if you have warehousing in California, and if it can be consolidated into one of their warehousing facilities, that’s a plus.

 

CLIENT 3: 

An existing Ahern client that is looking to expand their operating “footprint”.

  • They like to acquire companies whose revenue are in excess of $50MM;
  • They like to acquire them as an investor company and grow the business; will acquire at least 50% or more of business.

 

CLIENT 4: 

This is one of the largest transportation providers of supply chain solutions, and domestic transportation services in the United States.

  • They are active in all forms of freight distribution.
  • They are looking for freight brokers that generate $15MM to $150MM annual revenue.
  • Company must have strong operating margins.
  • Must have a good diversity of business.

In all cases, the business must be non-asset based.

 

CLIENT 5: 

This client is an Ahern long term customer;

  • They are one of the top flatbed providers in the country;
  • The target companies are $10MM – $40MM of annual revenue;
  • They are looking primarily for owner/operator flatbed companies;
  • The company can be profitable or nonprofit able;

 

CLIENT 6:

A well-established Transportation Company, operating primarily vans, looking to extend their operating “footprint” throughout the United States.

  • Client currently operates approximately 600 tractors;
  • They are willing to look at trucking companies that are marginally profitable;
  • They want to acquire the assets of the business and pay for the customer base;
  • They can move quickly; and
  • They want the management to continue to stay and assist in growing the business.

 

CLIENT 7: 

A well-established trucking company that has been in business for approximately 15 years, currently operating 450 trucks.

  • They are looking for a TL, Van, OTR Carrier;
  • The Carrier must operate east of the Mississippi;
  • The primary lanes are IN, KY, IL, LA, WV, GA, and PA;
  • The average length of haul should be 300 – 400 miles;
  • They are looking to acquire companies that have 30 – 100 trucks and can close quickly.  

 

CLIENT 8: 

An existing Ahern client looking to acquire specialized flatbed carriers that generate at least $100MM in annual revenue; company must be:

  • Profitable.
  • Possess excellent management staff.
  • Management staff wants to stay and assist in growing the business, and;
  • The company must historically demonstrate growth and strong profitability.

Any asset trucking company that’s looking for a strong financial partner, this would be a good “fit”.

 

CLIENT 9: 

A Flatbed Carrier whose revenues approximate $85MM, and growing.

  • The clients average length of haul is 500 miles;
  • Their primary traffic lanes are: AL, MS, IN, IL, OH, PA, NJ, TN, and GA.
  • They are looking to acquire companies that are $5MM-$30MM in annual flatbed revenue.
  • Client is looking primarily for asset based businesses, but will consider a non-asset based Flatbed broker;
  • The client focuses on generic movements of metal products.

 

CLIENT 10: 

Well-recognized Transportation Company, whose revenue exceeds $1 billion, annually;

  • Client is looking to establish ownership of companies with revenues of $150MM, and over;
  • They are willing to acquire 50% to 60% of the business; and
  • Established a formula, so that when an owner is ready to “exit” the business, they are willing to acquire the balance of the businessat a predetermined formula.
  • Refrigerated Carriers;
  • Flatbed Carriers;
  • Van, OTR Carriers; and

The client will look at;

  • Asset or non-asset based business, but their threshold must be $150MM of revenue and over.
  • Strong earnings EBIT/EBITDA a must.
  • Strong management a must.

 

CLIENT 11:

Client is a bulk commodity company looking to expand itsoperating footprint.

Prefers companies that generate:

  • $15MM – $40MM of annual revenue.
  • Company must have good earnings and strong management.
  • Client will allow seller to retain some ownership if desired.

If your company is a fit with any of the above clients, or you know of a company, please contact Andy Ahern/Brian Haley at (602)242-1030, or email: ahern@ahern-ltd.com

 

 

QUOTE OF THE WEEK:

 

“Teaching may be compared to selling commodities. No one can sell unless somebody buys”                        (Author: John Dewey)

Acquisition Targets for 4th Quarter of 2014

Thursday, March 5th, 2015
Each quarter, I provide the needs of Ahern’s clients so that my readers can determine if they are ready to “begin the process”.  2014 has been a very profitable year for many Carriers, but also a challenging year.  The first 3 quarters of 2014 have been very active for my firm; as such, our clients have advised us of their needs through December 31st of 2014, as well as the first quarter of 2015.In each instance, Ahern has been retained for the following searches: 

CLIENT 1:  This is a family-owned company that generates in excess of $750M of annual revenue.  The client is a company that has been in business for approximately 65 years;

  • They are well recognized in supply chain management solutions;
  • They have a diversified list of customers, including Electric Power Generation Companies, coal production, oil refining, train, chemical and other industries.

Our client currently has over 200 locations and more than 3,000 employees, and growing.  This client is looking to obtain freight brokers and logistics companies that focus on trucking, train transport, and trans-loading expertise.  Focuses on agriculture, construction, energy, manufacturing, mining and oil refining;

  • Client is looking to acquire companies with revenues between $20M – $50M of annual revenue.

CLIENT 2:  Has been in business since 1949;

  • They are primarily a provider of bulk aggregate materials and utilize dumps and pneumatics;
  • They focus on food, energy, chemicals, manufacturing and construction;
  • They are interested in expanding their operating footprint;
  • The customer profile consists of Fortune 500 companies, comprising 80% of their revenue base;
  • They have multiple distribution centers throughout the United States;
  • They have multiple-year contracts, and long dedicated contract for services;
  • CSA compliance is a must.

They are also willing to look at small freight brokers that generate $3M – $10M of annual revenue;

  • They are primarily looking for companies in the Midwest.

CLIENT 3:  This is a very successful P.E. client, looking to grow their specialized heavy haul division;

  • They are looking for niche companies in specific geographic areas;
  • Revenue must be between $20M – $100M of annual revenue;
  • The company must be profitable;
  • Management must be willing to stay and continue to grow the business.

CLIENT 4:  This client has established a platform company.  They are looking to acquire carriers that are specialized bulk haulers within the 11 Western states;

  • Client desires management to stay and continue to operate the business;
  • Client will pay a multiple of EBITDA;
  • A normal transaction can be closed within 90 days;
  • Client is looking to acquire companies with revenues between $15M – $50M of annual revenue.

CLIENT 5:  A repeat customer that Ahern has done a substantial amount of work for, many years;

  • They are one of the top flatbed carriers in the country;
  • They want to continue to expand their operating footprint;
  • The target companies they are looking at are $10M – $50M of annual revenue;
  • They are looking primarily for owner/operator flatbed carriers;
  • The company can be profitable or unprofitable; and
  • Management must be willing to stay.

CLIENT 6:  A well-established, trucking, over the road operation, operating primarily Vans, looking to expand their operating footprint throughout the United States;

  • The company currently operates approximately 550 tractors;
  • They are willing to review companies that are marginally profitable;
  • They want to acquire the assets of the business and pay for the customer base;
  • They can move quickly; and
  • They want management to continue to stay and assist in growing the business.

CLIENT 7:  A continuing customer of Ahern’s, which is always looking for a unique business;

  • They like to acquire trucking and logistics companies whose revenues are in excess of $75M – $250M of annual revenue;
  • They acquire the business and establish them as a platform business, and then continue to grow the business;
  • The client is willing to pay a multiple of EBIT or EBITDA;
  • The client is willing to acquire a percentage of the stock in the business: grow the business, provide financial strength, as well as management strength; and
  • The client will allow the Seller to retain some ownership in the business.

CLIENT 8:  A well-recognized company, whose revenues exceed $1 billion, annually;

  • They are looking to establish ownership of companies with revenues of $150M and over;
  • They are willing to acquire 50% – 60% of the business, or more; and
  • Establish a formula so when the owner is ready to exit the business, they are willing to acquire the balance of the business at a predetermined formula.
  • The client will look at Van, over the road carriers, flatbed carriers, and refrigerated Carriers;
  • They will look at asset or nonasset-based businesses, but their minimum “threshold” is $150M of revenue and over.

CLIENT 9:  A well-established trucking company that has been in business approximately 16 years, and currently operates 500 trucks;

  • They are looking for a truckload van, over the road carrier;
  • The carrier must operate east of the Mississippi;
  • Primary lanes are Indiana, Kentucky, Illinois, Louisiana, West Virginia, Georgia, and Pennsylvania;
  • Average length of haul should be 300 – 400 miles;
  • They also have an over the road division that has secured three-year contracts, tied directly to the automotive industry;
  • They are looking to acquire companies that have 50 – 150 trucks;
  • They can close quickly; and
  • An ideal location would be in the state of Missouri.

CLIENT 10:  Very well-respected freight broker and logistics company that has been a client of Ahern’s for some time;

  • They are looking to acquire freight brokers whose revenues are $30M – $200M;
  • Company must be profitable;
  • Management must be willing to stay;
  • They are willing to pay a multiple of EBITDA;
  • They are involved in TL, LTL, intermodal, expedited flatbed, and refrigerated;
  • The client can move quickly.

Any freight broker or 3PL provider that is looking for a strong financial partner, this would be a good fit.

If your company is a fit with any of these clients, or you know of a company, please contact Andy Ahern at (602)242-1030, or email me: ahern@ahern-ltd.com

QUOTE OF THE WEEK:  “Life is not about waiting for the storm to pass . . . It’s about learning how to dance in the rain.”  ( Unknown)

Ahern & Associates Ltd receives multiple assignments…..

Thursday, September 8th, 2011

North America’s Premier Transportation Consulting Firm, Ahern and Associates, Receives Multiple Additional Assignments from Trucking, Logistics and Private Equity Firms

Trucking and logistics consultants announce engagements by numerous new clients to review opportunities for acquisition.

Phoenix, AZ, September 5, 2011— Keeping their strong momentum while entering the final quarter of 2011, Ahern and Associates, Ltd. shows once again why they are the leading trucking and logistics acquisition firm by announcing consulting engagements by nine additional clients who are looking to expand operations. Andy Ahern, CEO of Ahern and Associates, who is well known for his ability to create markets within the transportation industry, makes this proclamation on the heels of their recent announcement of their second annual Transportation Conference to be held September 23rd in Chicago.

Analysts at Ahern and Associates are seeking assistance for the following open assignments:

Client #1: is a privately held transportation company with revenues exceeding 1 billion dollars

The company is looking to acquire:

  • Flatbed companies that are predominately independent contractor driven.
  • Minimum revenue - $80MM.
  • Maximum revenue – $400MM
  • Company is willing to pay cash.
  • Company is willing to pay a multiple of EBITDA.
  • Company is looking for profitable carriers that have a strong management team and will want to stay on after acquisition.

Client #2: is a publically traded company looking to acquire freight brokers and logistics providers whose revenues generate $25MM – $80MM of annual revenue.

  • Must have a strong management team.
  • Management must be willing to commit 3-5yrs on running the company going forward, and;
  • Company is willing to pay multiple of EBITDA.

Client #3: is a private equity firm looking to acquire a van carrier or van carriers in two specific categories.

  • Carriers that generate $25MM of annual revenue and run primarily in the southeast/southwest.
  • Carriers that generate $200MM and over of annual revenue running primarily to southeast/southwest.

Client #4: is looking to acquire LTL carriers whose revenues exceed $150MM annually.

  • Company can be marginally profitable.
  • It has to have a long history in the business, and;
  • The client is willing to pay a multiple of EBITDA.

Client #5: is a trucking and logistics company that is currently in the dedicated contract arena.

  • They are looking to acquire companies that have 3-5yr dedicated contracts that pay all miles.
  • They are willing to pay a multiple of EBITDA.
  • They are not interested in automotive contracts within the auto industry, and;
  • They are looking for companies that historically are looking for an exit strategy and want to stay on for some time period.

Client #6: is a privately held company well recognized in the industry and is looking to acquire a $100MM – $500MM refrigerated carrier. Currently, the client does not haul this type of freight.

  • The company must have a very strong management team.
  • The management team must be willing to stay and move the company forward, and;
  • The client is willing to pay a multiple of EBITDA.

Client #7: is a small Midwestern, well capitalized family operation, looking for bulk pneumatic (dry) carriers in the IL, IN, MI, WI area.

  • Is looking to acquire companies from $5MM – $30MM of annual revenue.
  • Is also looking to acquire freight brokers that deal in the bulk commodity business, and;
  • The company is willing to pay a multiple of EBITDA.

Client #8: is a well-established manufacturing company looking to acquire companies to utilize the strengths of their business and develop new products in the category of powered equipment and tools, which will be sold in commercial and industrial markets, including new truck mounted applications. The client is looking for companies that offer;

  • Multiple and virtual unrestricted channels of distribution.
  • They are probably involved in manufacturing chipper units, log splitters, stump grinders, truck or trailer mounted vacuum systems, refrigeration units for trucks and trailer, under hood air compressors, turf products, air spades and air vacuums, portable winches used by arborists.
  • Minimum revenue size is $20MM.
  • Maximum revenue size cannot exceed $300MM of annual revenue.
  • Company is very well known in the industry.
  • They are willing to pay a multiple of EBITDA

Client #9: is a well-known family owned flatbed company that is in the top 5% in the industry.

  • Company is looking to acquire flatbed companies that utilize independent contractors.
  • Will look at companies that have a minimum of 30 trucks.
  • Will look at companies that operate 300 trucks.
  • Client is willing to move quickly.
  • They are willing to pay a multiple of EBITDA, and;
  • They are specifically interested in specific geographic areas such as; TX, OK, GA, TN, AR, IL and IN.

Ahern’s unique approach to aiding companies seeking to acquire specific assets in transportation is entrenched in their ability to provide the most accurate company valuations in the industry while working with the broadest network of professionals and contacts in the country. “We’ve seen a real spike in transportation acquisitions in 2011 and expect that trend to continue for quite some time. Our analysts are constantly talking to companies who may be a match for our outstanding acquisition needs.”

If your company is a potential match to any of the above prerequisites, you are urged to contact Andy Ahern direct at 602-242-1030.

About Ahern & Associates, Ltd.:

Ahern and Associates is North America’s leading trucking and transportation management consulting firm. The skilled consultants at Ahern and Associates specialize in mergers and acquisitions of trucking and logistics companies as well as the restructuring and evaluation of existing carriers that seek to increase operating efficiency and improve profitability. Since 1987, Ahern and Associates has aided hundreds of buyers in the acquisition of trucking and logistics companies throughout the U.S. and Canada as well as assisting many transportation and logistics companies in reducing their overall operating costs and increasing their profitability. For more information, please call 602-242-1030 or visit http://www.Ahern-Ltd.com

Acquisition Client #26

Wednesday, March 16th, 2011
  • Family owned and operated, large intermodal carrier seeking captive agents to grow with their current established business. Client will provide working capital, insurance, billing, collections, client approval, etc. Agent split 65%/70% – parent 30%/35% – commissions paid weekly. Client is primarily interested in intermodal companies.

Acquisition Client #25

Wednesday, March 16th, 2011
  • Trucking company looking to acquire dedicated contract carriers with 3 – 5 year contracts that pay all miles. Target revenue: $5MM – $200MM of annual revenue.

Acquisition Client #24

Wednesday, March 16th, 2011

Family owned bulk and pneumatic carrier looking to acquire profitable bulk or pneumatic carrier with revenues between $5MM – $20MM. Prefers locations in Wisconsin and Illinois but is open to other geographic areas.

Acquisition Client #23

Wednesday, March 16th, 2011
  • Large intermodal client looking to acquire intermodal carriers between $5MM – $30MM of gross annual revenue. Must utilize independent contractors – buyer will bring capital to the deal.

Acquisition Client #22

Wednesday, March 16th, 2011
  • Specialized heavy haul client looking to acquire a non-asset based specialized carrier in North and South Carolina or Georgia. Some company equipment acceptable and target revenue should be between $5MM – $20MM.

Acquisition Client #21

Wednesday, March 16th, 2011
  • Family owned flatbed business looking to acquire a non asset based flatbed/owner operator company generating a minimum of $15MM of annual revenue, profitable or non profitable.

Acquisition Client #20

Wednesday, March 16th, 2011

Large transportation company, well recognized in the industry, is looking to acquire a $75MM – $200MM refrigerated carrier. Company must be profitable and key management must be willing to stay. Client is currently not in the refrigerated carrier business.

Acquisition Client #19

Wednesday, March 16th, 2011
  • Public, non-asset based company looking to acquire profitable freight brokers between $20MM – $75MM of gross annual revenue. Client is willing to pay 4 to 5 times EBITDA, plus the liquidated balance sheet.

Acquisition Client #18

Wednesday, March 16th, 2011
  • Private equity firm looking to acquire a $100MM+ freight broker or 3PL company. Willing to pay 5 to 6 times EBITDA, plus incentives. Company must be profitable with a strong management team willing to stay.

Acquisition Client #17

Wednesday, March 16th, 2011
  • Private equity firm looking to acquire a $100MM+ freight broker or 3PL company. Willing to pay 5 to 6 times EBITDA, plus incentives. Company must be profitable with a strong management team willing to stay.

Acquisition Client #16

Wednesday, March 16th, 2011
  • Private equity firm looking to acquire specialized heavy haul carriers generating at least $1.5MM of EBITDA and at least $20MM of annual gross revenue – will purchase asset based companies as well as non asset based companies.

Acquisition Client #15

Wednesday, March 16th, 2011
  • Private equity firm looking to acquire non asset based intermodal, van and 3PL’s. Must generate, at least, $1MM of EBITDA.

Acquisition Client #14

Thursday, September 30th, 2010

Ahern and Associates has been engaged for the following targeted, acquisition assignments by a major East Coast Drayage Company:
1. Locate additional drayage agents in the eastern 2/3’s of the United States

2. Identify drayage agent companies with annual revenues between $10MM to $40MM which utilize independent carriers and have a strong agent network.
3. Locate dry van and flatbed platform freight brokerages with annual revenues up to $60MM.

Acquisition Client #13

Friday, September 17th, 2010

Client 13: Well established intermodal carrier. Seeking to acquire independent contractor companies within the markets of Los Angeles, CA, St. Louis, MO, and Charlotte, NC. Ideal candidates will have 30+ trucks in operation with annual revenues of $5MM to $40MM; independent owner operators only.

Acquisition Client #12

Friday, September 17th, 2010

Client 12: Large transportation/logistics company based in the Southwest. Company would like to acquire a dedicated freight contract carrier with 3-5 year dedicated contracts in place. Client would also consider a large logistics company or freight brokerage. Annual revenue requirements for potential acquisition are between $50MM to $200MM. Buyer is prepared to offer 4 to 4.5X EBITDA for an asset based company or 4 to 6X EBITDA for a non-asset based company. Financing is in place, buyer would like to complete transaction by year’s end.

Acquisition Client #11

Friday, September 17th, 2010

Client 11: Established Midwest based carrier; outstanding family business in operation for over 30 years would like to expand throughout the Midwest. Company seeks bulk transport carriers hauling dry product only: flour, sugar, corn, wheat germ, etc… Dry product must be hauled in pneumatic tank carriers as to match their current business model. Annual revenue requirements are between $5MM to $20MM.

Client Assignment #10

Friday, September 17th, 2010

Client 10: Has engaged Ahern’s services to redesign their entire freight distribution system. Current revenues of the client are between $1 billion – $2 billion annually.

UPDATE: Assignment 90% complete, client making final decision on freight partner.

Acquistion Client #9

Thursday, August 12th, 2010

Client 9: Looking to acquire freight brokers with $5MM – $50MM of annual revenue. Management must be willing to stay; buyer is a $200MM+ freight broker.

If you are a potential fit for this need or know of a potential match, please contact Andy Ahern directly at 602-242-1030 or email ahern@ahern-ltd.com for more information.

Acquisition Client #8

Thursday, August 12th, 2010

Client 8: Would like to acquire a $100MM+ air freight forwarder with EBITDA of $5MM – $20MM. Buyer is a private equity firm.

If you are a potential fit for this need or know of a potential match, please contact Andy Ahern directly at 602-242-1030 or email ahern@ahern-ltd.com for more information.

Acquisition Client #7

Thursday, August 12th, 2010

Client 7: Looking to acquire large freight brokers $100MM+ with strong EBITDA. Also looking for a non asset based dedicated carrier with revenues over $20MM+. Buyer is a $1 billion+ company.

If you are a potential fit for this need or know of a potential match, please contact Andy Ahern directly at 602-242-1030 or email ahern@ahern-ltd.com for more information.

Acquisition Client #6

Thursday, August 12th, 2010

Client 6: Seeking to acquire a profitable refrigerated carrier with $50MM – $200MM of annual revenue. Management must be strong with key management willing to stay. Buyer is a large trucking company looking to expand into the refrigeration market.

If you are a potential fit for this need or know of a potential match, please contact Andy Ahern directly at 602-242-1030 or email ahern@ahern-ltd.com for more information.

Acquisition Client #5

Thursday, August 12th, 2010

Client 5: Looking to acquire a specialized heavy haul trucking company in 11 Western states. Company must be profitable and considerate at least $20MM of revenue. Buyer is a private equity firm that owns a trucking company.

If you are a potential fit for this need or know of a potential match, please contact Andy Ahern directly at 602-242-1030 or email ahern@ahern-ltd.com for more information.

Acquisition Client #4

Thursday, August 12th, 2010

Client 4: Would like to acquire dedicated contract carriers with 3 – 5 year contracts. Buyer is a large trucking company that is 100% dedicated carriers.

If you are a potential fit for this need or know of a potential match, please contact Andy Ahern directly at 602-242-1030 or email ahern@ahern-ltd.com for more information.

Acquisition Client #3

Thursday, August 12th, 2010

Client 3: Buyer looking to acquire a small flatbed carrier $5MM – $10MM; owner must be willing to stay with the business.

If you are a potential fit for this need or know of a potential match, please contact Andy Ahern directly at 602-242-1030 or email ahern@ahern-ltd.com for more information.

Acquisition Client #2

Thursday, August 12th, 2010

Client 2: Looking to acquire distressed companies. Buyer will pay an earn out based on growth and cost reductions. Buyer will bring capital to the deal.

If you are a potential fit for this need or know of a potential match, please contact Andy Ahern directly at 602-242-1030 or email ahern@ahern-ltd.com for more information.

Acquisition Client #1

Thursday, August 12th, 2010

Client 1: Looking for captive agents to grow with established $60MM company. Client will provide working capital, insurance, billing, collections, client approval, etc. Agent split 70%/Parent company 30% -commissions paid weekly.

If you are a potential fit for this need or know of a potential match, please contact Andy Ahern directly at 602-242-1030 or email ahern@ahern-ltd.com for more information.