Daseke Adds Three Companies
Daseke, Inc., a consolidator and specialized transportation company, announced that three additional carriers have joined Daseke. The company says the additions strengthen its position as a transformative force in the industrial goods trucking industry.
The three flatbed and specialized carriers added to Daseke’s family of companies are Tennessee Steel Haulers & Co., The Roadmaster Group, and Moore Freight Service.
“Today is a significant milestone for Daseke, as our company’s total revenue, EBITDA and fleet size are all now approximately 40 percent larger,” said Don Daseke, president and CEO of Daseke. “We’ve added three exceptional organizations to our family of operating companies focused on unique sectors with promising growth characteristics.”
The additions continue Daseke’s focus on flatbed and specialized transportation, Daseke noted.
TSH & Co., The Roadmaster Group and Moore Freight Service are strategic additions to the Daseke family of companies for several reasons. Daseke is now on track in 2017 to have $143 million in earnings and $1.2 billion in revenue. This represents a compound annual growth rate of 48 percent in earnings and 59 percent in adjusted revenue since the company’s first year of operations in 2009.
“With the addition of TSH & Co., Daseke immediately becomes more asset-light in its fleet mix,” said Daseke. “TSH & Co. is a second-generation trucking company with a rare 1,100 flatbed-focused fleet with a 100 percent owner-operator model. With the combined owner-operators at TSH & Co., The Roadmaster Group and Moore Freight Service, my estimate is that our asset-light mix run rate will be well-balanced at an estimated 50 percent by December 31, 2017. Those percentages exemplify our long-term strategic goal of managing a lower capital expenditure intensive, asset-right fleet mix.”
With the addition of The Roadmaster Group, an elite high-security cargo carrier, Daseke’s position is further bolstered in an important niche market with limited carriers. The Roadmaster Group is the parent company for Tri-State, the longest-tenured high-security cargo hauler in the country, founded in the 1930’s.
Moore Freight Service expands capabilities as a major player in a unique, specialized niche, hauling sheets of commercial glass, as large as 17 by 10 feet and more than one inch thick, with highly customized trailers.
“This exclusive market has intrigued our company for several years, as there are only three primary carriers,” stated Daseke. “It is very difficult to build scale quickly in the commercial glass niche.”