The truck space is fragmented and one company that is looking to increase scale through M&A is Daseke Inc. (Nasdaq: DSKE). Daseke recently announced a merger with flatbed truck operator the Steelman Cos., marking its third deal in about two months.
Steelman, based in Springfield, Missouri, operates a fleet of more than 100 tractors and flatbed trucks. The company also owns Group One, which provides logistics, transportation and warehouse services for powersport trade shows. Steelman generated about $46 million in revenue and $7 million in adjusted Ebitda in 2016.