Daseke continues M&A spree, buys R&R Trucking
Daseke Inc. (Nasdaq: DSKE) has purchased R&R Trucking to expand in military supply transportation. The acquisition marks Daseke's fourth acquisition in about three months.
R&R, founded in 1988, focuses on transporting commercial arms and hazardous materials through its namesake, TNI (USA) Inc. DBA AATCO and NEI Transport brands. The Duenweg, Missouri-based target works with the Department of Defense and the Department of Energy. Financial terms of the deal were not disclosed. Vinson & Elkins represented Daseke.
“We are creating scale in a trucking category that has never been created before. We're in a very fragmented part of the transportation industry. I think there will definitely be further consolidation in the space,” Daseke CEO Don Daseke previously told Mergers & Acquisitions. Addison, Texas-based Daseke has completed more than 11 acquisitions since 2008. Earlier in 2017, Daseke purchased competitors the Schilli Cos., Big Freight Systems and the Steelman Cos.
Daseke operates more than 3,500 tractors and 7,300 and open-deck trucks. Some of its main customers include Boeing Co. (NYSE: BA), Caterpillar Inc. (NYSE: CAT) and General Electric Co. (NYSE: GE).
In other truck-related deals, Volkswagen bought a stake in Navistar International Corp. (NYSE: NAV). And in 2016, Revelstoke-backed Transport Holdings acquired truck Provider Jones Motor Group.