US: Daseke to go public as part of USD 626mn acquisition by Hennessy

24.12.2016

US: Daseke to go public as part of USD 626mn acquisition by Hennessy
Dallas News, 24 Dec 2016, online:-
As part of its acquisition by American private equity firm Hennessy Capital Acquisition Corporation II (Hennessy) in a USD 626mn (EUR 557.34mn) equity and debt financed deal, US-based trucking services and logistics company Daseke will go public in early 2017. Private placements worth USD 100mn, a new asset-based credit facility by PNC Bank worth USD 70mn and USD 350mn in a new term loan from UBS Investment and Credit Suisse comprise all the financing that have been prepared by Hennessy. A total of 50% of the company will be owned by Daseke when the merger deal is finalized in the first quarter of 2017.
With under USD 1bn in annual sales, Daseke has only captured a small portion of the USD 133bn open deck freight market in North America. Daseke is the second biggest open deck transportation provider by revenue and claims to be the largest US owner of heavy hauling, open-deck equipment. The company's CEO and Chairman will still be its founder Don Daseke. A total of 357 companies with quality carriers are being targeted by Daseke, with each of these companies owning over 100 open-deck trucks.
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