Episode 156: M&A in the Trucking Industry with Spencer Tenney
If you’re thinking about exiting your trucking company, do you know how to make your carrier as attractive as possible to potential buyers?
Spencer Tenney is Managing Partner of the Tenney Group, a family run advisory firm of 40+ years, which is focused on business sales, acquisitions and business valuations, but only in the transportation industry.
To date, Spencer has helped the Tenney Group close more than 75 transportation business sales across the United States. Most of his clients are companies in the trucking, bus, or chauffeured transportation industries with annual revenues of $2M – 200M.
“Most of our clients are founders, they built their business on a credit card and a prayer. And then some magic happened.”
So, if you’re a business owner looking for help to buy, sell or value your transportation company, don’t miss Spencer on this week’s episode of Recruit and Retain, because there are some significant pitfalls that come with mergers and acquisitions in this unique industry.
WHAT YOU’LL LEARN ABOUT IN THIS EPISODE:
- Impact of COVID on M&A in trucking
- How to make transition easier for drivers
- New proposed capital gains tax
- Business value directly correlates to risk
- The importance of financial reporting
- Their due diligence checklist
HOW TO CONNECT WITH SPENCER TENNEY: