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January 16, 2013 - Sluggish Economy Continues to Weigh on Carriers

As reported by FleetOwner Magazine, a large number of trucking companies believe that freight volumes are likely to stay flat for the coming year. Carriers are split, on the other hand, as to whether rates will increase or stay the same, indicating uncertainty in the market. These findings come from the Fourth Quarter 2012 Business Expectations Survey, conducted quarterly by consulting firm Transport Capital Partners.

TCP Partner Richard Mikes notes, “Their volume and rate outlook does not bode well for cash flows and profits in 2013 for an industry under costs and availability pressure for drivers.”

TCP Parter Steven Dutro explains how this might effect wages: “Driver pay increases will be constrained by stagnant rates [so] it will be a tough balancing act for carriers to keep drivers.”

Read the full article here.

January 9, 2013 - Carriers Willing to Hire Younger Drivers

Truckinginfo.com reports that that more than 80% of carriers would consider hiring younger drivers. This data comes from the Fourth Quarter 2012 Business Expectations Survey, conducted quarterly by the transportation consulting firm Transport Capital Partners. The study also found that larger carriers are three times as likely to invest in training entry-level drivers compared to smaller carriers. TCP Partner Richard Mikes notes the importance of driver retention, while TCP Partner Steven Dutro acknowledges that “those who are successful in properly training and developing loyalty will gain a real competitive advantage.”

Read the full article here.

January 9, 2013 - Trucking Companies Look to a Younger Workforce

The Fourth Quarter Business Expectations Survey by Transport Capital Partners shows that carriers in the trucking industry are looking to the younger generation to fill a driver shortage, FleetOwner Magazine reports. The survey found that as many as 82% of carriers are willing to higher younger drivers. According to TCP partner Richard Mikes, “Most carriers know that turnover levels have doubled since the recession, which has continued to negatively impact our industry. Past surveys have indicated that pay must go up to significantly higher levels over the long-term.”

TCP partner Steven Dutro notes that “investment in effective training programs will be essential to our industry.”

Read the full article at FleetOwner.com.

January 3, 2013 - Study Finds Truckers Unhappy With Election

In a recent article from DC Velocity, it is reported that an overwhelming majority of those in the trucking industry did not support the President in the 2012 Election. According to the 4Q 2012 Business Expectations Survey by Transport Capital Partners (TCP), 93% of carrier executives surveyed were unhappy with the election results.

Additionally, the article relates that uncertainty in the US economy is affecting industry mergers and acquisitions. In a statement, TCP Partners Richard Mikes and Steven Dutro said, “Uncertainty about the tax picture for 2013 is [pushing] some carriers to accelerate merger and acquisition activity before the year closes, and many deals are being pressured as buyers and sellers are uncertain about what 2013 holds for them.”

Read the full article here.

December 13, 2012 - Truckers Wait for Washington

TheTrucker.com reports that 93% of carrier executives are not pleased with the results of the 2012 presidential election. However, 9% of small carriers are pleased, compared to only 1% of large carriers. These numbers are sourced from the latest Business Expectations Survey, conducted quarterly by trucking industry consulting firm Transport Capital Partners.

In addition, a majority of trucking companies are waiting for the “Fiscal Cliff” debate to be resolved before moving forward with any major mergers and acquisitions. TCP partner Steven Dutro notes, “Carrier executives know that if consumers and businesses are uncertain about the economy, in general, and their own personal finances, in particular, they will not be buying goods. It’s not surprising that carriers are unwilling to risk their own capital if their customers are also sitting on theirs.”

TCP partner Richard Mikes reports a similar sentiment among his industry contacts: “There is a general pause evident throughout the industry,” said Mikes. “Most carriers are in a ‘parked’ mode.”

Read the full article at TheTrucker.com.

December 13, 2012 - Carriers Unhappy with Election 2012

Truckinginfo.com reports that an overwhelming 93% of transportation executives are displeased with the results of this year’s presidential election. This data comes from the 4th Quarter Business Expectations Survey conducted by Transport Capital Partners.

Additionally, TCP partners Richard Mikes and Steven Dutro report that uncertainty around the “Fiscal Cliff” debate in Washington is causing carriers to hesitate before proceeding with any mergers and acquisitions. Read the full article here.

December 12, 2012 - HDMA Quotes Lana Batts on Fiscal Cliff

HDMA.org, the website for the Heavy Duty Manufacturers Association, references a Transport Topics article about the impending “Fiscal Cliff.” According to TCP Partner Lana Batts, “A lot of carriers say they want to sell before the end of the year. They may be buyers or sellers, but in the end they’re individuals, and a 3 percent or 6 percent tax increase comes out of their cash.” As a result, many carriers are waiting for the debate in Washington to be resolved before taking action on major transactions.

Read the full post at HDMA.org.

December 10, 2012 - Batts Quoted in Transport Topics Article Regarding “Fiscal Cliff”

TCP partner Lana Batts was recently quoted in an article by Transport Topics titled, “Fiscal Cliff’ Sparks New Deals as Carriers Ponder Tax Changes.” As the Obama administration and Congress deliberate 0ver revenue and spending changes, carriers are hurrying to sell before the end of the year. Batts noted that the fiscal cliff affects private equity buyers that “are thinking five years out. They want to flip those companies in five years, but they don’t know what the tax rate will be.” Read the full article here.

 

 

 

December 5, 2012 - Boyd Brothers Acquires Mid Seven Transportation – Facilitated by Transport Capital Partners

Boyd Bros. Transportation recently acquired Mid Seven Transportation in Des Moines, Iowa. Layover Magazine reports on the acquisition which was facilitated by Miller Welborn and Jim Parham of Transport Capital Partners. “It is exciting for me to see Mid Seven Transportation Company become a member of the Boyd Bros. family of carriers,” said Jeff Simpson of Mid Seven. “Both companies have long histories of operating with integrity, commitment to customer service and placing a high value on their employees and independent contractors.” Read the full article here.

 

December 5, 2012 - TruckingInfo.com: Boyd Bros. Acquires Mid Seven Transportation

Boyd Brothers has acquired Mid Seven Transportation, as reported by online trucking magazine TruckingInfo.com.

With revenues in excess of $6 million, Mid Seven will continue to operate as a separate subsidiary. Mid Seven is based in the Midwest United States, with extended shipping to other parts of the country.

Transport Capital Partners was instrumental in facilitating an agreement. Read the article at TruckingInfo.com.