Two large carriers to become publicly traded companies as early as this year

| January 04, 2017
Schneider...

Schneider National stock could begin trading on the New York Stock Exchange as early as this year.

Schneider National, the eight largest carrier in the country and the largest privately owned carrier, has filed an application with the Securities and Exchange Commission to become publicly owned and begin trading shares on the New York Stock Exchange. Schneider made the announcement about the application Dec. 21, following up on an October 2016 announcement that it planned an initial public offering in 2017.

According to the CCJ Top 250 carrier rankings, Schneider pulled in $3.9 billion in revenue in 2014.

Daseke owns several large truckload carriers, including Boyd Bros. Transportation.

Daseke owns several large truckload carriers, including Boyd Bros. Transportation.

Likewise, Daseke, No. 42 in the CCJ Top 250, has entered into a merger deal with investment firm Hennessy Capital and will become a publicly traded company on the Nasdaq exchange, both companies announced in late December.

The Addison, Texas-based flatbed and specialized carrier will receive $626 million in newly issued Hennessy shares. Hennessy, already a publicly traded company, will change its name to Daseke, Inc., and will begin trading on the Nasdaq under the symbol DSKE and DSKEW.

Daseke was formed in 2009 and has grown, mostly via mergers, from $30 million in revenue that year to $679 million in 2015. Daseke owns several major motor carriers, such as Boyd Bros., E.W. Wylie, Bulldog Hiway Expresss, Hornady Transportation and others.

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6 comments
wimop
wimop

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mfoltz8968
mfoltz8968

Ha Ha.  Saw this coming about 5 or six years ago.  Worked for Schneider from 2004-2014.  Enjoyed the time I was there.  Around 2008 or so the whole industry started to change for the worse.  Trucking companies got the brilliant idea that in order to cut costs they would start taking things away from the drivers and micromanage them. iIt continues to this day.

Another once great company that Chris Loughgren has left in his wake.

Colby Coen
Colby Coen

Yep. I survived a lease/purchase with EW Wylie between September 2011 and August 2014. Daseke acquired Wylie approximately the summer 2013. After that, they hired anybody. I had a dispatcher from US Express who once tried to put 57000# on me. I had to show a new driver what the blue and red hoses were for...wow.

antoniotate66480
antoniotate66480

Why would it matter if a company goes public? Slots of companies are public. Disney and Microsoft are public. I work for Schneider and I like it. Been there 18 years you go work for someone else and sit around waiting for frieght.

Justice for Truckers
Justice for Truckers

When you see big companies like Schneider go public it doing two things. Recouping profits and adding financial stability for the future.

The negative would be that they have to now answer to the stock holder.

Another move we are experiencing in trucking now is that more trucking companies going Employee owned. Employee owned can go either way. That will depend on the new management setup.

I will also say that these moves are a negative sign by trucking about the future of trucking.

Rickey Gooch

www.causes.com/JusticeForTruckers