As of early August, Daseke Inc. has been joined by the Memphis, Tenn.-based Builders Transportation, a flatbed specialist in steel, aluminum and metal products.
Builders operates a fleet of more than 300 company trucks and nearly 500 spread-axle trailers, hauling mostly in the eastern two-thirds of the United States.
Under the terms of the purchase agreement, Daseke acquired Builders for a total consideration of $53.8 million, which included $3.4 million in Daseke stock. For the trailing 12-month period ended June 2018, Builders Transportation did an estimated $72.4 million in revenue.
“We’ve had Builders Transportation on our radar for quite some time – we’ve been impressed with the focus and family-rooted culture of the company,” said Don Daseke, CEO of the company that bears his name.
Builders Transportation has been family owned and operated since Frank Phillips Sr. purchased the six-truck operation in 1961 and, along with his sons, has steadily grown the business to where it is today.
“The group of operating companies we’re joining reads like the ‘who’s who’ in flatbed and specialized trucking,” said Gene Phillips, COO of Builders Transportation, who also noted Builders looked forward to “sharing best practices and comparing notes on business strategy with our new sister companies” in the Daseke flatbed fleet network.