The Company provides nationwide transportation of diversified freight, focusing primarily on the flatbed segment of the truckload market.

The Company had under-performed for the past few years, in terms of both profitability and fleet utilization, compared to other truckload companies.

Working closely with management, Fort Dearborn Partners identified key market conditions and trends affecting the Company’s and the overall industry profitability, and developed plans to address the issues.  Key challenges were rising fuel costs, increasing driver wages, outsourcing of transportation/freight functions by many customers, reduction in the number of carriers approved by customers, increased sophistication of truck tracking and communication technology, and increasing insurance costs.

Fort Dearborn identified specific opportunities and assisted in the immediate implementation of several profit improvement actions including:

–Increasing linehaul rates, fuel surcharges and accessorial fees;

–Reducing tractor maintenance costs, improving internal efficiency through order entry and billing procedural changes, and reducing the number of agents and terminals; and

–Preparing fuel price hedging policies and reducing various other operating costs. 

Fort Dearborn also worked with management and developed short and long-term strategic plans, including a formal business acquisition strategy.

The Company implemented the strategic plan and, once again, become profitable and cash flow positive.

After the Company was operating properly, FDP was hired as investment banker to sell the Company.

FDP closed two transactions, simultaneously, with two different buyers.

FDP closed the transactions within 90 days of retention.