Intermodal Trucking Company

(Mate Trucking) The sellers owned a company that transports goods from shipper to consignee either by truck or by rail. And they are growing their Cross Docking business for Import and Export loads. The sellers were a 3rd generation trucking company and wanted to ensure the buyers were strategic.  We had 2 offers the sellers turned down, as he wasn’t comfortable with the buyers.  We received a final offer with cash at the close with no seller financing. The business was sold in 3 months from the time that we listed it. The buyer was a regional trucking company that offered the same services. The due diligence process challenge was the buyers wanted to push a personal guarantee on any indemnifications. The seller’s lawyer kept pushing back until we worked out a mutually agreed-upon agreement. The sales were on a multiple of 2.89 multiple of net cash flow. The business had 22 employees.