Episode 151 - M&A in the Trucking Industry with Spencer Tenney
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If you\\u2019re thinking about exiting your trucking company, do you know how to make your carrier as attractive as possible to potential buyers?\\xa0
Spencer Tenney is Managing Partner of the Tenney Group, a family run advisory firm of 40+ years, which is focused on business sales, acquisitions and business valuations, but only in the transportation industry.\\xa0
To date, Spencer has helped the Tenney Group close more than 75 transportation business sales across the United States. Most of his clients are companies in the trucking, bus, or chauffeured transportation industries with annual revenues of $2M - 200M.
\\u201cMost of our clients are founders, they built their business on a credit card and a prayer. And then some magic happened.\\u201d
So, if you\\u2019re a business owner looking for help to buy, sell or value your transportation company, don\\u2019t miss Spencer on this week\\u2019s episode of Recruit and Retain, because there are some significant pitfalls that come with mergers and acquisitions in this unique industry.\\xa0
What you\\u2019ll learn about in this episode:
- Impact of COVID on M&A in trucking
- How to make transition easier for drivers
- New proposed capital gains tax
- Business value directly correlates to risk
- The importance of financial reporting
- Their due diligence checklist
How to connect with [Spencer Tenney]:
- URL - The Tenney Group
- LinkedIn - Spencer Tenney
- Email - stenney@thetenneygroup.com
- Twitter - @TheTenneyGroup