For approximately 70 years, FTL has provided high quality service to its customers. The most recent owner, Todd Harman, built a highly capable management team that is expected to continue running the company for the foreseeable future. During his ownership, FTL has strengthened its customer relationships resulting in more than doubling the company’s annual revenue.
Celadon, a publicly traded trucking company, is one of the largest and most progressive transportation and logistics companies in North America. It provides long-haul and regional full-truckload freight services across the US, Canada, and Mexico. With an agenda for rapid expansion, it is a great synergistic fit with FTL tied with many cultural complements that will harness significant potential for both companies. Mr. Harman feels he has found the perfect acquisition partner to take his company forward.
The process was led by ACT’s execution team of, Robert Hild, Managing Director and Senior Associate, Troy Jenkins. ACT used its unique approach of representing its clients throughout the M&A process. Due to its highly proactive M&A strategy, ACT was able to find the best financial and strategic buyer for the company. While many M&A transactions can take 18 to 24 months to begin the marketing process, locating the right buyer, and close a transaction, ACT was able to successfully carry the process from beginning to end in approximately eight months. According to Mr. Hild, “The short M&A time frame, in comparison to our competitors, is a result of our diligent process. With our resources and capabilities an eight month closing is very typical for ACT, yet something we are proud of.”
ACT and FTL both express appreciation for the Celadon Group. Their professionalism and capabilities make them extremely pleasant to work with throughout the process. ACT wishes Celadon and FTL success as they move forward with integration of the acquisition.
About ACT Capital Advisors
ACT Capital Advisors has a strong presence in the Mergers and Acquisitions industry. The company has over 20 years of experience and has represented over $1.2 billion in M&A value. It represents businesses across a variety of industries including manufacturing, petroleum, transportation, distribution, logistics, technology, healthcare, aerospace and outsourced services. Headquartered in Bellevue, WA ACT has offices in Bellevue, Portland, Phoenix and New York. It has a unique process that creates significant value for business owners as they go through the emotional and extremely challenging task of selling a company.