In the Hot Seat | The Business of Transportation

This week on The Hot Seat, Spencer Tenney is joined by KSM Transport Advisor's President David Roush and COO of Canada Chris Henry. Spencer, David and Chris go over the role that operational due diligence plays in M&A, knowing when to kill a deal, and the data that is most important to any successful deal.    Interested in selling your transportation business? Click the link below to...

Paul Marston was the CEO of Abenaqui Carriers. The company was started by Paul's parents and he took over as CEO in 2001. A little over a year ago, Paul and the family decided to start exploring a sale of their business. Eventually, they found the right buyer in Roberts Energy / Brown Bear Transportation. This deal ended up creating one of the largest fuel haulers in the New England area.  &n...

On today's episode of The Hot Seat, Bill Prevost joins us. He is the Chairman and CEO of the Paladin Group. They are one of the most successful ESOPs in the trucking industry paying out over $80M in retirement funds. This week's Hot Seat conversation centers around whether or not an ESOP is right for your transportation business, who shouldn't consider an ESOP and a medical strategy that can save...

The transportation business has been great for the last few years. This has resulted in a lot of transportation companies having the strongest balance sheet that they’ve ever had. Cash is king but it does come with risk. On this episode of The Hot Seat, Brandon Knight of Clifton Larson Allen (CLA) joins the show to discuss how you can lower the risk associated with your cash position, what buyers...

In this episode of The Hot Seat, David Zickler wakes us up to the fact that we're getting ready to witness the largest wealth transfer in American History. David is a VP at Brown Brothers Harriman. This interview is filled with value for transportation business owners. We walk through what families can expect when setting up their succession planning, the role of a wealth advisor and investment ba...

Selling your business is more than likely going to be the largest financial event of your lifetime. You need someone on your team that will ensure this money helps you hit the financial goals you have. This week's Hot Seat guest is Laurie Atkins. She is the VP of Private Wealth Management at AllianceBernstein. Laurie walks us through why a wealth manager is so important to a successful business sa...

Tenney Group was founded almost 50 years ago by Charles Tenney. He had the vision to help transportation companies in America build the best businesses possible and leave a legacy for their families.   After decades in the business, Charles began to think about the next chapter for the Tenney Group. Should he sell to a third party? Should he sell to an employee? Should he sell to his chi...

JT Engstrom is the VP of Corporate Development and Strategy at Metafora. His focus is on partnerships, commercial relations and corporate development in the transportation space. Metafora (formerly CarrierDirect) are experts in all things transportation, logistics and supply chain strategy and technology.   Looking to acquire another transportation business? Join Tenney Group's private Buyer...

This week's Hot Seat interview with Spencer Tenney features a conversation with Todd Reiser. He is a Senior Vice President at Lockton Companies. With over 20 years in the business, you don't want to miss Todd's thoughts on the current trends in insurance for the transportation industry.   Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we ta...

Melvin Swafford is a Regional Vice President at Corporate Chaplains of America. Their company is on a mission to make a meaningful difference in the workplace. With 500,000 employees currently being served, we would say they are well on their way. In this episode of The Hot Seat, Spencer Tenny and Melvin sit down to discuss the transportation industry's employment culture and how the Corporate Cha...

Doug Grawe from The Grawe Group joins Spencer Tenney to discuss independent contractor programs, safety and handling driver retention in the transportation industry.   Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.  &nbs...

Wendy Greenland is the CEO of Openforce. Openforce is the leader in technology-driven services that reduce the operating costs and compliance risk for companies using independent contractors (ICs). On this episode, Wendy explains what your trucking company needs to be looking at when working with independent truck drivers and other independent truck drivers.   Looking to acquire another trans...

Loved having Beth Carroll, owner of the Prosperio Group, on the show. She breaks down the issues with driver retention in today's transportation world. Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.   https://www.thetenneygro...

Cummins Inc. (NYSE: CMI) and Meritor, Inc. (NYSE: MTOR) have announced a deal where Cummins will pay $36.50 in cash per Meritor share. This brings the total deal value to approximately $3.7 billion.   This is a major acquisition in the transportation industry. Spencer Tenney spoke with FreightWaves TV's Anthony Smith and Tony Mulvey about this acquisition and what it means for the transp...

Bill Zenk and Sara Larson of TrueNorth Companies stop by The Hot Seat to talk about the rising insurance costs of all transportation companies and some thoughts on how owners can mitigate these rising costs. Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible dea...

We’ve all heard that there is a truck driver shortage in America. The latest estimates put us at 80,000 drivers short. Well, one of the ways we can bring more drivers to the trucking career field is by improving the benefits they’ll experience. That is where our guest Kim Beck steps in. She is the VP of Benefits Consulting at Cottingham & Butler.   Get the report Kim mentioned in the epis...

Adam Blanchard is the CEO and co-founder of Double Diamond Transport, Inc. The transportation business has kept Adam plenty busy over the years but recently he felt the call to expand his service of Texans and the transportation industry by running for office.   Adam Blanchard is a successful entrepreneur, civic leader, and family man who is dedicated to giving back to our community. A p...

Have you noticed that the price of used equipment in the transportation industry is skyrocketing? We have.  That is why on this episode of The Hot Seat, Spencer Tenney sits down with Andy Vering,. He is the Director of Appraisal Services at Taylor and Martin, Inc. Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn abou...

In this episode, Spencer Tenney interviews Matt Rhoads, the former owner of Central Pennsylvania Transportation. Last year, Matt worked with the Tenney Group to sell his family trucking company, Central Pennsylvania Transportation. We talk about what made Matt consider selling, what surprised him about the process of selling a transportation company, and advice for someone else considering sales....

Katz, Sapper & Miller - Dan Rosio / Business Valuation / Hot Seat. Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.   https://www.thetenneygroup.com/buying-a-business/   Interested in selling your transportation busine...

Aon - Alan Ponce / Succession Planning - Value Gap Financing / Hot Seat. Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.   https://www.thetenneygroup.com/buying-a-business/   Interested in selling your transportation busi...

Workhound - Max Farrell / Driver Retention / Hot Seat. Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.   https://www.thetenneygroup.com/buying-a-business/   Interested in selling your transportation business? Click the li...

University of Tennessee - Chad Autry / Attracting Future Leaders / Hot Seat. Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.   https://www.thetenneygroup.com/buying-a-business/   Interested in selling your transportation...

CS Recruiting - Charlie Saffro / Recruiting Top Talent / Hot Seat. Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.   https://www.thetenneygroup.com/buying-a-business/   Interested in selling your transportation business?...

TrueNorth Companies - Dan Cook / M&A Diligence / Hot Seat. Looking to acquire another transportation business? Join Tenney Group's private Buyer Network where we take the time to learn about your specific business goals and only bring you possible deals that fit those goals.   https://www.thetenneygroup.com/buying-a-business/   Interested in selling your transportation business? Clic...