How to buy a trucking company: buyer's strategy makes the difference

Jul 25, 2024 at 04:13 PM CST
In the competitive trucking sector, growth hinges on strategic moves that extend beyond daily operations. From market expansion and cost efficiencies to talent acquisition and competitive advantage, acquisition can offer a multitude of opportunities. First and foremost, do you have a clear objective for what you want the acquisition to achieve? This is a critical step that many buyers often overlook, as many believe that an acquisition is necessary to grow, emphasized Spencer Tenney, president and CEO of Tenney Group. “We always recommend folks to look inward,” said Tenney. Without having a clear outcome about what they’re trying to create through that acquisition, companies either misuse time and resources, or perhaps get the wrong deal completed and ultimately compound existing problems by not creating efficiency.

Jul 25, 2024 at 04:13 PM CST

In the competitive trucking sector, growth hinges on strategic moves that extend beyond daily operations. From market expansion and cost efficiencies to talent acquisition and competitive advantage, acquisition can offer a multitude of opportunities.

First and foremost, do you have a clear objective for what you want the acquisition to achieve? This is a critical step that many buyers often overlook, as many believe that an acquisition is necessary to grow, emphasized Spencer Tenney, president and CEO of Tenney Group.

“We always recommend folks to look inward,” said Tenney. Without having a clear outcome about what they’re trying to create through that acquisition, companies either misuse time and resources, or perhaps get the wrong deal completed and ultimately compound existing problems by not creating efficiency.