Bumpy road for companies looking to go private

This year is not starting out favorably for publicly traded fleets that want to convert to private ownership. Equipment pre-buys and disappointing freight volumes in 2006 and on into 2007 have contributed to trucking companies’ disappointing earnings and depressed stock prices, argues Gary Ciuba, a managing director at Stephens Inc. Although early 2007 was a good environment for going private, market conditions as of late 2007 have dictated a change in strategy, he told Fleet Owner. In the first five months of 2007, private equity acquired 16 for-hire carriers, Ciuba said, which was more than ...

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From the Print Issue

November 2009

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