Daseke Acquisition, Valuation, Funding & Investors

Daseke was acquired by TFI International for $1.1B in December 2023, a 0.6x multiple on $1.8B of revenue.

Daseke acquisition price

$1.1B

Acquired by TFI International · Dec 2023

Daseke revenue at acquisition

$1.8B

Last twelve months · Dec 2023

Daseke revenue multiple at acquisition

0.6x

EV/Revenue · Dec 2023

Daseke EBITDA multiple at acquisition

6.0x

EV/EBITDA · Dec 2023

Daseke Overview

About Daseke

Daseke is North America's largest flatbed and specialized trucking carrier. Addison-Texas headquartered, it operates a fleet of 4,000 tractors and 7,500 trailers serving 49 U.S. states, Canada, and Mexico. The company transports oversized loads for industries including construction, energy, and manufacturing, with services encompassing heavy haul, escort vehicles, and permits. Daseke went public on NASDAQ in 2016 and merged with Heniff Transportation in 2022 to expand its reach.


Founded

2008

HQ

United StatesDallas, TX

Website

daseke.com

Status

Acquired

Customer focus

B2B

Revenue model

Services

Revenue

$1.8B (Dec 2023)

Valuation

$1.1B (acquired Dec 2023)

Daseke Acquisition

Daseke was acquired by TFI International for $1.1B on 22 December 2023.

The acquisition price implies a 0.6x revenue and 6.0x EBITDA multiple on $1.8B of revenue.

Before the acquisition Daseke had raised $4M across 1 funding round.

Daseke, Inc., a leading North American flatbed and specialized transportation and logistics company headquartered in Addison, Texas, operates approximately 4,900 tractors, 11,000 flatbed and specialized trailers, and one million square feet of industrial warehousing space, servicing challenging industrial end markets including high-security cargo, agriculture, manufacturing, and construction. Ranked as the sixth largest specialized transport company globally and second in North America per 2023 rankings, Daseke focuses on comprehensive solutions for major shippers. TFI International Inc., a Montreal-based North American leader in transportation and logistics with a history of 126 acquisitions since 2008, agreed on December 22, 2023, to acquire Daseke for $8.30 in cash per common share, representing a 69% premium to the December 21 closing price and 82% to the 30-day VWAP, in an all-cash transaction with a total enterprise value of approximately $1.1 billion including common stock consideration, retirement of preferred stock, debt payoff or assumption net of cash, and transaction expenses. The deal, unanimously approved by both companies' boards, was not conditioned on financing and funded via TFI's cash balances, available financing, and retention of certain Daseke equipment financing, with TFI closing a $500 million term loan on March 22, 2024. TFI views the acquisition as highly complementary, scaling its Truckload segment to $3.6 billion in annual revenue and leveraging Daseke's expertise in resilient specialized markets amid current dynamics; it expects EPS-neutral impact in 2024 and at least $0.50 accretive in 2025. The transaction advanced TFI's strategy to potentially spin off a specialized truckload business separate from its LTL, package & courier, and logistics operations, with immediate focus on improving Daseke's financial results. Subject to shareholder approval of a majority of Daseke's outstanding common stock, regulatory approvals, and customary conditions, the acquisition closed on April 1, 2024. Post-closing, Daseke's common stock ceased trading on NASDAQ, and its portfolio of brands now operates within TFI International's Truckload segment.

Daseke acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
22 Dec 2023Strategic M&A$1.1B0.6x6.0x

Daseke Funding History

Daseke has raised a total of $4M across 1 funding round.

Daseke funding rounds

Daseke funding rounds
DateStageRaised
Mar 2014Seed$4M

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Acquisitions by Daseke

Daseke has acquired 5 companies to date.

Last acquisition by Daseke was on April 16th 2018. Daseke acquired Aveda Transportation and Energy Services for $95M.


Latest Acquisitions by Daseke

Aveda Transportation and Energy Services
R & R Trucking
The Steelman Companies
Big Freight Systems
Description
Aveda Transportation and Energy Services is a Calgary-based provider of integrated oilfield hauling, equipment maintenance, and energy services across Western Canada. Listed on the TSX Venture Exchange since 2007, the company operates specialized fleets for heavy haul, hot shot delivery, and shop rebuilding processes. Aveda serves upstream oil and gas clients with pre-planned logistics ensuring safe, efficient transport of oversized loads and rig moves in Alberta, British Columbia, and Saskatchewan.
R & R Trucking is a security-focused carrier operating three subsidiaries including R&R Trucking Inc. and NEI Transport. The companies transport arms, ammunition, explosives, radioactive materials, and hazmat using team drivers from terminals in Illinois, Texas, and California.
The Steelman Companies is a logistics provider specializing in flatbed freight hauling, oversized cargo transport, and heavy equipment movement across North America. Based in Texas, the firm manages brokerage operations, dedicated fleet runs, live loading, and drop-and-hook services for industrial clients. It serves sectors like construction, energy, and manufacturing with tailored supply chain solutions from its headquarters in Houston.
Big Freight Systems is a Woodstock, Ontario-headquartered trucking and freight management company operating across Canada and into the United States. With origins tracing to 1952, it provides full truckload, less-than-truckload, and intermodal services using its fleet of over 400 tractors and 1,200 trailers. The company partners with carriers for specialized logistics including temperature-controlled transport and dedicated routes for manufacturing and retail clients.
HQ CountryCanadaUnited StatesUnited StatesCanada
HQ City
Calgary
Joplin, MO
Eugene, OR
Winnipeg
Deal Date16 Apr 20185 Sep 20175 Jul 20171 May 2017
Valuation$95M$38M$27M$37M
EV/Revenue
EV/EBITDA

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Daseke Competitors

Daseke competitors include listed companies like Marten Transport, Prosegur Cash, Dazhong Transportation and Hangzhou SF Intra-City, and private ones like Yunniao Delivery and Shanghai ANE Logistics.

Public and private companies comparable to Daseke
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Marten TransportUnited StatesUnited StatesPublicly listed$884M$130M$1.1B1.1x
Prosegur CashSpainSpainPublicly listed$2.3B$389M$1.1B0.8x
Dazhong TransportationChinaChinaPublicly listed$332M$132M$1.2B-
Yunniao DeliveryChinaBeijingPrivate--$1B-
Shanghai ANE LogisticsChinaChongqingPrivate--$1.2B-
Hangzhou SF Intra-CityChinaChinaPublicly listed$3.4B$54M$991M0.2x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Marten Transport$884M$130M1.1x1.1x7.7x7.6x
Prosegur Cash$2.3B$389M0.8x0.8x4.8x4.4x
Grindrod$336M$192M3.3x2.8x5.8x11.1x
Dazhong Transportation$332M$132M4.8x-12.2x-
Blue Dart Express$640M$98M1.9x1.8x12.6x16.1x
Hangzhou SF Intra-City$3.4B$54M0.2x0.2x11.8x8.4x
Keytop Parking$124M$29M7.5x-32.3x-
Reysaş Lojistik$257M$142M4.8x-8.6x-

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Common questions about Daseke

When was Daseke founded?Daseke was founded in 2008.
Where is Daseke headquartered?Daseke is headquartered in Dallas, TX, United States.
Is Daseke publicly listed?No, Daseke was acquired by TFI International in December 2023.
Who acquired Daseke?Daseke was acquired by TFI International in December 2023.
How much was Daseke acquired for?Daseke was acquired for $1.1B in December 2023, a 0.6x revenue multiple.
How much funding has Daseke raised?Daseke has raised $4M across 1 funding round.
What was Daseke's last funding round?Daseke's last funding round was a $4M seed round in March 2014.
Which companies are comparable to Daseke?Companies comparable to Daseke include Marten Transport, Prosegur Cash, Dazhong Transportation, Yunniao Delivery, Shanghai ANE Logistics and Hangzhou SF Intra-City.
How many companies has Daseke acquired?Daseke has acquired 5 companies, including Aveda Transportation and Energy Services, R & R Trucking, The Steelman Companies, Big Freight Systems and Schilli Transportation Services.
What was the largest acquisition by Daseke?The $95M acquisition of Aveda Transportation and Energy Services in April 2018 is the largest acquisition Daseke has made to date.

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