Gigg Express

After what Maisliner did to them, I'm surprised they're still in business...
 
heard Tranforce took over Gigg for 38 million, could be a rumor, can anybody confirm??
 
YYZRIDER said:
heard Tranforce took over Gigg for 38 million, could be a rumor, can anybody confirm??
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that is an extremely large number they would have to have one heck of a bottom line to be paid that....As well TFI has been purchasing intermodal as well LTL companies not truckload carriers pretty sure they are not looking at truckload carriers in Canada
 
That figure doesn't jive. With about 300 trucks on the road, there is not way to justify a number like 38m. I would bet that this is a broken telephone rumor.
 
But when you sell a company with 300 trucks, you sell all clients who are generating revenue. One long haul truck generates about half a million per year, correct if I am wrong.
 
Rob said:
Do some math and come up with a number. Yours is way off on a single driver dry van operation.
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He said revenue so it makes sense. I would say it would be anywhere between $300,000 to $500,000.
 
youngtea said:
He said revenue so it makes sense. I would say it would be anywhere between $300,000 to $500,000.[/QUOTE


Big difference in 300k and 500k . Can 500 be done yes but I find it hard to believe a 300 truck fleet is doing it not with the amount of brokered freight and auto parts they haul. I would be willing to bet average is more like 250k
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500K would be 4 bucks a mile on all miles, assuming 125000 miles over the year. That's pretty rich and probably not typical in truckload van. I would peg average per truck revenue (truckload van irregular route) at 250K ... 300K tops. 38 million for a 300 truck operation doesn't sound out of line to me.. they're likely generating 75 million a year in sales..6 to 10 million a year in profits if they're consistent with industry average.
 
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Freight Broker said:
500K would be 4 bucks a mile on all miles, assuming 125000 miles over the year. That's pretty rich and probably not typical in truckload van. I would peg average per truck revenue (truckload van irregular route) at 250K ... 300K tops. 38 million for a 300 truck operation doesn't sound out of line to me.. they're likely generating 75 million a year in sales..6 to 10 million a year in profits if they're consistent with industry average.
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But their rates are way below industry average. Everyone complains how they have under bid a bunch of business. Maybe this is the reason why the rumour is going around.

Have we heard anything concrete about the rumours with GIGG? I visited their dispatch last week and saw a number of 'yard' locations posted on their walls - each with the TransForce insignia. But then again, maybe they're just renting spots from TransForce.
 
Shakey said:
if they are for sale or sold why is Mike McCarron looking for logistics company for them to purchase......................................
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As someone who also is in the M&A business I can say that most carriers (and 3PL's) regardless of their long term plans are looking to purchase a logistics company. However, most are looking to purchase someone who is willing to take a small portion of the asking pricing up front and the balance over time using the profits of the 3PL. This is rarely what the seller wants to do. On the other hand, many (both carriers and 3PL's) who are looking to sell are also trying to purchase someone first to increase their revenue in an attempt to increase their selling price. I have met very few who are not interested in discussing either a sale or a purchase.
 
whatiship said:
As someone who also is in the M&A business I can say that most carriers (and 3PL's) regardless of their long term plans are looking to purchase a logistics company. However, most are looking to purchase someone who is willing to take a small portion of the asking pricing up front and the balance over time using the profits of the 3PL. This is rarely what the seller wants to do. On the other hand, many (both carriers and 3PL's) who are looking to sell are also trying to purchase someone first to increase their revenue in an attempt to increase their selling price. I have met very few who are not interested in discussing either a sale or a purchase.
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What you're saying is that everything is for sale - it's all about the price.

Feel free to contact me if you have opportunities either way.....
 
I'm not sure what the drive is to be on all these lists? Some I get but most just take what you submit so not sure how accurate they really are.
 
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