Case Study
Case Study
Schuh Transport, Inc. sells business assets to Kenan Advantage Group, Inc.
Client need
Schuh Transport, Inc., a trucking company specializing in the bulk transport of petroleum products, is a family business that has been serving its client base for nearly 40 years. When Steve and Tim Schuh, brothers and co-owners of Schuh Transport, looked to position themselves for retirement, they desired to find a buyer for the company. It was important to both Steve and Tim to find a buyer that would be a great fit for the company’s current employees while holding on to its established legacy.
Prior experience and satisfaction with tax professionals from Baker Tilly Virchow Krause, LLP gave Steve and Tim confidence in choosing Baker Tilly Capital as their investment bank to market Schuh Transport and its assets.
Baker Tilly Capital solution
The investment banking team at Baker Tilly Capital worked closely with Steve and Tim, as well as Baker Tilly’s accounting staff, to complete a comprehensive analysis of Schuh Transport’s situation and developed a confidential information memorandum (CIM) to present the company, including its assets and market opportunity. The team implemented a focused marketing process, targeting buyers that would have a strategic interest in the acquisition opportunity.
Results
Of the targeted potential buyers, the outcome of the transaction matched Schuh Transport with The Kenan Advantage Group, Inc. (KAG), which provided an optimal transaction structure for the company. KAG, recognized as North America’s largest tank truck transporter and logistics provider, is a logical partner for Schuh since the largest component of its business is its fuels delivery platform, which delivers refined petroleum products and renewable fuels to its regional and national customers.
My brother and I wanted to make sure we found the right buyer as a result of this process. With the help of Baker Tilly Capital, Kenan Advantage Group recognized the true value of our company and the synergies we provide, and we are excited about the opportunities this opens up for our employees moving forward.Steve Schuh, Co-Owner – Schuh Transport, Inc.
For more information on this topic, or to learn how Baker Tilly Capital specialists can help, contact our team.
