5 auto haulers combining to create publicly traded trucking company

A Florida-based auto hauler, Proficient Auto Transport, is the lead company in the process of rolling up several other auto haulers with plans to take itself public in an initial public offering.

In a prospectus filed with the Securities and Exchange Commission and made public last week, Proficient Auto Logistics was introduced as the name of the company that will acquire five auto haulers at the time the IPO goes through: Delta Automotive Services, Deluxe Auto Carriers, Sierra Mountain Group, Tribeca Automotive and Proficient Auto Transport, whose Jacksonville-based management is behind the roll-up plan and whose name is the basis for the name of the new publicly traded entity.

The IPO, when complete, will add a publicly traded trucking company to the investment community after several truckload or trucking-related companies have disappeared in recent years due to acquisitions: USA Truck, U.S. Xpress, Echo Global Logistics, Daseke and Travel Centers of America.

Proficient Auto Logistics will be listed on Nasdaq: (NASDAQ: PAL).

Source: freightwaves.com