How does the changing market condition affect M&A in freight? Find out with our returning guest, Spencer Tenney from Tenney Group!

Here's What to Learn From This Episode:

• M&A Market Trends: Current market volatility affecting M&A in freight; mixed industry responses—some waiting, others pursuing acquisitions. Tariffs and uncertainty driving cautious capital allocation decisions.

• Buy vs. Build Decisions: Companies often prefer M&A to build capabilities like AI due to tight margins and market challenges. Increased diligence in capital allocation noted as firms manage risk, with a cultural inclination towards acquisition over development.

• Cash Flow & Consolidation: Small transport businesses financially fragile, most operate month-to-month. Rising bankruptcies from cash flow issues. Industry consolidation growing as small operators exit or merge for increased profitability, driven by sustainability and risk factors.

About Spencer Tenney

Spencer Tenney is President and CEO of the Tenney Group, a merger acquisition advisory firm dedicated to the transportation industry since 1973. The Tenney family has been serving the transportation industry for three generations. Spencer is a graduate of the University of Texas in Austin, He is also the only Certified Merger & Acquisition Advisor (CM&AA) in North America that is dedicated exclusively to the transportation industry. Spencer and his team have closed hundreds of transportation business sales across the United States. Tenney Group clients are companies in the trucking, logistics, passenger transportation industries with annual revenues of 20M - 300M. Spencer's articles have been featured in Fleet Owner, Transport Topics, School Bus Fleet and many other industry publications.

He is a sought-after speaker at national and state industry trade shows and currently serves as Chair of the American Trucking Association's M&A Task Force. Spencer and his wife Lauren reside outside of Nashville in Franklin, Tennessee. He enjoys songwriting and is actively involved in the Hope Clinic, a faith-based organization that equips women, men, and families to make healthy choices regarding unplanned pregnancies, depression, & addictions. He is also the founder of "Tuesdays with Tenney Group, a networking group designed to enrich relationships and business opportunities for Historic Downtown Franklin, TN professionals.

Connect with Spencer

• Website: https://www.thetenneygroup.com/
• LinkedIn: https://www.linkedin.com/in/spencertenney/

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