Daseke to acquire Werklund-backed Aveda
Daseke Inc (Nasdaq: DSKE), a U.S. flatbed and specialized transportation business, has agreed to acquire Aveda Transportation and Energy Service Inc (TSX-V: AVE), a Calgary-based oil rig moving company. Daseke agreed to pay $0.90 per share plus the assumption of debt. In addition, up to $0.45 per share in cash contingent consideration will be paid based on EBITDA earnings. Canada's Werklund Family Office, Aveda's largest shareholder, approved the deal, which is expected to close in June. Established in 1994, Aveda owns and operates a fleet of about 430 tractors, 660 trailers and 200 light-duty trucks. It generated $200 million in revenue in 2017.
16 April 2018•7 mins read
