Stevenson Completes Sale of DD&S Express, Inc.
Result: Business Sold to Strategic Buyer
Industry: Logistics – Trucking and Specialized Freight Transportation
Stevenson & Company completed the sale of DD&S Express, Inc. and DD&S Freight Brokers, Inc. (DD&S), headquartered in Baltimore, Maryland, to Bessemer Investment Company, a trucking transportation holding company, headquartered in Cleveland, Ohio.
Founded in 1986, DD&S was established to fill the need for a quality trucking firm with expertise in high, wide and heavy loads needing special handling. DD&S provides specialized trucking services on a nationwide basis through a network of Agency Terminals. These terminals are strategically located in key market areas throughout the continental United States. Over the years, the Company has extended its authority to include the various Canadian provinces. DD&S has also added the equipment and knowledge to handle the most challenging freight shipments referred to as “Super Loads”.
Stevenson & Company was retained as sale advisor by the shareholders of DD&S. Bessemer was identified as an attractive suitor since they operate in similar market sectors and have the knowledge and resources to take DD&S to the next level.
“We are excited to become a part of Bessemer as the business combination will yield significant synergies and other benefits. Stevenson skillfully facilitated the process to get the transaction done quickly with minimal disruption to our business” said Rick Seleski, president of DD&S.
Townsend “Townie” Burden, DD&S Shareholder, commented: “The Stevenson team maximized company value and completed the transaction in six weeks. We were delighted”.
Stevenson served as an excellent trusted advisor throughout. They provided me with precisely what I needed – an aggressive go-to-market approach, the guidance to present Aerostar’s story and future strategy, and the drive to get it successfully closed! And this is what retirement looks like!