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COVID Drives Trucking Industry Consolidation

December 16, 2020


The economic fallout from the impact of the coronavirus pandemic has prompted a number of carriers to consolidate.

“The pandemic, and resulting conditions, has accelerated the trend of acquisitions in the trucking space,” Spencer Tenney, president of the transportation merger and acquisition advisory firm Tenney Group, told Transport Topics. “In addition to offsetting rising expenses, which was influencing deals before the pandemic, an interesting factor driving acquisitions is diversification. COVID-19 has demonstrated how dangerous it can be to have 100% of your revenue tied to one industry, or vertical.”

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