Daseke Said to Plan $200 Million Initial Public Offering

Daseke Inc., the trucking company that transports heavy loads, is planning an initial public offering, people with knowledge of the matter said.

The company, based in Addison, Texas, may raise about $200 million in the IPO, which could take place by the end of the year, said the people, who asked not to be named because the discussions are private. Daseke is working with Morgan Stanley, JPMorgan Chase & Co. and Credit Suisse Group AG on the share sale, the people said.

Industrial IPOs have performed better in the stock market since their debuts than any other industry this year, according to data compiled by Bloomberg. Industrials have jumped 51 percent based on a weighted average of the eight U.S.-listed deals including cement-manufacturer Summit Materials Inc. and Milacron Holdings Corp., which makes plastics products.

Daseke is the second-largest flatbed, open-deck and specialty trucking company in North America, according to the company’s website. With transportation offered in 49 states, Canada and Mexico, Daseke specializes in moving bigger items such as wind-turbine blades and aviation parts. The company operates under trucking brands including Smoke Point Distributing, E.W. Wylie and Bulldog Hiway Express.

At the end of 2014, the company said it projected revenue to be about $685 million for the year, an increase of 53 percent from 2013.

Representatives for Morgan Stanley, JPMorgan and Credit Suisse declined to comment on the IPO. A representative for Daseke didn’t respond to requests for comment.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE