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like Middle America. Trucking is having
a lot of challenges moving forward.”
Ahern, who got his start in the
industry working on a loading dock, has
put together a staff of former truck- “we say ‘do you haVe aNy idea what your
ing executives who have gone through
the process of selling out. He believes busiNess is worth?’ aNd most of them thiNk it
there are no better consultants in his is worth too muCh.”
company than those who speak from —aNdy aherN
experience. Ahern says they are perfect aherN & assoCiates
because they know exactly what the
process of buying and selling entails.
Founded in 1987, Ahern &
Associates has sold more than 320
trucking and logistics companies and In that climate it is no wonder prepared, to get their heads around the
currently has more than 100 clients company owners might look to sell, idea that they are giving up the business
who are looking to acquire companies. Ahern said. that has taken up so much of their lives
Ahern himself is a noted author and “My gut feeling is if you have some- and for years has been the reason for
sought-after industry speaker. thing to sell and you have something getting up in the morning.
else to do with your life then do it,” he “The first thing is they’re not
No dEalS said. mentally prepared and they need to be
“I am not a deal maker,” Ahern before they go through the other two
said. “I am a matchmaker and there’s a WHaT’S For SalE? processes … you have to be willing to let
huge difference.” Ahern doesn’t represent sellers, go,” he said.
More than half the trucking com- but he does help them with input and Ahern advises that a seller consider
panies today have fleets of fewer than analysis to put an honest dollar value what he is going to do with his life
100 trucks. Yet, Ahern says, life is hard on their company. after his business is sold. He said a sale
for the smaller carriers, who are grap- Sometimes that hurts. sometimes comes with a brief period of
pling with the federal government’s new “The unfortunate thing is not euphoria followed by depression.
safety rating system, the acronym for everybody has something to sell,” Ahern “You need to be prepared that
which his “CSA” and a system that now said. “And that can be tough when a major portion of your life is going
assesses the relative safety, and accom- you’re dealing with someone to tell away,” Ahern said.
panying value, of trucking companies. them that, because you don’t want to If it’s a family business, being
There are a host of new federal hurt anybody’s feelings but at the same mentally prepared also means consult-
regulations like the drivers’ hours of time you’ve got to be truthful.” ing with the whole family, especially if
service rules, the new congressionally Many small trucking companies are there are members involved in running
mandated rule to install electronic family owned, and the owners frequent- the company.
devices in all trucks, new tax laws, a ly, because of the emotion attached, “The family has to be on the same
growing number of property and liabil- overvalue their business. Ahern says he page,” Ahern said. “They have to agree
ity lawsuits, driver shortages, and other has more than once had to explain to they are ready to go forward. Once you
challenges. potential sellers that all that time they start the process you can’t pull out at
“Take those components and I spent away from home, growing the the the last minute because you have
don’t know how much is enough,” business while missing their children’s cold feet.”
Ahern said. “They are putting so much sporting events and other milestones, Once mentally prepared, Ahern
pressure on the industry it’s been hard does not translate to dollars when it says the seller needs to find out the
for small companies to make a profit.” comes to assessing a company’s value. company’s value in the current mar-
Like many people involved in truck- “Most of them don’t have an exit ketplace and know his own values — be
ing, Ahern especially chafes at the gov- strategy,” Ahern said. “We say ‘Do you aware of any potential red flags or
ernment regulations. have any idea what your business is problems areas. Ahern’s many services
“We move 80 percent of all prod- worth?’ And most of them think it’s include not only financial reviews but
ucts in the United States and we have worth too much.” operational audits of all aspects of a
the safest industry in the world and Ahern and his team advise prospec- company, from dispatch to marketing
yet were the most chastised,” he said. tive sellers to do three primary things,
“That’s a good word.” the first of which is to be mentally  32

arkansas Trucking reporT | issue 4 2013 23