Driving Ambition Sells to Transforce

Nolan & Associates is pleased to announce that it exclusively advised Driving Ambition in its sale to TransForce

“My experience on this transaction required a great deal of patience, teaching and hard work from the Nolan team. They possessed tremendous poise when working through the challenging negotiations of this deal.

Their team was always responsive and timely with whatever was needed, from our very first meeting to the day of our closing. The level of guidance they provided was invaluable to me and our whole team. I hope we have the opportunity to work together again.”

– Rodney Graham, President, Driving Ambition, Inc.

St. Louis, MO – (September 26, 2017) Nolan & Associates is pleased to announce that it exclusively advised Driving Ambition, Inc. in its sale to TransForce, Inc. Driving Ambition’s owner engaged Nolan to find a strategic buyer who had the same level of dedication as the Driving Ambition team to the transportation industry and its drivers, as well as for adhering to high safety and value standards for its clients. Nolan ran a confidential process to sell Driving Ambition based on the goals of the owner, and delivered several qualified buyers for the client to consider. The owner of Driving Ambition selected the ideal partner in TransForce, the nation’s leading workforce management firm specializing in commercial truck drivers.

About Our Client: Driving Ambition

  • Driving Ambition is an Indianapolis, Indiana-based regional provider of high quality commercial truck drivers.
  • Founded in 2001, Driving Ambition distinguishes itself within the commercial driver staffing industry by consistently providing exemplary customer service, recognizing the achievements of their drivers, deploying leading proprietary technology, committing to high safety standards and meeting Department of Transportation (DOT) compliance regulations.
  • Driving Ambition primarily provides staffing solutions to companies operating private fleets with more than 500 drivers. The Company serves more than 700 for-hire carriers and private fleet customers per year.

Objectives of Driving Ambition

  • As one of the largest and fastest growing commercial driver staffing companies in the country, Driving Ambition has experienced incredible growth due to the shortage of commercially-licensed drivers.
  • The owner of Driving Ambition was seeking a sale in order to work on a new transportation software company, DriverReach.
  • DriverReach’s recruitment management solution streamlines the recruiting and qualifying process of hiring commercial drivers.

Solution: Sale to TransForce

  • Founded in 1991 and based in Alexandria, Virginia, TransForce provides high quality commercial truck drivers to the transportation industry, including trucking companies, third party logistics companies and private fleets across North America.
  • TransForce is backed by private equity firm Palladium Equity Partners, LLC. TransForce is the only national staffing company exclusively devoted to the transportation industry. Accordingly, TransForce provides a high level of expertise with respect to both employing highly skilled truck drivers and understanding the regulatory requirements and DOT compliance factors that apply to truck drivers.

Result’s of Nolan’s Sell Side Process

  •  Both TransForce and Driving Ambition are focused on customer service, quality, compliance and safety, while simultaneously providing the greatest opportunities for their drivers.
  • These synergies made TransForce an ideal fit to meet our client’s goals of maximizing value and partnering with a larger organization with extensive resources.
  • “Driving Ambition is another perfect acquisition for us. Like TransForce, Driving Ambition was founded on the bases of quality, compliance and safety. Both companies have had success in focusing on customer service and providing the best opportunities for our drivers. Driving Ambition is a great addition to our company and a perfect fit in our acquisition strategy,” said David Broome, President and CEO of TransForce.
  • Driving Ambition will operate independently for the rest of 2017 and will be integrated into TransForce beginning the first quarter of 2018.
  • “The Driving Ambition team brings over a decade of experience in truck driver recruitment and fulfillment and are truly excited about the future with TransForce. Not only does TransForce mirror our quality business practices, they also mirror our dedication to the transportation industry. Our futures together will be extraordinary,” said Jeremy Reymer, CEO of Driving Ambition.

About Nolan & Associates

Nolan & Associates is a boutique investment banking firm providing Mergers & Acquisitions and Capital Raise advisory services to middle market business owners and buyers.  Founded in 1976, Nolan is broadly recognized as a leading investment banking firm with Midwestern roots and global reach.  The Nolan team has completed hundreds of transactions in the middle market while working collaboratively from its offices in St. Louis, MO and Decatur, IL.

Securities offered through Middle Market Transactions, Inc.  Member: FINRA/SIPC.

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