Mergers and Acquisitions: Sell Side for Trucker Path, Inc.

  • Background: Trucker Path, Inc., is a leading software platform for the trucking industry. Trucker Path’s core product is the Trucker Path app, a trip planning companion for truck drivers, enabling a large driver community to assist each other in updating the real-time status of relevant points-of-interest on their route. Expanding on the success of the Trucker Path app, Trucker Path also introduced the Truckloads app, a mobile marketplace providing freight load matching with over 3 million loads posted monthly.
  • Cassel Salpeter:
    • Served as the exclusive financial advisor to the Company
    • Ran a competitive sales process contacting approximately 50 potential strategic acquirers, resulting in 6 indications of interest
  • Challenges:
    • The Company had a solid user base and software platform, but had not monetized the assets well
    • Company management and board dynamics
  • Outcome: In December 2017, Trucker Path was acquired by Renren.