M&A
confidence high
sentiment positive
materiality 0.85
PAM Transportation acquires Metropolitan Trucking for ~$79.8M; expects immediate EPS accretion
PAMT CORP
- Total purchase price $79.8M: $64.3M cash + $15.5M assumed debt; enterprise value $77.4M on cash-free, debt-free basis.
- Acquired business: 320-truck dry van carrier; LTM revenue $83.3M ($75.4M ex fuel), EBITDA $22.1M, operating income $13.5M.
- Funded from available cash; expected to be immediately accretive to EPS (ex transaction costs).
- Estimated tax savings ~$14.4M in current year from step-up in tax basis of physical assets.
- Current management to remain (CEO retiring); first PAM acquisition in ~20 years.