One of the notable middle market transactions closed in November when SP Plus Corp acquired Baggage Airline Guest Services, Inc., trading as Bags, Inc., for US$275 million in cash. SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics and baggage handling and related services to commercial, institutional, municipal and aviation clients. Baggage Airline Guest Services engages in the provision of airline related delivery and logistic services. It serves hotels and resorts, group travel, malls, cruises and aviation. The company is headquartered Orlando, FL.
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Industry Indicators
- The average US retail price for diesel and regular gas, a major operating cost for trucking fleets, fell 3.2% and 12.7%, respectively, in the week ending February 11, 2019, compared to the same week in 2018.
- Total US manufacturers’ shipments, an indicator of the volume of goods shipped by truck, rose 7.3% year-to-date in November 2018 compared to the same period in 2017.
- Total US revenue for general freight trucking rose 7.8% in the third quarter of 2018 compared to the previous year.
Posted by Peter Heydenrych.
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This post first appeared on CFA | Mergers, Acquisitions And Capital Resources, please read the originial post: here
