Schneider National Prepares for IPO
Well-known truckload carrier Schneider National Inc. recently announced that it would be looking into an initial public offering (IPO). This move could benefit the organization, resulting in it being valued at a sum as high as $5 billion, including debt.
The company was founded in 1935, and serves an impressive list of clients including retail giants like Wal-Mart and Lowes. Schneider’s website states that the company’s annual revenue is $4 billion.
The company is accepting presentations from banks that would like to act as underwriters for its IPO. The company is looking to raise money in its IPO, with some saying the total could be as high as $700 million. This is the second time an IPO was considered -the first was in 2001. Schneider held off on the move at that point due to tumultuous market conditions.
Schneider National declined to comment on the specifics of their current IPO plans. The company has reaped benefits from the rise of ecommerce, as its fleet of large tracks give it a competitive advantage over big industry names like the United States Parcel Service and FedEx Corp.
Continued growth within the trucking industry is something that many carriers have sought but few have achieved – especially in recent years. But a forward-thinking mindset and proper planning have led the company to prolonged success. This isn’t the first move they’ve made with long-term growth in mind. Earlier this summer, Schneider National made headlines by acquiring Lodeso Inc. and Watkins & Shepard Trucking Inc. for an undisclosed amount of money.