Daseke acquires Aveda Transportation and Energy Services

On June 6, 2018, Daseke, Inc. (NASDAQ: DSKE), the largest owner and leading consolidator of open deck specialized transportation solutions in North America, closed its acquisition of Aveda Transportation and Energy Services Inc. for approximately $42.6 million, or C$0.90 (US$0.70) per share, plus a payoff of Aveda debt totaling $54.8 million.

The terms of transaction included $27.3 million in cash and approximately $15.3 million worth of shares as part of the acquisition.

Aveda is one of the largest providers of specialized transportation services and equipment required for the exploration, development and production of petroleum resources in the US and Canada.

The purchaser, Daseke, was advised by its General Counsel Soumit Roy, together with Staff Attorney Heather Flores-Ricks. Canadian counsel to Daseke was Miller Thomson LLP with a team led by Pierre Soulard and included Mark Hosseinian, Victoria de Luna, Konstantin Starostin and Yasir Samad (Corporate/M&A & Securities), Nicole Taylor-Smith (Litigation), Gerald Courage and Neil Gurmukh (Tax) and Lisa Goodfellow (Employment) among others. US counsel to Daseke was Vinson & Elkins LLP with a team led by Alan Bogdanow and included Lanchi Huynh and Michael Gibson (Corporate/M&A & Securities).

Aveda Transportation and Energy Services was advised by Burstall LLP with a team led by Doug McCartney and included Adrian Harvey and Alex Parken (Corporate/M&A & Securities) and Robert Iverach (Tax).