Good deal at $14 million
by February 8, 1999 12:00 am 79 views
Remember P.A.M. Transportation Services Inc.’s acquisition of Decker Transport Inc. and Van Houten Ltd. announced in November?
P.A.M. Transportation did not reveal the purchase price of the Riverdale, N.J., companies at the time of the announcement. But late last month P.A.M, based in Tontitown, disclosed in a Securities and Exchange Commission filing that it will pay $14 million for the companies. Decker is an irregular route carrier that does business throughout the U.S., Quebec and Ontario. Van Houten is an equipment leasing company.
At the closing of the deal on Jan. 11, P.A.M. paid $8.9 million in cash to the companies. The remaining payment includes $4 million in five-year promissory notes and a potential $900,000 in cash within 90 days.
Decker did $48 million in revenue last year, about one-third of P.A.M.’s $147 million in annual sales.