*Written by Evan Hoopfer and approved for reprint by Dallas Business Journal.
The growth strategy of Daseke, Inc. (NASDAQ: DSKE) is clear — grow through acquisitions of companies that aren’t for sale.
Between May 1 and Sept. 5, the Addison-based trucking firm acquired four companies, and its stock price has responded well. Shares are up nearly 38 percent for the newly public company.
Daseke Inc. is the public company honoree for this year’s Dallas Business Journal Outstanding Director Awards, to be held on Nov. 8. Founder and CEO Don Daseke credits the board for understanding the company’s mission.
“I think the board’s biggest accomplishment is to understand that we are an acquisition company,” said Don Daseke, president, chairman and CEO. “We are a consolidation company. We’re not an established, large company that’s just refining processes.”
“We’re building a company and therefore we’re building processes,” he added. “And for the board to understand that we’re building and consolidating this market is really a credit to the board.”
In anticipation of this year’s awards, members of the board from Daseke sat down with the DBJto share their thoughts on what has made the board successful.
What’s driving success for the company?
Don Daseke: I think what’s driving success is a niche strategy that’s different from other companies. As a consolidator of the market, we are consolidating our way by identifying and bringing not-for-sale companies into the Daseke family. That’s very different. And we do it a different way, by not eliminating any jobs of any company that joins us.
What attracted you to this role?
Brian Bonner, independent director: Visiting with Don, I could really see the company had a purpose and a focus on what they were trying to do. The acquiring of small companies was really exciting. And the fact that they were going after premiere small companies that could remain semi-autonomous while they joined Daseke really made me feel that this was going to be a company that had a lot of legs.
The Daseke board is the public company honoree for the Dallas Business Journal’s Outstanding Director Awards.
Photography by Jake Dean
What’s the biggest challenge to growth?
Bonner: I think the challenge to growth is the opportunity out there right now. The number of companies that we’re looking at is just tremendous. The effort to look at each of these companies and do the due diligence takes time. I think the limits to growth are the man power to spend time talking to these companies and being able to secure the right companies and bring them into the Daseke fold.
What do you mean by mending cultures?
Gafford: Culture is a hard thing to establish and a harder thing to change. When you bring different cultures into one entity, there’s got to be a common ground. Mending those cultures means having them understood and not in conflict with each other.
