Alterman Transport Corporation

Alterman Transport Corporation

Alterman Transport Corporation

Structured Divestiture

Structured Divestiture

Business Description

Founded in 1938, this Florida-based company grew to become the second largest national LTL (“Less than Truckload”) carrier of perishable freight in the country with over 1300 employees and 3 million square feet of terminal space across the US.


Background

Following the death of founder Sidney Alterman, the shareholders engaged Carter Morse & Mathias to sell the business. During the process several offers were considered and were deemed to be inadequate when measured against the potential of an orderly liquidation of assets.


Solution

Carter Morse & Mathias orchestrated an orderly sale of all of the Company’s operating assets resulting in all creditors being paid in full, and significant after tax distribution to shareholders.


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