A Jacksonville-based auto transportation and logistics company run by the former CEO of Saia Inc. is planning an initial public offering.
Proficient Auto Logistics Inc. filed a registration statement with the Securities and Exchange Commission on April 11 to sell an unspecified amount of stock in its IPO.
The company has no operating businesses but has agreements to acquire five companies that produced a combined revenue of $415 million in 2023, according to the SEC filing.
Proficient will be run by CEO Richard O’Dell, who has served as board chairman of Saia since retiring as chief executive of that Georgia-based trucking company in 2020.
According to the SEC filing, Proficient was founded in June 2023 and reached agreements last year to buy the five companies.
“We will operate one of the largest auto transportation fleets in North America based upon information obtained from leadership of the Auto Haulers Association of America, utilizing roughly 1,130 auto transport vehicles and trailers on a daily basis, including 615 Company-owned transport vehicles and trailers, and employing 649 dedicated employees,” the filing said.
“From our 49 strategically located facilities across the United States, we offer a broad range of auto transportation and logistics services, primarily focused on transporting finished vehicles from automotive production facilities, marine ports of entry, or regional rail yards to auto dealerships around the country,” it said.
Proficient’s headquarters office is at 12276 San Jose Blvd. on Jacksonville’s Southside. The filing does not say how many people it will employ at the headquarters.
The company intends to close the five acquisitions concurrently with completing the IPO, but the filing does not have a timetable for that.