The PrimeMark Group recently completed the sale of a leading drayage transportation company to a publicly-traded company. The seller has been working with The PrimeMark Group for over 8 years in a variety of projects aimed at positioning the company for sale.
During the sale process, the Dynamex verdict was handed down. In spite of the negative and far-reaching aspects of this decision for the transportation industry, The PrimeMark Group was able to work with the company and the seller to create a structure that resulted in the buyer fully indemnifying the seller from any liability related to misclassification issues.
This structure paved the way for a successful consummation of the sale transaction and is potentially available for other transportation companies interested in selling their business given the issues of the Dynamex verdict.
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