Schneider National to go public

Schneider National, the largest privately owned transport company in North America, will become a publicly traded company as soon as 5 April.

According to Transport Topics, Schneider National shares will be trading between US$18 (€16.6) and $20 (€18.4)– indicating an overall valuation between $5.5 billion (€5.1 billion) and $7 billion (€6.4 billion).

The news service also uncovered that the company’s earnings in 2016 increased 11 per cent to $156.9 million (€144.4 million). In 2015, the company reportedly earned $140.9 million (€129.7 million) in profits, compared to $133.6 million (€122.9 million) in 2014.

“Operating income, or the amount left over when expenses were deducted from revenue, also rose each of the past three years from $239.3 million (€220.3 million) in 2014 to $260.2 million (€239.5 million) in 2015 and $290.4 million (€267.3 million) in 2016.”

The company itself will receive no proceeds from the sale of stock by the selling shareholders, who consist mostly of members of the Schneider family and directors and executive officers of the company, according to the Milwaukee Business Journal.

With only 28.9 million of 185 million Class B shares going on sale – some 83 million Class A shares are also outstanding – company executives such as the Schneider family voting trust and CEO Chris Lofgren will reportedly retain a significant power over shareholder matters.

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