TransFinancial Management Seeks $17M Shareholder Buyout

The chairman, vice-chairman and president of TransFinancial Holdings have proposed a buyout of all of the outstanding stock in the company for $5.25 a share, or about $17 million.

Lenexa, Kan.-based TransFinancial is the parent of regional less-than-truckload carrier Crouse Cartage Co. of Carroll, Iowa, and Universal Premium Acceptance Corp., an insurance premium finance company.

The buyout proposal is subject to several conditions, including stockholder approval and financing, although a preliminary commitment for financing has been received, company officials said.

A committee of independent directors will review the proposal and other options.

TransFinancial stock is traded on the American Stock Exchange under the symbol TFH.

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