private equity

Against the odds: No rat traps sprung as BDP sale saga ends with PSA biting

I almost – damn it, damn it, damn it! – reached my final ‘M&A destination’ yesterday, having thought and mused and talked relentlessly about the BDP International takeover for about 15 hours, until late evening…

… when some rather colourful remarks were shared, internally at Premium, by yours truly – given that it was all so strangely quiet for a classic forwarder/3PL + forwarder/3PL deal… about happen, according to sources.
“Someone said it’s …

The post Against the odds: No rat traps sprung as...

https://theloadstar.com/against-the-odds-no-rat-traps-sprung-as-bdp-sale-saga-ends-with-psa-biting/

Echo CEO Waggoner to The Jordan Company: ‘Let me run faster’

Shareholders of Echo Global Logistics (NASDAQ: ECHO), a leading Chicago-based third-party logistics provider, will gather Friday for an extraordinary meeting to vote on the 3PL’s acquisition by private equity firm The Jordan Company for $48.25 per share.

Echo’s management team is proud of the deal they struck with Jordan — $48.25/share represented a premium in excess of 50% of the company’s stock price when the deal was announced — and considers it a win for shareholders. But more than the...

https://www.freightwaves.com/news/echo-ceo-waggoner-to-the-jordan-company-let-me-run-faster

How will venture capitalists shape the future of freight?

Trucking in the fall

Investors who have been holding on to their cash due to pandemic-related uncertainty have reentered the arena, and many are eyeing the logistics space. The coronavirus pandemic simultaneously highlighted the industry’s importance and illuminated areas ripe for improvement in the space, drawing attention from private equity and venture capitalists alike. 

“It takes investment to create new things, especially when technology is involved. Any industry that has undergone significant change and...

https://www.freightwaves.com/news/how-will-venture-capitalists-shape-the-future-of-freight

Driver clearinghouse Tenstreet acquired by Providence Equity Partners

Tenstreet, a leading provider of driver recruiting software and workflow solutions for the truckload industry, announced Monday morning that it was acquired by Providence Equity Partners, a private equity firm. Spectrum Equity, which took a stake in Tenstreet in 2016, was a seller in the deal, although it retains a material equity position in Tenstreet.

Financial terms of the deal were not disclosed, and Tenstreet would not report metrics like revenue or EBITDA. The company has 132 employees on...

https://www.freightwaves.com/news/driver-clearinghouse-tenstreet-acquired-by-providence-equity-partners

Los banqueros ‘nunca habían visto un mercado más fuerte’ para la logística de terceros (3PLs)

El mercado para la compra y venta de proveedores logísticos a terceros y corredores de carga está al rojo vivo, según los banqueros de inversión de Capstone Partners, Burke Smith y Nathan Feldman. 

Las tarifas de todos los sistemas de transporte aumentaron rápidamente en el último año, intensificando el poder de ganancias de 3PLs y haciéndolos objetivos más atractivos. Pero los compradores – especialmente las empresas de capital privado – también están pagando más por esas ganancias,...

https://www.freightwaves.com/news/bankers-have-never-seen-a-stronger-sellers-market-for-3pls

Bankers have ‘never seen a stronger seller’s market’ for 3PLs

Buyers look for differentiation in an expensive field

The market for buying and selling third-party logistics providers and freight brokerages is red hot, according to Capstone Partners investment bankers Burke Smith and Nathan Feldman.

Rates for all modes of transportation rose quickly over the past year, pushing up 3PLs’ earnings power and making them more attractive targets. But buyers — especially private equity firms — are also paying more for those earnings, especially for larger...

https://www.freightwaves.com/news/bankers-have-never-seen-a-stronger-sellers-market-for-3pls

Arrive Logistics takes on over $300M investment led by ATL Partners

On Wednesday morning, Austin, Texas-based freight brokerage Arrive Logistics announced that ATL Partners, a New York City-based private equity firm focused on aerospace, transportation and logistics, led a funding round of more than $300 million to become Arrive’s largest minority owner. ATL Partners was joined by Baupost Group, British Columbia Investment Management Corp. and Temasek.

ATL Partners will add Andrew Clarke, Jerome Lorrain and Paul Bell to the board of directors. Clarke, formerly...

https://s29755.pcdn.co/news/arrive-logistics-takes-on-more-than-300-million-investment-led-by-atl-partners

Analysis: ORBCOMM buyout – short odds on a bidding war?

The track and trace of a satellite firm (and why it matters to logistics)?
‘Detour risk’
Well, first off, the de-listing of Internet-of-Things firm ORBCOMM via a buyout may take a detour.
It received a $1.1bn bid, including net debt, on 7 April – the deal was disclosed the following day – from private equity house GI Partners. But so far that’s where the good news for its shareholders may end if the …

The post Analysis: ORBCOMM buyout – short odds on a bidding war? appeared first on The Loadstar.

https://theloadstar.com/analysis-orbcomm-buyout-short-odds-on-a-bidding-war/

M&A radar: major private equity deals in logistics? Don’t hold your breath

One side of the “private equity story + logistics appetite” is here, in a well-written post published last week by The Loadstar – and headed: “Why private equity is into logistics, and here to stay“.
Another less conventional angle, however, in what isn’t a formal rebuttal of the much-appreciated coverage by a special guest from the private equity (PE) world is rather that private equity occasionally flirts with logistics, and when the …

The post M&A radar: major private equity deals in...

https://theloadstar.com/ma-radar-major-private-equity-deals-in-logistics-dont-hold-your-breath/

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