Logistics & Transportation

The BB&T Capital Markets Logistics & Transportation Group provides M&A, capital-raising advisory and corporate banking services to companies in the logistics and transportation industry, including third-party logistics providers, trucking, marine transportation, railroads, transportation equipment, infrastructure and waste services. Within the logistics and transportation industry, BB&T Capital Markets has completed more than 85 investment banking transactions since 2010.

 

BB&T Capital Markets is the most active middle market investment bank focused on the Logistics & Transportation industry, having completed more than 120 transactions since 2005

  • Transportation Insight, LLC

    On September 4, 2018, Gryphon Investors (“Gryphon”), a San Francisco-based private equity firm, announced that it made a majority investment in Transportation Insight, LLC (“Transportation Insight” or the “Company”), a leading asset-light provider of enterprise logistics and transportation brokerage services. Gryphon replaced Charlotte-based private equity firm Ridgemont Equity Partners as Transportation Insight’s majority owner. BB&T Capital Markets served as exclusive financial advisor to Gryphon.
     
    Transportation Insight is a North American-focused provider of tech-enabled enterprise logistics and freight brokerage solutions. It currently helps manage approximately $4 billion of annual transportation-related spend for over 1,500 clients, with expertise across a range of industries and end markets.

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  • MNX Global Logistics

    On July 3, 2018, MNX Global Logistics (“MNX” or the "Company"), a portfolio company of The Riverside Company (“Riverside”), was  acquired by Audax Private Equity (“Audax”). BB&T Capital Markets served as the exclusive financial advisor to MNX.

     

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  • Syngin Technology, LLC

    On July 3, 2018, Syngin Technology, LLC (“Syngin”) sold 70% of its membership interests to Wallenius Wilhelmsen ASA (“WWL”). Syngin's current owners will continue to own 30% of the company and remain highly involved in managing the business. BB&T Capital Markets served as the exclusive financial advisor to Syngin.

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  • Epes Transport System

    On July 2nd, 2018, Epes Transport System (“EPES” or the "Company") was acquired by Penske Logistics (“Penske Logistics”). BB&T Capital Markets served as the exclusive financial advisor to EPES.

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  • Ryder System, Inc. (NYSE: R)

    On June 14, 2018, BB&T Capital Markets served as a bookrunner for an offering of $450 million 3.750% senior notes due 2023 by Ryder System, Inc.

    Proceeds from the offering are being used for general corporate purposes.

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  • Union Pacific Corporation (NYSE: UNP)

    On June 5, 2018, BB&T Capital Markets served as a co-manager for a $6.0 billion six-tranche senior notes offering by Union Pacific Corporation.

    Proceeds from the offering are being for general corporate purposes.

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  • MXD Group

    On April 2nd, 2018, MXD Group (“MXD” or the “Company”), a portfolio company of Platinum Equity (“Platinum”), was acquired by Ryder System, Inc. (“Ryder”) for approximately $120 million. The acquisition strengthens Ryder’s omni-channel fulfillment capabilities, establishing it as the second largest last mile delivery provider of big and bulky goods. BB&T Capital Markets served as the exclusive financial advisor to MXD.

    “As many industries continue to be disrupted by the growth of e-commerce, Ryder remains at the forefront of helping our customers find new solutions,” said Robert Sanchez, Ryder Chairman & CEO. Terry Solvedt, Chief Executive Officer of MXD, noted: “We wanted to ensure we had the best possible advisor for this transaction. The selection of BB&T proved invaluable throughout the entire process. BB&T brought industry expertise as well as practical and thoughtful advice. Their work effort was greatly appreciated. And, thanks in large part to their extraordinary efforts, the transaction outcome was highly successful.”

    Link to Ryder Press Release

    Link to interview with Ryder CEO, Robert Sanchez, on CNBC

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  • Gulf Stream Marine

    On March 1, 2018, GSM Maritime Holdings, LLC and subsidiaries, doing business as Gulf Stream Marine (“GSM” or the “Company”), a portfolio company of The CapStreet Group (“CapStreet”), was acquired by Logistec Corporation (“Logistec”). BB&T Capital Markets served as the exclusive financial advisor to Gulf Stream Marine.

    Kevin Bourbonnais, Chief Executive Officer of Gulf Stream Marine, noted: “BB&T was a great partner throughout the process, providing constructive feedback and guidance at every stage. The success of the transaction is due in part to the significant efforts of the entire BB&T Team.”

    “We appreciate the opportunity to work with Gulf Steam Marine and CapStreet on this transformative transaction in the port services and logistics space,” said Hugh Rabb, Managing Director and Co-Head of the Logistics & Transportation Group at BB&T Capital Markets. “We are excited to see the Company find a partner in Logistec that shares its commitment to best-in-class service.”

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  • LaserShip, Inc.

    On March 1, 2018, LaserShip, Inc. (“LaserShip” or the "Company"), a portfolio company of Monitor Clipper Partners, LLC (“Monitor Clipper”), was acquired by Greenbriar Equity Group LLC (“Greenbriar”). BB&T Capital Markets served as the exclusive financial advisor to LaserShip.

    Blake Averill, Chief Executive Officer of LaserShip, noted: “The BB&T team was as passionate about telling our story as we were. Their industry expertise and process acumen enabled us to realize an excellent outcome in a tight timeframe. Keith, Hugh and team are true professionals.”

    “We appreciate the opportunity to work with LaserShip on this important step of their journey,” said Keith Prusek, Managing Director and Co-Head of the Logistics & Transportation Group at BB&T Capital Markets. “The management team has done an amazing job growing the Company and positioning it for continued success.  We look forward to following LaserShip as it executes on its growth plan in partnership with Greenbriar Equity Group.”

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  • Ryder System, Inc. (NYSE: R)

    On February 21, 2017, BB&T Capital Markets served as a co-manager for an offering of $450 million 3.400% senior notes due 2023 by Ryder System, Inc.

    Proceeds from the offering are being used for general corporate purposes.

     

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  • Kirby Corporation (NYSE: KEX)

    On February 7, 2018, BB&T Capital Markets served as a co-manager for an offering of $500 million 4.200% senior notes due 2028 by Kirby Corporation.

    Proceeds from the offering are being used to pay the aggregate purchase price of the recent Higman Marine, Inc. acquisition and for general corporate purposes.

     

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  • The Brink‚Äôs Company (NYSE: BCO)

    On October 5, 2017, BB&T Capital Markets served as a co-manager for an offering of $600 million 4.625% senior notes due 2027 by The Brink’s Company.

    Proceeds from the offering, along with proceeds from a new senior secured credit facility, are being used to repay the existing revolving credit facility, the existing term loan, and certain other existing indebtedness. Any remaining proceeds will be used for general corporate purposes.

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  • Seaspan Corporation (NYSE: SSW)

    BB&T Capital Markets’ Logistics & Transportation Group completed a transaction for a containership company in the fourth quarter of 2017, helping to raise $80,000,000 in gross proceeds for our client. The completion of this transaction marks BB&TCM’s fourth capital raise for Seaspan since 2016.

    The company intends to use the net proceeds of the offering to repay a portion of a secured credit facility and any remaining proceeds will be used for general corporate purposes, which may include funding vessel acquisitions and repaying other outstanding secured indebtedness. The notes will be due in 2027 and bare a coupon of 7.125%, paying quarterly starting first quarter of 2018.

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  • Ryder System, Inc. (NYSE: R)

    On August 1, 2017, BB&T Capital Markets served as a co-manager for an offering of $300 million 2.500% senior notes due 2022 by Ryder System, Inc.

    Proceeds from the offering are being used for general corporate purposes.

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  • Old Dominion Truck Leasing

    On July 14, 2017, Old Dominion Truck Leasing (“ODTL” or the “Company”) was acquired by Penske Truck Leasing (“Penske”). BB&T Capital Markets served as the financial advisor to ODTL and its shareholders.

    Founded in 1963, ODTL serves approximately 360 customers in diverse industry sectors from 11 locations in five states. The acquisition adds approximately 1,400 tractors, trucks, and trailers to Penske’s fleet. “Old Dominion Truck Leasing and Penske Truck Leasing customers will benefit from synergies in our products, technology, and services across our combined network of facilities,” said Brian Hard, President and CEO, Penske Truck Leasing.

    “We appreciate the opportunity to work with ODTL and the Congdon Family on this important transaction,” said Hugh Rabb, Managing Director and Co-Head of the Logistics & Transportation Group at BB&T Capital Markets. “Over more than a half-century, ODTL has built an exceptional reputation and proud history. We are excited to see the Company find a partner in Penske that shares its commitment to high-quality service.”

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Our Areas of Expertise

Third-Party Logistics:

Contract Logistics, Supply Chain Services, Transportation Management, Courier Express/Delivery, Expedited, Intermodal, Freight Brokerage, Freight Forwarding and Air Cargo

Trucking:

Truckload, Less-than-truckload, Bulk, Niche and Dedicated

Rail:

Class I, Short-Line Railroads and Rail Services

Marine:

International Shipping, Inland Barge and Port Services

Waste Services:

Collection and Processing/Disposal

Transportation Equipment:

Manufacturing, Distribution and Leasing

Passenger Transportation:

Motorcoach, Paratransit, Employee Transportation, Shuttle and Airport/Airline Service