With a relentless focus on the middle market, BB&T Capital Markets combines industry expertise with superior transaction execution capabilities to achieve extraordinary outcomes for our clients.
Our investment banking professionals work in cohesive teams to bring you a full spectrum of financial services. With BB&T Capital Markets you get a relationship-driven approach to providing the right solutions for your needs. We offer a full range of investment banking services—equity originations; public and private placements of debt; asset securitizations; mergers and acquisitions—along with direct lending capabilities, nationally recognized equity research, and access to specialty services such as insurance, supply chain finance, equipment finance, executive wealth management and treasury management.
Our broad approach brings results. In 2012 alone, our 70-plus investment bankers, arrayed in industry-focused and transaction specialty teams, were able to bring our clients:
Our bankers can handle clients from any field, but we have particular expertise in these sectors: Aerospace, Defense & Government Services; Automotive Aftermarket; Commercial & Industrial; Retail & Consumer; Education & Cultural Facilities; Energy; Financial Services; Financial Sponsors; Food & Agribusiness; Healthcare; Logistics & Transportation; and Real Estate.
On June 30, 2015, Eck Supply Company (“Eck Supply” or the “Company”), was acquired by Sonepar USA (“Sonepar”). Also, on June 26, 2015, the Lynchburg, Virginia, branch of Eck Supply was acquired by Electrical Equipment Company (“EECO”). BB&T Capital Markets served as the exclusive financial advisor to Eck Supply for both transactions.
On June 22, 2015, BB&T Capital Markets served as a co-manager for a $450 million offering of 5.20% senior notes due in 2025 by National Fuel Gas Company. Proceeds from the offering were used for general corporate purposes, including the reduction of short-term debt.
This offering represents the first bond transaction by National Fuel Gas to which BB&T Capital Markets has been invited.
BB&T Capital Markets served as the exclusive financial advisor to 1-800 Radiator and A/C, the largest franchised automotive parts distributor in North America, in its sale to Driven Brands, a leader in automotive service franchising and the parent company of such leading franchise brands as MAACO® and Meineke Car Care Centers®. Driven Brands is a portfolio company of Roark Capital Group.
“1-800 Radiator and A/C is a truly innovative platform in the automotive aftermarket,” said Rex Green, managing director in BB&T Capital Markets Automotive Aftermarket Group and head of Retail & Consumer investment banking. “The Company has transformed the aftermarket temperature control supply chain and as part of the Driven Brands family, we would expect it to continue to apply its advanced technology and business processes to other aftermarket products and services.”
“Having known the Company and its management team for a number of years and witnessed its growth into a national distribution platform first-hand, we are looking forward to watching its next phase of growth as part of Driven Brands,” added Jonathan Carey, managing director and head of BB&T Capital Markets’ Automotive Aftermarket Group.
The terms of the transaction are undisclosed.
On June 5, 2015, Area Wide Protective (“AWP”), a portfolio company of Blue Point Capital Partners (“Blue Point”), was acquired by The Riverside Company (“Riverside”) in partnership with AWP management. BB&T Capital Markets served as the exclusive financial advisor to AWP.
On June 1, 2015, Quest Events, LLC (“Quest”), a portfolio company of PVB Capital LLC (“PVB”), Gemini Investors (“Gemini”), and Harbert Mezzanine Partners (“Harbert”), was acquired by Goldner Hawn Johnson & Morrison (“GHJ&M”) and Tonka Bay Equity Partners (“Tonka Bay”) in partnership with Quest management, led by CEO and Founder, Lee Dunlap. BB&T Capital Markets served as the exclusive financial advisor to Quest.
On June 1, 2015, Bridge Terminal Transport Services, Inc. (“BTT"), a portfolio company of Platinum Equity, was acquired by XPO Logistics, Inc. (“XPO") for $100 million. The addition of BTT nearly triples XPO’s drayage capacity to over 2,000 independent owner operators and significantly expands XPO’s drayage capacity on the East Coast. BB&T Capital Markets served as the exclusive financial advisor to BTT.
BB&T Capital Markets’ Food & Agribusiness Group advised Massimo Zanetti Beverage Group, a leading coffee producer and distributor, on its initial public offering in the second quarter of 2015. The institutional portion of the offering was worth €127,938,595.
The Company intends to use a portion of the net proceeds from the offering to repay existing indebtedness, with the remaining proceeds being distributed to the selling shareholders, the Zanetti family. After the offering, the Zanetti family will continue to own an approximate 64% interest in the Company. The family has offered the underwriters an option to purchase an additional 1,200,000 shares in the 30 days following the offering to cover overallotments, if any.
BB&T Capital Markets’ Logistics & Transportation Group completed a transaction for a leading global airfreight provider in the second quarter of 2015, helping to raise $200 million for our client.
The Company intends to use the net proceeds of the offering primarily to refinance certain equipment notes, to fund the cost of the convertible note hedge transactions, for working capital and capital expenditures, repayment or refinancing of debt, and for general corporate purposes. The Company has granted the underwriters a 13-day option to purchase an additional $30 million aggregate principal amount of notes from the company, solely to cover over-allotments.
On May 14, 2015, TPC Wire & Cable Corp. (“TPC”), a portfolio company of Pfingsten Partners (“Pfingsten”), was acquired by Audax Private Equity in partnership with TPC management. BB&T Capital Markets served as advisor to TPC.
BB&T Capital Markets Energy Group completed a transaction for a natural gas midstream MLP in the second quarter of 2015, in an equity offering worth $199,875,000.
The Partnership intends to use the net proceeds from the offering to fund the acquisition of Polar Midstream, LLC and Epping Transmission Company, LLC, as well as general partnership purposes. In connection with the offering, Summit Midstream Partners has granted the underwriters a 30-day option to purchase up to 975,000 additional common units.
On May 7, 2015, BB&T Capital Markets served as the sole lead manager for a $121,955,000 issue of equipment receivables-backed notes by North Mill Equipment Finance, LLC, through NMEF Funding 2015-A, LLC, in two tranches, rated “A (sf)” and “BBB (sf)” by Kroll Bond Rating Agency.
On May 4, 2015, BB&T Capital Markets served as a co-manager for a $300 million offering of 2.50% senior unsecured notes due in 2020 by Ryder System, Inc. Proceeds from the offering were used for general corporate purposes.
BB&T Capital Markets’ Logistics & Transportation Group completed a transaction for a leading U.S. logistics services provider in the second quarter of 2015, helping to raise $145 million for our client.
The Company intends to use the net proceeds from this offering along with a concurrent convertible notes offering to finance the acquisition of Command Transportation, LLC. The Company has granted the underwriters a 30-day option to purchase an additional 750,000 shares at the public offering price to cover over-allotments, if any.
BB&T Capital Markets’ Financial Services Group completed a transaction for a Business Development Company (“BDC”) in the second quarter of 2015, helping to raise $64,120,000 in gross proceeds for our client.
The Company intends to use the net proceeds from this offering for new investments in portfolio companies in accordance with the Company's investment objective and strategies, and for working capital purposes.
On April 23, 2015, BB&T Capital Markets served as a senior co-manager for a $2 billion offering of 3.90% medium-term notes due in 2045 by Wells Fargo & Company. Proceeds from the offering were used for general corporate purposes.
On April 20, 2015, BB&T Capital Markets served as a co-manager for a $2 billion offering of 5.95% fixed-to-floating rate non-cumulative preferred stock by Citigroup. Proceeds from the offering were used for general corporate purposes.