BB&T Capital Markets Serves as Exclusive Financial Advisor to Span Alaska Transportation in its Sale to Matson Logistics
On August 4, 2016, Span Alaska Transportation LLC (“Span Alaska” or the “Company”), a portfolio company of Evergreen Pacific Partners (“EPP”), was acquired by Matson Logistics. BB&T Capital Markets served as the exclusive financial advisor to Span Alaska and its shareholders.
About the Companies
Span Alaska is a market leading provider of Less-than-Container Load ("LCL") freight consolidation and forwarding services to Alaska. Founded in 1978, Span Alaska is an asset-light logistics business that aggregates customers' freight in Auburn, WA for consolidation and shipment to seven terminals in Alaska where the freight is deconsolidated before final delivery. As a complement to its core LCL services, Span Alaska provides trucking services which include drayage to and from the Port of Tacoma and delivery to customers' final destinations in Alaska.
EPP is a Private Equity firm based in Seattle, Washington. EPP currently manages two private equity funds totaling $700 million with a focus on investing in middle-market companies in the western portion of North America.
Based in Concord, California, Matson Logistics is a leading provider of integrated, asset-light logistics services in North America. Its service offering includes rail intermodal, highway brokerage, and warehousing. Matson Logistics is an operating subsidiary of Matson Transportation, a carrier based in the Pacific Northwest. Matson Transportation carries goods to Hawaii, Alaska, Guam, Micronesia, and select South Pacific Islands through its 22 vessels.
Logistics & Transportation Services
BB&T Capital Markets' Logistics & Transportation Group provides M&A, capital raising and corporate banking services to companies in the logistics and transportation industry, including third-party logistics providers (freight forwarding, contract warehousing, truck brokerage), trucking (truckload and LTL), marine transportation (inland barge and international shipping), railroads, transportation equipment and waste services. BB&T’s Logistics & Transportation Corporate Banking Team manages in excess of $2.1 billion of assets, comprised by more than 50 industry relationships. The team specializes in delivering corporate finance and equipment finance solutions to industry participants spread across all sectors of the transportation industry.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.