BB&T Capital Markets Serves as Exclusive Financial Advisor to MetroGistics in its Sale to Tailwind Capital
On September 30, 2016, MetroGistics, LLC (“MetroGistics” or the “Company”), a portfolio company of Corinthian Capital Group (“Corinthian”), was acquired by Tailwind Capital (“Tailwind”). BB&T Capital Markets served as the exclusive financial advisor to MetroGistics.
“MetroGistics is the leading non-asset based provider of automotive logistics services and possesses unparalleled technology in the industry. Co-founders Scott Naz and Bill Billiter have built a tremendous platform with substantial opportunities for growth,” said Hugh Rabb, Managing Director and Co-Head of the Logistics & Transportation Group at BB&T Capital Markets.
“MetroGistics represents another successful non-asset based third-party logistics (“3PL”) transaction for BB&T, and the 3PL space continues to be a direct focus for us,” added Karl Kirkeby, Senior Vice President in the Logistics & Transportation Group at BB&T Capital Markets.
About the Companies
MetroGistics is a technology-enabled provider of non-asset-based third-party logistics serving both OEM and remarketed automotive customers. Founded in 2010, MetroGistics provides flexible, responsive and technologically advanced automotive logistics services, across all aspects of the business, from load matching to delivery.
Corinthian Capital is a New York-based private investment firm with decades of experience investing in middle market businesses. Corinthian invests primarily in niche market leaders across the manufacturing, distribution, services, and consumer products sectors, primarily in businesses with sales between $50 million and $250 million in revenue.
Tailwind Capital is a leading middle market private equity firm focused on growth-oriented investments in targeted sectors within healthcare, business, and industrial services. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic improvements. Since inception, Tailwind has managed funds with $2 billion of committed equity capital, having invested in 34 portfolio companies and 52 add-on acquisitions.
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.