BB&T Capital Markets Serves as Exclusive Financial Advisor to Pilot Freight Services in its Sale to ATL Partners
On October 26, 2016, Pilot Freight Services (“Pilot” or the “Company”) secured a controlling investment from ATL Partners, a leading aerospace, transportation, and logistics-focused private equity firm. BB&T Capital Markets served as the exclusive financial advisor to Pilot.
Richard Phillips, Chief Executive Officer of Pilot, noted, “Pilot took great care in selecting advisors for this transaction. BB&T brought industry expertise, a deep understanding of Pilot's value, and attention to detail. This transaction is due in large part to their extraordinary efforts.“
“We appreciate the opportunity to work with the Phillips Family on this important transaction,” said Hugh Rabb, Managing Director and Co-Head of the Logistics & Transportation Group at BB&T Capital Markets. “Rich and the management team have done an amazing job growing the Company and positioning it for long-term success, and we look forward to following Pilot’s continued development as the Company embarks on its new partnership with ATL Partners.”
“Under the Phillips family’s ownership, the Company has established itself as a premium service provider in the third-party logistics (“3PL”) sector, which continues to be a key focus for our group. We are pleased to have facilitated an excellent outcome for Pilot and its shareholders,” added Keith Prusek, Managing Director and Co-Head of the Logistics & Transportation Group at BB&T Capital Markets.
About the Companies
Pilot Freight Services, LLC is a full-service transportation and logistics provider with more than 75 locations throughout North America and Western Europe. The Company’s freight forwarding services encompass every mode of transportation, including air, ground, and ocean, serving all corners of the globe. Pilot’s logistics programs offer a complete line of expedited and time-definite services, international shipping solutions, e-commerce and home delivery solutions, product warehousing, and inventory management. In addition, Pilot’s online shipment navigator, CoPilot, makes online shipping fast, convenient, and secure. Learn more about Pilot Freight Services at www.pilotdelivers.com.
The Aerospace, Transportation and Logistics Fund (“ATL Partners”) was formed in 2014 to make private equity and certain preferred securities or debt investments in the aerospace, transportation, and logistics sectors principally in North America with a target equity investment range of $150 million to $750 million through a co-investment arrangement with a major limited partner. ATL investment professionals and the members of its executive board, all of whom are accomplished senior executives in ATL's focus sectors, have been investing in these sectors for over 290 years and are well positioned to partner with management teams to drive value creation by identifying and implementing innovative growth initiatives. For more information about ATL Partners, visit www.atlpartners.com.
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.