BB&T Capital Markets Serves as Exclusive Financial Advisor to AFN in its Sale to GlobalTranz
On October 16, 2018, AFN, LLC (“AFN Logistics” or “AFN”), an award-winning leader in freight brokerage, 3PL logistics, and transportation management services, was acquired by GlobalTranz Enterprises, Inc. (“GlobalTranz”), a portfolio company of The Jordan Company (“TJC”). BB&T Capital Markets served as the exclusive financial advisor to AFN.
About the Companies
AFN is an award-winning leader in freight brokerage, third-party logistics, and transportation management services that has served the needs of major manufacturers, top-20 retailers, and best-in-class carriers in North America since 2003. Known for its commitment to client service, AFN has a robust suite of people-first, technology-enabled solutions — from truckload, LTL, managed transportation and consolidation services to risk management, carrier compliance, cargo security and surveillance, and more.
GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S.
TJC, founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 35-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation and Logistics, Healthcare and Consumer, and Telecom, Technology and Utility. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, New York, TJC also has an office in Chicago, Illinois.
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.