Milan Supply Chain Solutions

BB&T Capital Markets served as Financial Advisor to Milan Supply Chain Solutions in its sale to Wellspring Capital Management, in partnership with Ascend Transport Group

Transaction summary

On September 30, 2019, Milan Supply Chain Solutions (“Milan” or the "Company"), a portfolio company of HCI Equity Partners (“HCI”), was acquired by Wellspring Capital Management (“Wellspring”) in partnership with Ascend Transport Group ("Ascend"). BB&T Capital Markets served as financial advisor to Milan and its shareholders.

About the company

Milan Supply Chain Solutions

Founded in 1969 and headquartered in Milan, Tennessee, Milan is one of the nation’s leading providers of dedicated contract transportation and logistics solutions to Fortune 500 companies, with particular density in the Southeast, Midwest and Mid-Atlantic regions. The organization, with a fleet of over 600 trucks and over 1,700 trailers, is committed to delivering reliable services to customers across more than 20 states. Milan prides itself on its industry leading on-time delivery standards as well as its comprehensive suite of distribution and warehousing services.

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HCI Equity Partners

HCI Equity Partners is a private equity firm which invests in growth oriented industrial product and service companies. The firm partners with owners and managers of industrial companies, with a focus on assisting with operational improvements and supporting growth initiatives. HCI focuses on building solid relationships with proven management teams and supporting them in the execution of their strategies. 

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Wellspring Capital Management

Wellspring Capital Management is a leading private equity firm headquartered in New York. Since its founding in 1995, Wellspring has raised over $4 billion of initial capital commitments through six private equity funds, has invested in over 35 platform investments, and has completed over 60 add-on acquisitions across various segments of the U.S. and global economies. Wellspring's objective is to bring partnership, experience and value creation to each investment.  

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Ascend Transport Group

Ascend Transport Group is a group of executives with over 150 years of combined experience from Amazon, FedEx, Target and UPS. Ascend has partnered with private equity with experienced in Mega Cap transactions and knowledgeable about the transportation space. Ascend is consolidating Truckload and Brokerage businesses to provide alternatives that balance current market dynamics. Its solutions will leverage technology to increase network density and coverage driving efficiencies, lowering costs and improving service. 

Learn moreabout Ascend Transport Group (opens in a new tab)

Logistics & Transportation

Our Logistics & Transportation Team provides comprehensive investment banking services across eight industry segments and is one of the most active advisors in the middle-market.

Since 2010, our Logistics & Transportation Team has closed more than 40 sell-side M&A transactions and 60 public debt and equity offerings.

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BB&T Capital Markets is a division of BB&T Securities, LLC, member FINRA(opens in a new tab) / SIPC(opens in a new tab), and a wholly owned nonbank subsidiary of Truist Financial Corporation. Securities or insurance products and annuities sold, offered or recommended are not a deposit, not FDIC insured, not guaranteed by a bank, not guaranteed by any federal government agency and may go down in value. Read all disclosures

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