Lincoln International was the lead financial advisor to Lazer Spot, a portfolio company of Sterling Investment Partners, on its recent sale to Greenbriar Equity Group.
Lazer Spot’s services include trailer spotting (rapid and precise movement of empty and full trailers at its customers’ distribution centers and manufacturing facilities) and shuttling (on-demand movement of empty or full trailers between customers’ sites, distribution facilities, third party rail yards and shipping ports). Lazer Spot is the only national provider of spotting services with 260 sites that are used by more than 80 customers that operate in the consumer packaged goods, food & beverage, pulp & paper, retail, and industrial sectors. The company was founded in 1996 and is headquartered in Atlanta (www.lazerspot.com).
“Trucking companies bringing trailers into big distribution centers or manufacturing facilities want to drop and go,” said Adam Newsome, President and CEO of Lazer Spot. “They don’t want to sit and wait. We found a need in the market that wasn’t being met, and we provide that service on a national scale.”
During the sales transaction, Lincoln advised the management team and shareholders and managed the marketing, negotiation and due diligence phases of the transaction.
“Lincoln was the absolute right choice to advise us. Their unique insights and in-depth understanding of our business model allowed them to tell our story and value proposition in a highly compelling manner,” said Mr. Newsome.
Lincoln specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. The firm also provides fairness opinions, valuations and pension advisory services on a range of transaction sizes. Lincoln has sixteen offices in the Americas, Asia and Europe and is headquartered in Chicago (www.lincolninternational.com).
William Macey, Managing Partner and Co-Founder of Sterling, said “Lincoln’s focus and commitment was crucial to consummating the transaction with Greenbriar, who we believe will be an outstanding partner to continue Lazer Spot’s success.”
Greenbriar Equity Group invests from $50 million to $150 million per transaction in the global transportation industry, including companies in logistics and distribution, aerospace and air transport, automotive, industrial equipment and components, MRO, surface transport and other related sectors. The firm manages $2.5 billion of committed capital and is based in Rye, NY (www.greenbriarequity.com).
Sterling Partners, which acquired Laser Spot in September 2010, focuses on investing growth capital in small and mid-market companies in industries with positive, long-term trends, including education, healthcare, and business services. Sterling manages over $5 billion in institutional capital. The firm was founded in 1983 and has offices in Chicago, Baltimore, and Miami (www.sterlingpartners.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-19-15
