Headhaul Capital Partners and Argosy Investment Partners have acquired Great Western Leasing and Sales.
Great Western Leasing (GWL) is a full-service provider of sales, financing, leasing and rental options for new and used flatbed and specialized trailers, as well as after-market trailer repair and maintenance. The company distributes trailers for a range of manufacturers including Fontaine Trailer Company, Wilson Trailer Company, East Manufacturing Corporation, Manac Trailers USA, XL Specialized Trailers and Side Dump Industries. GWL is led by Sean Norton, its founder and Chief Executive Officer. The company is based in Irvine, CA (www.greatwesternleasing.com).
The senior management team of GWL co-invested in the transaction with Headhaul and Argosy. “The management team is excited to be working with Headhaul and Argosy to accelerate the growth of our business,” said Mr. Norton. “We will continue to stay focused on offering differentiated trailer sales, financing, and repair and maintenance services to meet the varied equipment needs of our customers.”
Headhaul Capital Partners invests in management buyouts, industry consolidations and recapitalizations of middle market businesses with annual revenues of $500 million or less that are active in the transportation, logistics and distribution industries. The firm is headquartered near White Plains in Harrison, NY (www.headhaulcapital.com).
“We are looking forward to working with the management team to enhance and expand GWL’s operations,” said Seth Wilson, Headhaul Capital’s Managing Partner. “We continue to be impressed by the company’s depth of knowledge and experience, as well as its strong focus on customer service.”
“GWL has a rich history dating back to 1971. We are excited to partner with both Headhaul Capital, given their deep experience in the transportation industry, and the management team to write the next chapter in the development of GWL,” said Keven Shanahan, a Partner at Argosy Investment Partners.
Argosy invests from $5 million to $15 million in lower middle market companies that have revenues of $10 million to $100 million and EBITDA margins of 10% or greater. Sectors of interest include manufacturing, business services, and value-added distribution. The firm was founded in 1990 and is headquartered in the Philadelphia suburb of Wayne, PA (www.argosycapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-13-15
