M&A Deal Summary

ArcBest Acquires Panther Expedited Services

On June 15, 2012, ArcBest acquired transportation company Panther Expedited Services from Fenway Partners and York Street Capital Partners for 180M USD

Acquisition Highlights
  • This is ArcBest’s 2nd transaction in the Transportation sector.
  • This is ArcBest’s largest (disclosed) transaction.
  • This is ArcBest’s 2nd transaction in the United States.
  • This is ArcBest’s 1st transaction in Ohio.

M&A Deal Summary

Date 2012-06-15
Target Panther Expedited Services
Sector Transportation
Buyer(s) ArcBest
Sellers(s) Fenway Partners
York Street Capital Partners
Deal Type Add-on Acquisition
Deal Value 180M USD

Target

Panther Expedited Services

Medina, Ohio, United States
Panther Expedited Services, Inc. provides transportation and logistics services in North America. The company focuses on logistics services, including ground and air freight services. It offers ground services, such as door-to-door expedited ground service, truckload service, LTL freight services, elite services, and mode optimization; ground and specialized handling services; air freight and air charter services; and value-added services, such as shipping of dangerous goods, hold-for-pick-up, liftgate services, customs clearance, cargo insurance, and documentation services.

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Buyer(S) 1

Buyer

ArcBest

Fort Smith, Arkansas, United States

Category Company
Founded 1923
Sector Transportation
Employees15,000
Revenue 4.4B USD (2023)
DESCRIPTION

ArcBest is a provider of logistics and transportation services. ArcBest was incorporated in 1923 and is based in Fort Smith, Arkansas.


DEAL STATS #
Overall 2 of 6
Sector (Transportation) 2 of 4
Type (Add-on Acquisition) 2 of 6
State (Ohio) 1 of 1
Country (United States) 2 of 6
Year (2012) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-15 Wheels Clipper

Woodridge, Illinois, United States

Wheels Clipper offers a full range of light-asset and non-asset based services and solutions that optimizes supply chains and improves business efficiency. Wheels Clipper offers one-stop integrated highway, rail, TL, LTL and warehousing services and access to over 2000 carriers and all Class 1 North American railroads.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-05 Smart Lines Transportation Group

Oklahoma City, Oklahoma, United States

Smart Lines Transportation Group LLC is a truckload brokerage firm.

Buy $5M

Seller(S) 2

SELLER

Fenway Partners

Westerly, Rhode Island, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Fenway Partners is a private equity firm focused on investments in the consumer products and transportation/logistics/distribution sectors. Fenway looks for profitable companies with positive cash-flow and 'strong franchises. Prospective companies are generally valued between $100 and $600 million with $15 to $75 million of EBITDA. The Firm's investment horizon is four to six years. Fenway Partners was formed in 1994 and maintains offices in New York City and Los Angeles.


DEAL STATS #
Overall 10 of 15
Sector (Transportation) 2 of 4
Type (Add-on Acquisition) 2 of 4
State (Ohio) 1 of 1
Country (United States) 10 of 14
Year (2012) 2 of 3
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-04 1-800 Contacts

Draper, Utah, United States

1-800 Contacts is a direct-to-consumer independent retailer of contact lenses. The Company also provides contact lens sourcing and fulfillment services to leading brick-and-mortar retailers. 1-800 Contacts was formed in 1995 and is based in Draper, Utah.

Sell $900M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-22 Coach America Group

Dallas, Texas, United States

Coach American Group, Inc. is a provider of motorcoach services in North America, operating through 17 regional divisions located in nine states in the Western and South Central regions of the United States. Services provided by the Company included motorcoach charters, tours and sightseeing, commuter transportation, airport shuttles and contract services for municipalities and corporations.

Sell -
SELLER

York Street Capital Partners

Bedminster, New Jersey, United States

Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 559M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

York Street Capital Partners is an investment firm focused on providing mezzanine and equity capital to private equity sponsors. York Street looks to fund acquisitions, buyouts, growth capital, and recapitalizations of middle-market companies. Target sectors include consumer products and services, business services, manufacturing and industrial, aerospace, retail, restaurants, healthcare, transportation and logistics, food, and agriculture. York Street Capital Partners was formed in 2002 and is based in Bedminster, New Jersey.


DEAL STATS #
Overall 10 of 17
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 5 of 7
State (Ohio) 1 of 1
Country (United States) 9 of 15
Year (2012) 1 of 1
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-05 i2

Oxfordshire, United Kingdom

i2 is a security intelligence analysis software that provides advanced analytics and intelligence analysis tools, such as the industry-leading i2 Analyst’s Notebook, which helps analysts transform data into decisions in near-real-time, uncover hidden connections with visual displays, and turn overwhelming and disparate data. i2 product portfolio including the i2 Analyst’s Notebook, i2 Enterprise Insight Analysis (EIA), and i2 iBase platforms. i2 was founded in 1990 and is based in Oxfordshire, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-09 Miller Heiman

Chicago, Illinois, United States

Miller Heiman is a sales performance training and consulting firm, serving clients in over 35 countries and working with some of the most respected companies in the world. Miller Heiman was formed in 1960 and is based in Chicago, Illinois.

Sell -