M&A Deal Summary

British Columbia Investment Management and Gamut Capital Management Acquire PS Logistics

On June 25, 2021, asset manager British Columbia Investment Management and private equity firm Gamut Capital Management acquired transportation company PS Logistics from One Equity Partners and WayPoint Capital Partners

Acquisition Highlights
  • This is British Columbia Investment Management’s 2nd and Gamut Capital Management’s 1st transaction in the Transportation sector.
  • This is British Columbia Investment Management’s 6th and Gamut Capital Management’s 4th transaction in the United States.
  • This is British Columbia Investment Management’s 1st and Gamut Capital Management’s 1st transaction in Alabama.

M&A Deal Summary

Date 2021-06-25
Target PS Logistics
Sector Transportation
Buyer(s) British Columbia Investment Management
Gamut Capital Management
Sellers(s) One Equity Partners
WayPoint Capital Partners
Deal Type Secondary Buyout
Advisor(s) UBS Investment Bank (Financial)
Kirkland & Ellis (Legal)

Target

PS Logistics

Birmingham, Alabama, United States
PS Logistics is a full-service logistics solution provider with over 2000 flatbed assets, vans, step decks/RGN's, brokerage division, transportation management and 3PL, and dedicated fleet operations. PS Logistics is based in Birmingham, Alabama.

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Buyer(S) 2

Buyer
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 15 of 19
Sector (Transportation) 2 of 2
Type (Secondary Buyout) 8 of 9
State (Alabama) 1 of 1
Country (United States) 6 of 7
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Pete and Gerry s Organics

Monroe, New Hampshire, United States

Pete and Gerry's Organics has been raising chickens for three generations and is totally committed to bringing consumers the highest-quality organic, free-range, and pasture-raised eggs possible via its quality brands, including Pete and Gerry’s Organic, Nellie’s Free Range, and Consider Pastures. Pete and Gerry's Organics is a values-led company dedicated to the humane treatment of animals and supporting small family farms that follow the strictest standards of humane animal treatment, safety, and environmental sustainability. Pete and Gerry's Organics was formed in 1950 and is based in Monroe, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-28 Springs Window Fashions

Montgomery, Pennsylvania, United States

Springs Window Fashions is a manufacturer and marketer of custom and stock window coverings and drapery hardware to retail and commercial customers, as well as independent designers, franchisors, and decorators. Springs Window Fashions was founded in 1939 and is based in Montgomery, Pennsylvania.

Sell -
Buyer

Gamut Capital Management


Category Private Equity Firm
Founded 2015
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Gamut Capital Management is a private equity group focused on investing $50 to $150 million in middle market US-based companies. Target sectors include agriculture, chemicals, telecom, industrials, mining, power, distribution, technology, energy and transportation. Gamut’s flexible investment strategy incorporates leveraged buy-outs, corporate carve-outs, strategic partnerships, and distressed-for-control situations. Gamut Capital Management was formed in 2015 and is based in New York City.


DEAL STATS #
Overall 5 of 9
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 3 of 5
State (Alabama) 1 of 1
Country (United States) 4 of 8
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-18 Grede

Southfield, Michigan, United States

Grede is a producer of engineered iron castings to the automotive, medium and heavy truck, and industrial markets. Grede supplies a broad variety of ductile, gray, and high silicon moly iron castings to a diverse customer base. The company’s products include safety-critical chassis, suspension, and drivetrain components for automotive applications, highly engineered engine and chassis components for heavy-duty truck engines, and large axle housings and other drive train components for heavy equipment and agriculture markets. Grede was founded in 1920 and is based in Southfield, Michigan.

Buy $245M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 Davis-Standard

Pawcatuck, Connecticut, United States

Davis-Standard designs develop and manufacture extrusion systems and process controls for the flexible web converting, plastics processing, and rubber industries. Davis-Standard manufactures extrusion equipment for the blown film, blow molding, cast film, extrusion coating and laminating, and other applications. Davis-Standard was founded in 1848 and is based in Pawcatuck, Connecticut.

Buy -

Seller(S) 2

SELLER

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $30 to $300 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. One Equity Partners is based in New York City.


DEAL STATS #
Overall 48 of 62
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 7 of 9
State (Alabama) 2 of 2
Country (United States) 33 of 41
Year (2021) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 BRUSH

Leicestershire, United Kingdom

BRUSH is an independent provider of equipment, services, and solutions for electrical power generation and distribution. BRUSH was founded in 1879 and is based in Leicestershire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-30 Grupo Phoenix

Bogotá , Colombia

Grupo Phoenix is a manufacturer of rigid packaging containers for the global food and beverage industry. Grupo Phoenix is based in Bogotá, Columbia.

Sell -
DESCRIPTION

WayPoint Capital Partners is a private investment firm focused on working in partnership with founders and management teams to build and grow companies. WayPoint does not have any sector preferences and looks to commit $10 to $30 million per transaction. WayPoint Capital Partners is based in New York City.


DEAL STATS #
Overall 3 of 4
Sector (Transportation) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Alabama) 1 of 1
Country (United States) 3 of 4
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-14 onehome

Miramar, Florida, United States

onehome provides meeting the needs of health plans by serving its members through a single-source solution. It manages patients’ complex and chronic needs from infusion care to nursing and durable medical equipment services at the home, promoting quality of life, improving health for patients, and reducing costs for the health plans. onehome was founded in 1998 and is based in Miramar, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 IDX

Portland, Oregon, United States

IDX is a provider of identity protection and data breach services for companies and individuals throughout the U.S. ID Experts combine consumer-centric software and concierge-style professional services in serving organizations across government, healthcare, commercial enterprises, financial institutions, and higher education. IDX was founded in 2003 and is based in Portland, Oregon.

Sell -