M&A Deal Summary

Celadon Group Acquires A&S Services Group

On October 27, 2014, Celadon Group acquired transportation company A&S Services Group from Larsen MacColl Partners for 55M USD

Acquisition Highlights
  • This is Celadon Group’s 5th transaction in the Transportation sector.
  • This is Celadon Group’s largest (disclosed) transaction.
  • This is Celadon Group’s 5th transaction in the United States.
  • This is Celadon Group’s 1st transaction in Pennsylvania.
Investment Fate
  • A&S Services Group was divested to a consortium of strategic buyers in 2019.

M&A Deal Summary
Date 2014-10-27
Target A&S Services Group
Sector Transportation
Buyer(s) Celadon Group
Sellers(s) Larsen MacColl Partners
Deal Type Add-on Acquisition
Deal Value 55M USD
Advisor(s) BB&T Capital Markets (Financial)

Target

A&S Services Group

New Freedom, Pennsylvania, United States
A&S Services Group, LLC is a provider of transportation, warehousing, distribution and logistics solutions focused on high quality, best in class customer service in the Northeast and Mid-Atlantic region, with an additional presence in the Southeast and Midwest. Over the years, A&S has grown organically and through acquisitions, including the Diamond Group, Inc., Den-El Transfer and Kinard Trucking.

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Buyer(S) 1

Buyer

Celadon Group

Indianapolis, Indiana, United States
Category Company
Founded 1985
Sector Transportation
Employees5,979
Revenue 1.1B USD (2016)
DESCRIPTION
Celadon's corporate headquarters in Indianapolis, Indiana.
Celadon's corporate headquarters in Indianapolis, Indiana.

Celadon Group is a provider of long-haul and regional full-truckload freight services across the United States, Canada and Mexico. Celadon Group was incorporated in 1985 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 5 of 7
Sector (Transportation) 5 of 7
Type (Add-on Acquisition) 5 of 6
State (Pennsylvania) 1 of 1
Country (United States) 5 of 7
Year (2014) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-30 Evans Equipment Company

Butler, Indiana, United States

Evans Equipment Inc. is a trucking company, provides logistics and transportation services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-26 Taylor Express

Hope Mills, North Carolina, United States

Taylor Express, Inc. provider of regional transportation services focused on high quality, best in class customer service in the South and Southeast region, with expertise in the transport of both dry van and bulk truckload services.

Buy $43M

Seller(S) 1

SELLER

Larsen MacColl Partners

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Larsen MacColl Partners is a private equity firm focused on investing in established, profitable companies with proven management and strong growth potential. The Firm targets companies generating $5 to $50 million in annual sales and cash-flow of $1 to $5 million. Larsen MacColl looks for companies operating in basic industries. Larsen MacColl was formed in 2004 and is based in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 3 of 5
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Pennsylvania) 2 of 3
Country (United States) 3 of 5
Year (2014) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-01 Bills Khakis

Reading, Pennsylvania, United States

Bills Khakis is a premium designer and marketer of high-quality men’s apparel.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 City Tap House

Philadelphia, Pennsylvania, United States

City Tap House is a craft beer and restaurant concept serving high-quality food and a best-in-class beer selection in a casually upscale setting. City Tap House currently operates eight restaurants - two in Philadelphia, two in Washington, D.C., and one each in Boston, Nashville, Atlanta, and Chicago - and will open an additional location in Loudon, Virginia later this year. City Tap House was founded in 2010 and is based in Philadelphia, Pennsylvania.

Buy -
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