M&A Deal Summary

Fenway Partners Acquires Fastfrate Group

On November 19, 2007, private equity firm Fenway Partners acquired transportation company Fastfrate Group

Acquisition Highlights
  • This is Fenway Partners’ 6th transaction in the Transportation sector.
  • This is Fenway Partners’ 2nd transaction in Canada.
  • This is Fenway Partners’ 2nd transaction in Ontario.
Investment Fate
  • Fastfrate Group was sold to a consortium of financial buyers in 2013.

M&A Deal Summary
Date 2007-11-19
Target Fastfrate Group
Sector Transportation
Buyer(s) Fenway Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Ernst & Young Capital Advisors LLC (Financial)
Loopstra Nixon (Legal)

Target

Fastfrate Group

Woodbridge, Ontario, Canada
Fastfrate Group is a provider of diversified transportations services in with a national terminal infrastructure. The company has grown into a diversified transportation company with a menu of services including LTL and truckload from any point to any point within Canada and the Northeast and Midwest United States, national drayage and cartage, warehousing, transloading on both the east coast and the west coast, special operational direct ship programs for retailers, and third-party logistics. Fastfrate Group was founded in 1966 and is based in Woodbridge, Ontario.

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Buyer(S) 1

Buyer

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 16 of 20
Sector (Transportation) 6 of 7
Type (Buyout (LBO, MBO, MBI)) 7 of 8
State (Ontario) 2 of 2
Country (Canada) 2 of 2
Year (2007) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-04 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.

Buy $340M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-04 Refrigerated Holdings

Elizabeth, New Jersey, United States

Refrigerated Holdings, Inc. is a provider of a complete suite of temperature controlled transportation and distribution services to shippers and importers.

Buy -
Mergr

Product

Company

Legal