M&A Deal Summary

Goldman Sachs Merchant Banking and Rhône Group Acquire Neovia Logistics

On October 15, 2014, private equity firms Goldman Sachs Merchant Banking and Rhône Group acquired transportation company Neovia Logistics from Platinum Equity

Acquisition Highlights
  • This is Goldman Sachs Merchant Banking’s 3rd and Rhône Group’s 2nd transaction in the Transportation sector.
  • This is Goldman Sachs Merchant Banking’s 75th and Rhône Group’s 7th transaction in the United States.
  • This is Goldman Sachs Merchant Banking’s 8th and Rhône Group’s 2nd transaction in Texas.

M&A Deal Summary

Date 2014-10-15
Target Neovia Logistics
Sector Transportation
Buyer(s) Goldman Sachs Merchant Banking
Rhône Group
Sellers(s) Platinum Equity
Deal Type Secondary Buyout

Target

Neovia Logistics

Irving, Texas, United States
Neovia Logistics is a provider of integrated logistics services, including service parts logistics, warehousing, business support services, order and inventory management, and other value-added services. Neovia Logistics was founded in 1987 and is based in Irving, Texas.

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Buyer(S) 2

Buyer

Goldman Sachs Merchant Banking

New York, New York, United States

Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 103 of 182
Sector (Transportation) 3 of 3
Type (Secondary Buyout) 34 of 66
State (Texas) 8 of 10
Country (United States) 75 of 126
Year (2014) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-16 SPARTA Insurance Holdings

Hartford, Connecticut, United States

SPARTA Insurance Holdings, Inc. provides property and casualty insurance for specialty and alternative risk programs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-12 Neusoft Medical

Shenyang, China

Neusoft Medical manufactures medical equipment, and provides medical IT solutions and healthcare services. Neusoft Medical was founded in 1998 and is based in Shenyang, China.

Buy -
Buyer

Rhône Group

New York, New York, United States

Category Private Equity Firm
Founded 1996
PE ASSETS 8.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Rhône Group is a private equity and financial advisory firm focused on large-scale buyouts across North America and Western Europe. Areas of interest include energy, materials, industrials, retail, consumer products, healthcare, and financial services. Rhône was formed in 1995 and has offices in New York, Paris, and London.


DEAL STATS #
Overall 17 of 30
Sector (Transportation) 2 of 3
Type (Secondary Buyout) 4 of 9
State (Texas) 2 of 5
Country (United States) 7 of 14
Year (2014) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-29 Rexair

Troy, Michigan, United States

Rexair is a direct seller and manufacturer of premium vacuum cleaning systems for residential customers. The company’s principal product, the Rainbow® vacuum cleaner, is the world’s premier home cleaning system and is sold in countries around the globe through a broad network of third-party distributors. Rexair was formed in 1936 and is based in Troy, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-10 Global Knowledge

Cary, North Carolina, United States

Global Knowledge is a world leader in technical skills training, supporting major enterprises and IT professionals with innovative and flexible learning solutions and offering authorized content from major technology providers. Global Knowledge delivers training in multiple modalities, both on-demand and instructor-led through virtual delivery and classrooms, blended formats, and customized on-site training, directly and through a worldwide partner network. Global Knowledge was founded in 1995 and is based in Cary, North Carolina.

Buy -

Seller(S) 1

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.


DEAL STATS #
Overall 35 of 78
Sector (Transportation) 2 of 6
Type (Secondary Buyout) 9 of 21
State (Texas) 2 of 3
Country (United States) 28 of 65
Year (2014) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-08 MegaPath

Costa Mesa, California, United States

MegaPath provides fully managed IP-based Virtual Private Network connectivity solutions over both the public Internet and its private network. MegaPath was formed in 1996 and is based in Costa Mesa, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-29 Grupo Terratest

Madrid, Spain

Grupo Terratest is a specialized international contractor providing foundation work, ground improvement, and micro-tunneling services for large-scale infrastructure projects and industrial, commercial and residential construction. Grupo Terratest was founded in 1959 and is based in Madrid, Spain.

Buy -