M&A Deal Summary

Logistec Acquires The CrossGlobe Group

On August 9, 2012, Logistec acquired transportation company The CrossGlobe Group from Pine Creek Partners and Harren Equity Partners for 16M USD

Acquisition Highlights
  • This is Logistec’s 1st transaction in the Transportation sector.
  • This is Logistec’s 3rd largest (disclosed) transaction.
  • This is Logistec’s 1st transaction in the United States.
  • This is Logistec’s 1st transaction in Virginia.

M&A Deal Summary
Date 2012-08-09
Target The CrossGlobe Group
Sector Transportation
Buyer(s) Logistec
Sellers(s) Pine Creek Partners
Harren Equity Partners
Deal Type Add-on Acquisition
Deal Value 16M USD

Target

The CrossGlobe Group

Glen Allen, Virginia, United States
The CrossGlobe Group is a multi-port logistics platform build providing warehousing, transloading and value added services.

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Buyer(S) 1

Buyer

Logistec

Montreal, Quebec, Canada
Category Company
Founded 1952
Sector Transportation
Revenue 898M CAD (2022)
DESCRIPTION

Logistec is a provider of a marine and environmental services. It offers marine transportation services geared primarily to the Arctic coastal trade, short-line rail transportation services, as well as marine agency services to foreign shipowners and operators serving the Canadian market. Logistec was founded in 1952 and is based in Montreal, Canada.

DEAL STATS #
Overall 1 of 5
Sector (Transportation) 1 of 3
Type (Add-on Acquisition) 1 of 5
State (Virginia) 1 of 1
Country (United States) 1 of 4
Year (2012) 1 of 1
Size (of disclosed) 3 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-06 FER-PAL Construction

Toronto, Ontario, Canada

FER-PAL Construction Ltd. is a trenchless technology company that offers complete water main rehabilitation solutions. FER-PAL Construction Ltd. was founded in 1986 and is based in Toronto, Ontario.

Buy $50M

Seller(S) 2

SELLER

Pine Creek Partners

Washington, District of Columbia, United States

Investor

Category Private Equity Firm
PE ASSETS 53M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Pine Creek Partners is a private equity firm focused on smaller company investments in financial services, select consumer products, travel and leisure, educational products and services, and federal government contractors. Pine Creek looks to invest $3 to $7 million in companies with at least $5 million in annual revenues. The Firm will consider both minority and majority investment situations. Transaction types include leveraged buyouts, management buyouts, recapitalizations, shareholder repurchases, consolidations, growth financings, acquisition financings, and balance sheet restructurings. Pine Creek Partners is based in Washinton, DC.

DEAL STATS #
Overall 2 of 4
Sector (Transportation) 1 of 2
Type (Add-on Acquisition) 2 of 2
State (Virginia) 2 of 2
Country (United States) 2 of 4
Year (2012) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-19 Hilden America

South Boston, Virginia, United States

Hilden American is a designer, importer, and distributor of branded textile products for the hospitality end market.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-27 Drew Foam

Monticello, Arkansas, United States

Drew Foam is a provider of custom-fabricated expanded polystyrene foam ("EPS") products serving the packaging, building products, and consumer end-markets, primarily in the Southeastern United States. Drew Foam was founded in 1965 and is based in Monticello, Arkansas.

Sell -
SELLER

Harren Equity Partners

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 450M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harren Equity Partners LLC is an East Coast US-based private equity firm focused on mid-sized acquisitions, recapitalizations and growth capital financings. Harren is a generalist firm and will consider companies in a broad range of industries, including aerospace/defense, automotive, business services, building materials, energy services, furniture, industrial machinery, medical products, natural resources, healthcare services, restaurants, retail, and recycling. Prospective companies typically have sales of $30 to $300 million, EBITDA of $7 to $30 million, and are located in North America. Harren prefers businesses with defensible markets positions, proven management, and strong growth potential. Harren Equity Partners LLC was formed in 2000 and is based in Charlottesville, Virginia.

DEAL STATS #
Overall 13 of 23
Sector (Transportation) 1 of 3
Type (Add-on Acquisition) 6 of 10
State (Virginia) 4 of 5
Country (United States) 13 of 23
Year (2012) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-12 Med-Legal

Covina, California, United States

Med-Legal provides technology‐enabled record retrieval and review services, primarily serving attorneys, physicians, and insurance carriers in the workers’ compensation and personal injury markets. Med-Legal was founded in 1986 and is based in Covina, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-27 Drew Foam

Monticello, Arkansas, United States

Drew Foam is a provider of custom-fabricated expanded polystyrene foam ("EPS") products serving the packaging, building products, and consumer end-markets, primarily in the Southeastern United States. Drew Foam was founded in 1965 and is based in Monticello, Arkansas.

Sell -
Mergr

Product

Company

Legal