M&A Deal Summary

Peninsula Capital Partners Acquires Cox Transportation Services

On March 27, 2017, mezzanine finance firm Peninsula Capital Partners acquired transportation company Cox Transportation Services from Tecum Capital

Acquisition Highlights
  • This is Peninsula Capital Partners’ 5th transaction in the Transportation sector.
  • This is Peninsula Capital Partners’ 101st transaction in the United States.
  • This is Peninsula Capital Partners’ 2nd transaction in Virginia.
Investment Fate
  • Cox Transportation Services was recapitalized in 2020.

M&A Deal Summary

Date 2017-03-27
Target Cox Transportation Services
Sector Transportation
Buyer(s) Peninsula Capital Partners
Sellers(s) Tecum Capital
Deal Type Recapitalization
Advisor(s) Marriott & Co. (Financial)

Target

Cox Transportation Services

Ashland, Virginia, United States
Cox Transportation Services provides freight hauling and brokerage services to customers in a diversified group of industries across the U.S. Cox Transportation Services specializes in transporting time-sensitive full truckload freight on a local, regional and national basis. Cox also operates a brokerage division that serves carriers and freight customers with logistics optimization services. Cox Transportation Services was founded in 1982 and is based in Ashland, Virginia.

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Buyer(S) 1

Buyer

Peninsula Capital Partners

Southfield, Michigan, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Peninsula Capital Partners is an investment group focused on providing a range of financing solutions to middle-market companies. The Firm is willing to be a minority or control investor and invests across the capital structure. This includes subordinated debt, preferred or common stock. For mezzanine commitments, Peninsula looks to invest $5 to $40 million. For equity transactions, Peninsula looks to invest $2 to $20 million. Peninsula is a generalist investor. Target sectors include manufacturing, industrial service, distribution, consumer products, professional services, retail, applied technology, transportation, food processing and packaging. Peninsula Capital Partners was formed in 1995 and is based in Detroit, Michigan.


DEAL STATS #
Overall 106 of 132
Sector: Transportation M&A 5 of 6
Type: Recapitalization M&A Deals 21 of 33
State: Virginia M&A 2 of 2
Country: United States M&A 101 of 124
Year: 2017 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 Allivet

Miami Lakes, Florida, United States

Allivet is an online retailer of pet pharma (prescription and non-prescription) and other health products, processing tens of thousands of orders annually in all 50 states and internationally. Allivet was established in 1992 and is based in Miami Lakes, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-06 EnviroForensics

Indianapolis, Indiana, United States

EnviroForensics is an operator of environmental engineering, consulting and remediation design firm focused on resolving environmental problems, involving political, technical, regulatory, legal, and financial issues, with business-oriented strategies for property owners, businesses, and municipalities. EnviroForensics was founded in 1996 and is based in Indianapolis, Indiana.

Buy -

Seller(S) 1

SELLER

Tecum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tecum Capital is a private equity firm focused on lower middle-market companies across the Eastern-US. Tecum will consider a variety of investment situations including leveraged buyouts, management buyouts, successions, strategic acquisitions, growth capital financings, and recapitalizations. Investment sizes range from $5 - $20 million. Industries of interest include manufacturing, plastics, specialty distribution, technology, healthcare services, defense, food, and business/consumer services. Tecum will not consider investments in start-ups or real estate. Tecum Capital was formed in 2005 and is based in Wexford, Pennsylvania.


DEAL STATS #
Overall 8 of 25
Sector: Transportation M&A 1 of 1
Type: Recapitalization M&A Deals 1 of 3
State: Virginia M&A 1 of 2
Country: United States M&A 8 of 25
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-22 Hometown Hospice & Homecare

Brookfield, Wisconsin, United States

Hometown Hospice & Homecare, Inc. provides both hospice and homecare services in the greater Milwaukee, Wisconsin area. The Company is certified by both Medicare and Medicaid. Hometown provides routine hospice services in homes, assisted living facilities, and skilled nursing facilities. In addition to routine services, the Company offers a Life Enhancement Program that utilizes a holistic approach to patient care by incorporating lifelong interests into the hospice plan of care. From a home care perspective, Hometown provides skilled nursing, physical therapy, occupational therapy, speech therapy, and home health aides all tailored to meet the specifics of each patient’s plan of care as prescribed by their doctor. Hometown was formed in 2013 and is headquartered in Brookfield, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-08 Marwin

West Columbia, South Carolina, United States

Marwin is a manufacturer of attic stairways, pocket door frames, and other specialty building products, and has operated with an unrelenting focus on quality, innovation, and customer service. Marwin was founded in 1947 and is based in West Columbia, South Carolina.

Buy -