M&A Deal Summary

Pine Creek Partners and Harren Equity Partners Acquire The CrossGlobe Group

On September 8, 2008, private equity firms Pine Creek Partners and Harren Equity Partners acquired transportation company The CrossGlobe Group

Acquisition Highlights
  • This is Pine Creek Partners’ 2nd and Harren Equity Partners’ 1st transaction in the Transportation sector.
  • This is Pine Creek Partners’ 5th and Harren Equity Partners’ 15th transaction in the United States.
  • This is Pine Creek Partners’ 2nd and Harren Equity Partners’ 2nd transaction in Virginia.
Investment Fate
  • The CrossGlobe Group was sold to a publicly-traded strategic buyer in 2012 for 16M USD.

M&A Deal Summary

Date 2008-09-08
Target The CrossGlobe Group
Sector Transportation
Buyer(s) Pine Creek Partners
Harren Equity Partners
Deal Type Buyout (LBO, MBO, MBI)

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) 2

Buyer

Pine Creek Partners

Washington, District of Columbia, United States

Category Private Equity Firm
Founded 2004
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 was founded in 2004 and is based in Washington, DC.


DEAL STATS #
Overall 5 of 5
Sector: Transportation M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 4
State: Virginia M&A 2 of 2
Country: United States M&A 5 of 5
Year: 2008 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-18 Hilden America

South Boston, Virginia, United States

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

Buy -
FOLLOWING 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 -
Buyer

Harren Equity Partners

Charlottesville, Virginia, United States

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 16 of 31
Sector: Transportation M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 9 of 10
State: Virginia M&A 2 of 2
Country: United States M&A 15 of 30
Year: 2008 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-04 Chamberlin Edmonds & Associates

Atlanta, Georgia, United States

Chamberlin Edmonds & Associates is a provider of specialized eligibility determination services to hospitals throughout the U.S. CEA guides uninsured patients through complex application processes to secure government and community reimbursement for uncompensated medical care.

Buy -
FOLLOWING 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 -