M&A Deal Summary

Pride Group Logistics Acquires Arnold Transportation

On February 1, 2022, Pride Group Logistics acquired transportation company Arnold Transportation from Tenex Capital Management

Acquisition Highlights
  • This is Pride Group Logistics’ 1st transaction in the Transportation sector.
  • This is Pride Group Logistics’ 1st transaction in the United States.
  • This is Pride Group Logistics’ 1st transaction in Florida.

M&A Deal Summary
Date 2022-02-01
Target Arnold Transportation
Sector Transportation
Buyer(s) Pride Group Logistics
Sellers(s) Tenex Capital Management
Deal Type Add-on Acquisition

Target

Arnold Transportation

Jacksonville, Florida, United States
Arnold Transportation is an irregular route and dedicated truck-load motor carrier, specializing in short-haul regional operations. Arnold provides services in the Northeastern, Southeastern and Southwestern regions of the United States.

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Buyer(S) 1

Buyer

Pride Group Logistics

Mississauga, Ontario, Canada
Category Company
Sector Transportation
DESCRIPTION

Pride Group Logistics is a North American truckload carrier. Pride's background as a semi-truck retailer continues and is interwoven into its trucking operation. Pride's unique approach gives it an advantage over other carriers with an extensive fleet comprised of only brand new equipment. That translates to less maintenance costs, virtually no downtime and excellent on-time performance for its truckload clientele.

DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1

Seller(S) 1

SELLER

Tenex Capital Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tenex Capital Management is a private investment group focused on acquiring control positions in profitable North American companies with $3 to $40 million of EBITDA. The Firm does not have any sector preferences and looks to commit up to $125 million per transaction. Tenex Capital Management was formed in 1999 and is based in New York City.

DEAL STATS #
Overall 19 of 24
Sector (Transportation) 2 of 2
Type (Add-on Acquisition) 4 of 5
State (Florida) 3 of 4
Country (United States) 19 of 24
Year (2022) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 GreenFiber

Charlotte, North Carolina, United States

GreenFiber manufactures natural fiber insulation, fire, and sound products. GreenFiber offers insulation, sidewall nozzle, sidewall insulation plugs, insulation blowing machines, coverage charts, installation guides, banners, cocoon insulation, and fire protection and sound-isolating products. GreenFiber was founded in 2000 and is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-09 Auveco

Cold Spring, Kentucky, United States

Auveco is a distributor of fasteners to the automotive body hardware aftermarket and general industrial maintenance, repair, and operations space. The Company sells to thousands of wholesale distribution customers who subsequently service hundreds of thousands of collision centers, repair shops, and dealerships located throughout North America. Auveco was founded in 1936 and is based in Cold Spring, Kentucky.

Sell -
Mergr

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