M&A Deal Summary

Riveria Investment Group, Panton Equity Partners and Mosaic Investments Acquire XGS

On April 13, 2015, private equity firms Riveria Investment Group, Panton Equity Partners and Mosaic Investments acquired transportation company XGS from U.S. Xpress

Acquisition Highlights
  • This is Riveria Investment Group’s 1st, Panton Equity Partners’ 1st and Mosaic Investments’ 1st transaction in the Transportation sector.
  • This is Riveria Investment Group’s 10th, Panton Equity Partners’ 4th and Mosaic Investments’ 1st transaction in the United States.
  • This is Riveria Investment Group’s 1st, Panton Equity Partners’ 1st and Mosaic Investments’ 1st transaction in Tennessee.
Investment Fate
  • XGS was sold to a consortium of financial buyers in 2018.

M&A Deal Summary

Date 2015-04-13
Target XGS
Sector Transportation
Buyer(s) Riveria Investment Group
Panton Equity Partners
Mosaic Investments
Sellers(s) U.S. Xpress
Deal Type Divestiture

Target

XGS

Chattanooga, Tennessee, United States
XGS is a provider of transportation and logistics services for the floor covering industry. XGS was founded in 1986 and is based in Chattanooga, Tennessee.

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Buyer(S) 3

Buyer

Riveria Investment Group

New York, New York, United States

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Riveria Investment Group is a private equity firm focused primarily on profitable, small to mid-sized, expansion-stage companies. The Firm targets situations where additional capital can accelerate growth. Riveria looks for transactions valued from $20 to $200 million and EBITDA of $2 to $25 million. Areas of interest include consumer products, retail, manufacturing, industrial, media/entertainment, and healthcare. In addition to growth equity transactions, Riveria will also consider management buyouts, recapitalizations, purchases of family-owned companies, corporate divestitures, and take-privates. Riveria is based in New York City.


DEAL STATS #
Overall 10 of 18
Sector: Transportation M&A 1 of 1
Type: Divestiture M&A Deals 2 of 2
State: Tennessee M&A 1 of 1
Country: United States M&A 10 of 16
Year: 2015 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-05 Alpine Waste & Recycling

Commerce City, Colorado, United States

Alpine Waste & Recycling is a privately held commercial waste, recycling and compost collection company in Colorado. The company is entirely vertically integrated with a fleet of almost 100 collection vehicles, a recycling facility, compost processing plant, and the only privately held landfill in Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-06 TLK Group

Bethesda, Maryland, United States

TLK Group is a full service contact management center specializing in the cable telecommunications industry. The Company combines state-of-the-art predictive dialer technology with intensive employee training, and has been able to produce industry-leading results for cable operators and systems throughout the United States. TLK Group utilizes the latest technology to monitor and record all sales activity and to provide customers with detailed campaign results. The Company maintains a high supervisor-to-representative ratio in order to achieve the highest quality results for clients. The company is headquartered in Bethesda, MD with additional offices in Virginia and Arizona.

Sell -
DESCRIPTION

Panton Equity Partners is a private equity firm focused on acquiring lower middle-market companies with up to $200 million of revenue. Panton looks to invest in service companies, including financial services, infrastructure services, and transportation/logistics with minimal capital expenditure requirements and highly scalable platforms. Panton Equity Partners was established in 2012 and is headquartered in Atlanta, Georgia.


DEAL STATS #
Overall 4 of 4
Sector: Transportation M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Tennessee M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-21 Ameritech Facility Services

Ballground, Georgia, United States

Ameritech Facility Services provides facility upgrades, capital improvements, and national rollout services for food service, hospitality, and retail industries. Ameritech Facility Services was founded in 1999 and is based in Ballground, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-07 Commonground/MGS

New York, New York, United States

Commonground/MGS is an independent multicultural advertising and communications agency in the United States. Commonground/MGS was founded in 2004 and is based in New York, New York.

Sell -
DESCRIPTION

Mosaic Investments is a private investment firm focused on acquiring and investing in operating companies and real estate. The Firm's investment group focused on companies pursues profitable ($2 to $10 million of EBITDA) with at least $10 million of revenue. Sectors of interest include franchising, facilities services, manufacturing, consumer, retail, clean energy, and transportation. Mosaic Investments was formed in 2010 and is headquartered in Atlanta, Georgia.


DEAL STATS #
Overall 1 of 1
Sector: Transportation M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Tennessee M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2015 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-21 XGS

Chattanooga, Tennessee, United States

XGS is a provider of transportation and logistics services for the floor covering industry. XGS was founded in 1986 and is based in Chattanooga, Tennessee.

Sell -

Seller(S) 1

SELLER

U.S. Xpress

Chattanooga, Tennessee, United States

Category Company
Founded 1985
Sector Transportation
Employees9,397
Revenue 2.2B USD (2022)
DESCRIPTION

U.S. Xpress provides truckload carrier services in North America offers solo truckload, long haul and expedited load, demand critical, and intermodal transportation services; and logistics, brokerage, and specialized LTL services. U.S. Xpress was founded in 1985 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 2 of 2
Sector: Transportation M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
State: Tennessee M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 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.

Sell -