Buyout (LBO, MBO, MBI) • Transportation

Trive Capital and Bluejay Capital Acquire RPM

On May 31, 2024, private equity firm Trive Capital and merchant bank Bluejay Capital acquired transportation company RPM

Acquisition Context
  • This is Trive Capital’s 4th and Bluejay Capital’s 2nd transaction in the Transportation sector.
  • This is Trive Capital’s 51st and Bluejay Capital’s 4th transaction in the United States.
  • This is Trive Capital’s 4th and Bluejay Capital’s 1st transaction in Michigan.

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M&A Deal Summary

Date May 31, 2024
Target RPM
Sector Transportation
Buyer(s) Trive Capital
Bluejay Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Corporate Finance International (Financial)

Target Company

RPM

Birmingham, Michigan, United States
RPM is a logistics and transportation firm specialising in finished-vehicle shipping and speciality freight, including services for auto manufacturers, dealers, remarketing firms, and private individuals transporting vehicles. RPM was founded in 2011 and is based in Birmingham, Michigan.
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Buyers Overview 2

Buyer

Trive Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trive Capital is a hands-on, operationally-focused private equity firm that targets complex or special situations in 'out of favor' but protected market niches. The Firm will consider businesses throughout North America offering differentiated products/services with leading/defensible industry positions. Trive looks to commit $10 to $300 million per investment in businesses generating revenues of $40 million to $1.5 billion. Sectors of interest include automotive, transportation, aerospace/defense, building products, construction, infrastructure, healthcare, manufacturing, industrial, chemicals, distribution, consumer goods, energy services, business services, and communications. Trive Capital was founded in 2012 and is based in Dallas, Texas.


Deal Context for Buyer #
Overall 54 of 57
Sector: Transportation 4 of 4
Type: Buyout (LBO, MBO, MBI) 16 of 17
State: Michigan 4 of 4
Country: United States 51 of 53
Year: 2024 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-18 Formula Wellness

Dallas, Texas, United States

Formula Wellness is a provider of health, medical-based wellness, and aesthetics services with a focus on longevity science. The Company takes a personalized approach to wellness, with key services across nutrition, hormone balance, and aesthetics to improve patient longevity inside and out. Formula Wellness was formed in 2016 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-19 NCSG Crane & Heavy Haul

Acheson, Alberta, Canada

NCSG Crane & Heavy Haul is a provider of mobile crane rental and heavy haul services. NCSG provides turnkey solutions throughout the energy corridor of Canada and the US to customers in a variety of industries. NCSG Crane & Heavy Haul was founded in 1987 and is based in Acheson, Alberta.

Sell -
DESCRIPTION

Bluejay Capital is a merchant bank that invests in and provides M&A advisory services to companies operating in the transportation and logistics sectors. The Firm's investment unit looks to partner with founder-owned businesses throughout North America with $3 to $15 million of EBITDA and valued up to $120 million. Specific areas of interest include trucking, freight rail, rail services, ports/terminals, tech-enabled services, distribution, and logistics services. Bluejay Capital is based in Jacksonville Beach, Florida.


Deal Context for Buyer #
Overall 4 of 5
Sector: Transportation 2 of 2
Type: Buyout (LBO, MBO, MBI) 4 of 4
State: Michigan 1 of 1
Country: United States 4 of 4
Year: 2024 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-29 BWT Logistics

Smyrna, Georgia, United States

BWT Logistics is a third-party logistics provider specializing in comprehensive, client-focused solutions, including transportation, warehousing and storage, logistics handling, and other services. BWT Logistics is based in Smyrna, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-26 MobilGrain

Regina, Saskatchewan, Canada

MobilGrain provides grain transfer/processing services, operates two railroads in Saskatchewan, and offers railroad-related maintenance services. MobilGrain is based in Regina, Saskatchewan.

Buy -