M&A Deal Summary

United Road Services Acquires Team Drive-Away

On October 21, 2019, United Road Services acquired transportation company Team Drive-Away from CID Capital and Barings Private Equity

Acquisition Highlights
  • This is United Road Services’ 1st transaction in the Transportation sector.
  • This is United Road Services’ 1st transaction in the United States.
  • This is United Road Services’ 1st transaction in Kansas.

M&A Deal Summary
Date 2019-10-21
Target Team Drive-Away
Sector Transportation
Buyer(s) United Road Services
Sellers(s) CID Capital
Barings Private Equity
Deal Type Add-on Acquisition

Target

Team Drive-Away

Olathe, Kansas, United States
Team Drive-Away, Inc. is a non-asset-based commercial vehicle logistics provider specializing in matching professional drivers with moves of used and new heavy-haul Class 8 trucks for sellers and buyers as well as moves to reposition and optimize fleets. Team Drive-Away was founded in 2007 and is based in Olathe, Kansas.

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Buyer(S) 1

Buyer

United Road Services

Romulus, Michigan, United States
Category Company
Founded 1998
Sector Transportation
Employees1,726
DESCRIPTION

United Road Services is a provider of vehicle transport and logistics in North America. United Road serves 10,000-plus diverse customers including manufacturers, retailers, finance and leasing companies, rental agencies, auctions, web-based logistics firms and individuals transporting millions of new, remarketed and specialty vehicles annually. United Road Services was founded in 1998 and is based in Romulus, Michigan.

DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Kansas) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1

Seller(S) 2

SELLER

CID Capital

Indianapolis, Indiana, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

CID Capital is a private investment firm that makes both venture capital and private equity investments. CID's private equity practice invests $10 to $15 million of equity capital in lower middle-market companies with $10 to $100 million of revenue and at least $3 million of cash-flow. Funds are generally used to support divestitures, management buyouts, leveraged buyouts, shareholder liquidity, recapitalization, and growth financing. Areas of interest include industrial products and services, general distribution, safety and security products, branded consumer products, medical products and services, building products, and food manufacturing. The Firm prefers investments located within the US. CID Capital was formed in 1981 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 20 of 25
Sector (Transportation) 2 of 2
Type (Add-on Acquisition) 9 of 11
State (Kansas) 3 of 3
Country (United States) 20 of 25
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-02 Seaga

Freeport, Illinois, United States

Seaga is a manufacturer of Food & Beverage, Industrial, and Water vending solutions. Seaga pairs its high-quality, customized solutions with a rapid prototyping and turnaround process to meet each customer's delivery demands. Seaga was founded in 1987 and is based in Freeport, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 Classic Accessories

Kent, Washington, United States

Classic Accessories is a designer and distributor of outdoor product covers. Classic Accessories' products protect and cover consumers' outdoor gear, including cars, RVs, motorcycles, patio furniture, grills, boats, snowmobiles, power equipment, generators, ATVs, UTVs, and golf carts. Classic Accessories was founded in 1983 and is based in Kent, Washington.

Sell -
SELLER

Barings Private Equity

Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 30 of 37
Sector (Transportation) 3 of 3
Type (Add-on Acquisition) 18 of 23
State (Kansas) 1 of 1
Country (United States) 27 of 33
Year (2019) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-27 Siblu

Pessac, France

Siblu is an owner-occupied holiday park operator, offering facilities and services in 22 award-winning destinations in France and the Netherlands, comprising approximately 12,000 pitches. Siblu was founded in 1975 and is based in Pessac, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-12 JMH Premium

Salt Lake City, Utah, United States

JMH International LLC develops and manufactures a broad range of soup bases, sweet and savory flavor bases, stock concentrates, sauces, gravy mixes, dessert preparations, seasoning blends, powdered drink mixes, and dry complete meals. The Company, a leader in developing food flavoring systems, provides custom formulations and culinary solutions to the food industry, selling to customers in the foodservice, ingredient, specialty retail and co-manufacturing channels. JMH International was founded in 1982 and is based in Salt Lake City, Utah.

Sell -
Mergr

Product

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