BG Strategic Advisors Announces that BGSA Client Werner Enterprises, Inc. has sold Werner Global Logistics to Scan Global Logistics Group
Palm Beach, F.L. January 29, 2021 — BG Strategic Advisors (“BGSA”) is pleased to announce that Werner Enterprises, Inc. (NASDAQ: WERN) (“Werner”) has sold its Werner Global Logistics (“WGL”) freight forwarding services for international ocean and air shipments to Scan Global Logistics Group (“SGL”).
WGL, headquartered in Omaha, Nebraska, and with operations in the United States, Mexico, and China, offers comprehensive freight forwarding services for international ocean and air shipments to and from approximately 130 countries.
“After working with the SGLT team and understanding their core values and capabilities, I am excited for WGL’s international customers, associates and transportation partners worldwide,” said Werner’s Vice Chairman, President and Chief Executive Officer Derek Leathers. “We are proud of the global operation WGL has built and are confident it will continue to succeed as part of the SGL family. Going forward, we remain committed to our North American logistics capabilities in truck brokerage, freight management, intermodal and final mile services.”
Werner will continue to focus its resources, talent, and technology by providing superior truckload and logistics services in North America. “Innovative solutions in logistics have been our focus for over three decades,” said SGL’s North American Chief Operating Officer – International Julien Ranzato. “Werner’s established culture, leadership, network and core values are a great fit for us, and we look forward to continuing and expanding our relationship with Werner on international and domestic business opportunities that will result from this strategic partnership.”
BGSA acted as exclusive sell-side financial advisor to Werner.
About Werner Enterprises, Inc.
Werner was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America. Werner maintains its corporate headquarters in Omaha, Nebraska, and maintains offices in the United States, Canada and Mexico. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated; medium-to-long-haul, regional and expedited van; and temperature-controlled. The Werner Logistics portfolio includes North American truck brokerage, freight management, intermodal and final mile services. werner.com
About Scan Global Logistics Group
Scan Global Logistic Group has been in the international freight forwarding business since 1975 and is headquartered in Denmark, with North American headquarters in Seattle, WA, USA. SGL’s business activities focus on international freight-forwarding services worldwide primarily by air and sea, with supporting IT, logistics, warehousing and road services. The SGL Group maintains offices in 30 countries on 6 continents. SGL’s main focus is to create solutions to complex logistics challenges. www.scangl.com
About BGSA
BGSA Holdings LLC is a leading M&A advisory firm focused on the logistics and supply chain industry. The firm specializes in helping outstanding transportation and logistics companies to maximize value through mergers and acquisitions. BGSA has worked with major supply chain companies including NFI, UPS, DHL, Echo Global Logistics, New Breed (now XPO), GENCO (now FedEx), Converge (now Arrow Electronics), Wilpak (now Jacobson), and others. BGSA is also affiliated with Cambridge Capital, a leading private equity firm investing in supply chain and technology companies. For more information, please visit www.BGSA.com.
BGSA provides investment banking services through BGSA LLC, a registered broker-dealer and member of FINRA and the SIPC.
BGSA Advises NFI on Acquisition of CAI Logistics
Palm Beach, FL 08/17/2020 – BGSA Holdings LLC, a leading M&A advisory firm focused on the logistics and supply chain industry, advised NFI on the acquisition of CAI Logistics.
NFI, a leading supply chain solutions provider, has completed the acquisition of CAI Logistics, the non-asset logistics division of CAI International, Inc. (“CAI”) (NYSE: CAI) that generates more than $100 million in annual revenue. By acquiring CAI Logistics, NFI expands its suite of supply chain services, specifically enhancing its brokerage, intermodal, and global freight forwarding capabilities across North America.
With the acquisition, NFI’s non-asset logistics business units will generate in excess of $500 million in annual revenue, making up 20 percent of NFI’s total revenue of approximately $2.5 billion. Additionally, NFI advances its position as a best-in-class service provider and its expertise in numerous verticals including the industrial, manufacturing, food, beverage, and retail industries.
Facilitating more than 300,000 shipments annually, NFI provides thousands of customers with a wide breadth of multi-modal brokerage services. The addition of CAI Logistics further bolsters NFI’s specialized capabilities including flatbed, over-dimensional, less-than-truckload, expedited, and temperature-controlled transportation.
NFI is an asset and non-asset intermodal provider with capabilities across North America. It is an early adopter in the temperature-controlled intermodal space with a fleet of refrigerated intermodal containers. Integrating CAI Logistics’ rail solutions will extend NFI’s access to more than 100,000 pieces of railroad equipment. Bringing more than 200 years of combined intermodal operations experience to NFI, the CAI Logistics and ClearPointt Logistics teams, will significantly deepen NFI’s intermodal expertise.
Spanning Full Container Load, Less Than Container Load, perishable, and oversized shipments, the acquisition also enhances NFI’s growing ocean and air freight forwarding services that help shippers better connect their international and domestic supply chains.
“With CAI Logistics’ service offerings, NFI will be able to amplify the scalability of its non-asset logistics platform,” said Sid Brown, CEO, NFI. “As we have showcased with our long history of acquisitions, our ability to combine strong operations is unmatched, resulting in a more robust customer experience and integrated solutions that are seamless for shippers and their end consumers.”
“Being a part of the NFI family is a tremendous opportunity for us and for our customers,” said Janet Papworth, President, CAI Logistics. “Our common approach to customer-centricity, combined with NFI’s vast expertise and capabilities, will undoubtedly generate a new level of value we can provide for shippers.”
CAI Logistics represents NFI’s 20th acquisition since 2000. BGSA Holdings LLC acted as exclusive advisor to NFI. Recent acquisitions also include G&P Trucking, SCR Air, and California Cartage Company. CAI Logistics and its entities ClearPointt Logistics LLC, Challenger Overseas, LLC, Hybrid Logistics, Inc., and General Transportation Services, Inc. will be rebranded NFI.
BGSA acted as exclusive advisor to NFI.
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About BGSA
BGSA Holdings LLC is a leading M&A advisory firm focused on the logistics and supply chain industry. The firm specializes in helping outstanding transportation and logistics companies to maximize value through mergers and acquisitions. BGSA has worked with major supply chain companies including NFI, UPS, DHL, Echo Global Logistics, New Breed (now XPO), GENCO (now FedEx), Converge (now Arrow Electronics), Wilpak (now Jacobson), and others. BGSA is also affiliated with Cambridge Capital, a leading private equity firm investing in supply chain and technology companies. For more information, please visit www.BGSA.com.
About NFI
NFI is a fully integrated North American supply chain solutions provider headquartered in Camden, N.J. Privately held by the Brown family since its inception in 1932, NFI generates more than $2 billion in annual revenue and employs more than 13,000 associates. NFI owns facilities globally and operates approximately 50 million square feet of warehouse and distribution space. Its dedicated fleet consists of over 3,000 tractors and 12,500 trailers operated by 2,700 company drivers and leveraging partnerships with 400 owner operators. NFI has a significant drayage presence at nearly every major U.S. port, leveraging the services of an additional 1,500 owner operators. The company’s business lines include dedicated transportation, distribution, brokerage, transportation management, port drayage, intermodal, global logistics, and real estate. For more information about NFI, visit www.nfiindustries.com or call 1-877-NFI-3777.
About CAI International, Inc.
CAI is one of the world’s leading transportation finance companies. As of June 30, 2020, CAI owns and leases a fleet of over 1 million intermodal shipping containers to all the major global marine shipping companies. For more information, please visit www.capps.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and the future performance of CAI, including but not limited to: management’s business outlook, the intended sale of the rail and logistics businesses, and the initiation of future cash dividends. These statements and others herein are forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and involve risks and uncertainties that could cause actual results of operations and other performance measures to differ materially from current expectations including, but not limited to: utilization rates, expected economic conditions, expected growth of international trade, availability of credit on commercially favorable terms or at all, customer demand, container investment levels, container prices, lease rates, increased competition, volatility in exchange rates, growth in world trade and world container trade, the ability of CAI to convert letters of intent with its customers to binding contracts, potential to sell CAI’s securities to the public and others.
CAI refers you to the documents that it has filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2019, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K. These documents contain additional important factors that could cause actual results to differ from current expectations and from forward-looking statements contained in this press release. Furthermore, CAI is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, unless required by law.
BG Strategic Advisors Announces that Linx Partners Has Acquired Clover Telecom
West Palm Beach, FL – March 21, 2018 – BG Strategic Advisors (“BGSA”) is pleased to announce that Linx Partners has partnered with the management team of Clover Telecom (or the “Company”), to purchase the Company from Clover Technologies Group, the parent company of Clover Imaging and Clover Wireless.
Clover Telecom, based in Dallas, Texas is a leading provider of equipment distribution and repair and maintenance services for blue-chip customer base in the wireless, cable, data and wireline industries. The Company’s core services include (i) equipment distribution; (ii) equipment testing and repair; (iii) out of warranty technical support; and (iv) field services. Clover offers its global customers access to its extensive inventory of new and used networking equipment, as well as expansive repair and engineering capabilities on over 20 of the top Network Equipment OEMs.
“Linx was drawn to Clover because of the Company’s talented management team, strategic growth opportunities, and diversification of end markets,” said Giny Mullins, Managing Director at Linx Partners. “The Company’s expertise in networking equipment and breadth of repair and maintenance capabilities translate into tremendous potential in existing and new markets that are natural extensions of the business. In addition, this is a fragmented market that will provide abundant add-on opportunities for growth.”
“This sale will enable us to fully focus our energies on the growth opportunities for Clover Imaging and Clover Wireless, and provide us with additional resources to invest in those businesses,” said Jim Cerkleski, Chairman of Clover Technologies Group. “Our core Imaging and Wireless businesses each have strong market positions and established global manufacturing, repair and distribution footprints, which we will work to further build out as we continue our mission of supporting our customers and their new business strategies. We wish Gordon and the Clover Telecom team well in their next chapter.”
“We couldn’t be more excited about the fit we have found with Linx Partners,” said Gordon Smith, President of Clover Telecom. “Our two groups are aligned in our vision for growing our customer base, geographic presence, and technical capabilities.”
The telecom business represents less than five percent of Clover Technologies’ 2017 revenues. Financial terms of the transaction were not disclosed.
BGSA acted as exclusive sell-side advisor to Clover Technology Group.
About Linx Partners
Founded in 1999, Linx Partners is a private equity firm specializing in buyout investments for lower middle-market, family, and entrepreneur-led industrial companies. It primarily invests in industrial manufacturing, transportation & logistics, and business services companies with $5-15mm of EBITDA.
About Clover Technologies Group
Clover Technologies Group is the global leader in helping businesses reclaim value by innovating new solutions for retired assets. Founded in 1996, Clover is one of the fastest growing, privately held companies in the United States with over 60 locations in 18 countries. Clover Imaging is the world’s largest collector and remanufacturer of empty printer cartridges. Clover Wireless delivers market-leading service and value to its customers through a full range of repair, reclamation and trade-in solutions within the global mobile device ecosystem.
About Clover Telecom
Headquartered in Texas, Clover Telecom is a market leader in full lifecycle equipment and maintenance support for the telecom, cable, and IT sectors. Clover Telecom provides mission-critical services and products to blue-chip carriers, cable MSOs, and enterprises.
About BG Strategic Advisors
BGSA is a leading M&A advisory firm focused on the logistics and supply chain industry. The firm specializes in providing CEOs in the logistics and supply chain industry with the tools to maximize their company’s value. BGSA has completed several well-known supply chain transactions, including the sales of PCD to Quality One Wireless, Open Mile to Echo Global Logistics, NESA to Liquidity Services, Access Computer Products to Waste Management, Converge to Arrow Electronics, Dixie Warehouse Services and Wilpak to Jacobson Companies, Churchill to BirdDog, Raytrans to Echo Global Logistics, and many others.
For more information about BGSA, please contact Ben Gordon at ben@bgsa.com and 561-932-1601
BGSA provides investment banking services through BG Strategic Advisors LLC, a registered broker-dealer and member of FINRA and the SIPC.
1st Choice Delivery Acquired Controlling Stake in 4SameDay
BG Strategic Advisors Announces that 1st Choice Delivery Acquired Controlling Stake in 4SameDay
West Palm Beach, FL – November 8, 2017 – BG Strategic Advisors (“BGSA”) is pleased to announce that 4SameDay (or the “Company”) has sold a controlling stake to 1st Choice Delivery (“1st Choice”), a portfolio company of the private equity firm Northern Pacific Group (“NPG”).
Founded in 1995, 4SameDay is a premier provider of comprehensive same-day logistics solutions for time-sensitive shipments in the pharmaceutical, long-term care, entertainment, financial, print, advertising and media industries. The Company utilizes an asset-light operating model and proprietary technology to provide scheduled, routed and on demand deliveries and a full suite of value added services. 4SameDay maintains strong partnerships with its customers by generating meaningful cost savings through effective supply chain management and integrated, on-site customer service and dispatching capabilities. The Company focuses on traceability and certainty of arrival, ensuring prompt delivery of time-sensitive products.
Founders Eric Reese and Chris Carey will remain with 4SameDay and 1st Choice post close and will play important leadership, sales and business development roles.
BG Strategic Advisors, LLC acted as financial advisor and Greenberg Traurig acted as legal advisor to 4SameDay.
About 1st Choice Delivery
1st Choice Delivery is a Midwest-based, full service delivery and logistics company. 1st Choice focuses on serving the “last mile” and provides logistics services to more than 1,000 customers each day. Customers are served through a suite of logistics services including, parcel delivery, LTL delivery, on-demand delivery, inventory storage and FTL inventory repositioning.
About Northern Pacific Group
Northern Pacific Group is a private equity investment firm based in Wayzata, MN. NPG focuses on investing in lower middle market companies with attractive cash flow characteristics and strong organic growth and / or actionable acquisition strategies. NPG seeks to invest in companies where existing management and shareholders share the firm’s partnership values.
About 4SameDay
Headquartered in El Segundo, CA, 4SameDay provides same-day logistics solutions for time sensitive shipments in the pharmaceutical, long-term care, entertainment, financial, print, advertising and media industries. The Company utilizes proprietary technology and routing software to optimize customers’ supply chains, ensuring timely deliveries and efficient costs.
About BG Strategic Advisors
BGSA is the leading M&A advisory firm focused on the logistics and supply chain industry. The firm specializes in providing CEOs in the logistics and supply chain industry with the tools to maximize their company’s value. BGSA has completed several well-known supply chain deals, including the sales of Converge to Arrow Electronics, Dixie Warehouse Services and Wilpak to Jacobson Companies, the PWC Logistics acquisitions of Trans-Link and Transoceanic, the Churchill sale to BirdDog, the Raytrans sale to Echo Global, the Unicity sale to PBB, the Air-Road sale to Reliant Equity, and many others.
For more information, or to explore a sale, merger, acquisition, capital raise, or other strategic initiative for your company, please contact Managing Director Benjamin Gordon at (561) 932-1601, email Ben@bgsa.com, or visit www.BGSA.com.
BGSA provides investment banking services through BG Strategic Advisors LLC, a registered broker-dealer and member of FINRA and the SIPC.
ZMC Acquired Controlling Stake in IT Renew
BG Strategic Advisors Announces that ZMC Acquired Controlling Stake in IT Renew; Investment will Support IT Renew’s Continued Innovation in Data Security and Data Center Lifecycle Management
West Palm Beach, FL – November 2, 2017 – BG Strategic Advisors (“BGSA”) is pleased to announce that IT Renew has sold a controlling stake in the Company to affiliates of private equity firm ZMC. Founded in 2000, IT Renew (“ITR” or the “Company”) is a leading global IT lifecycle management solutions provider, specializing in data center decommissioning and data erasure and security services. The Company’s technology-driven approach streamlines traditional data center decommissioning processes to deliver superior data and asset security, value recovery and IT sustainability. Headquartered in Silicon Valley, IT Renew’s proprietary, software-driven platform, Teraware, was built in close collaboration with the world’s leading cloud and hyperscale datacenter operators. More than 200 customers utilize IT Renew’s solutions in over 40 countries across five continents through a global network of Company-owned and operated facilities.
Upon closing of the transaction, Aidin Aghamiri will take over as Chief Executive Officer of IT Renew and founder Mostafa Aghamiri will remain involved as Chairman.
“The ZMC team values and supports IT Renew’s mission to provide the market-leading service and best-in-class products that has defined us for the last 17 years,” said Aidin Aghamiri. “We are thrilled to have a partner who will continue to champion aggressive investments in our Company and customers, and who has a proven track record of taking technology-enabled services companies to the next level of success.”
“IT Renew has incredibly strong client relationships, industry-leading service and software, and a culture characterized by entrepreneurial spirit and accelerating momentum—all critical to our investment decision,” said Andrew Vogel, Managing Partner at ZMC. “ZMC has been impressed by the Company’s growth and is committed to supporting ITR’s investments in service and innovation. The acquisition of IT Renew emanates from ZMC’s focus on the shift to cloud computing and data security as investment themes which will continue to drive growth for the Company’s services and addressable market.”
Wells Fargo Securities, LLC and BG Strategic Advisors, LLC acted as financial advisors and Moore & Van Allen PLLC acted as legal advisor to IT Renew. Sidley Austin LLP acted as legal advisor to ZMC.
About ZMC
ZMC is a leading private equity firm comprised of experienced investors and executives that invest and manage a diverse group of media and communications enterprises. Founded in 2001, ZMC’s investment philosophy centers on operational value creation driven by targeted investment themes, deep sector expertise, and strong partnerships with industry and operating executives. ZMC approaches its investments in collaboration with management teams and has a successful track record of actively adding value to portfolio companies. ZMC is currently investing out of ZMC II, L.P. www.zmclp.com
About IT Renew
Headquartered in the heart of Silicon Valley, IT Renew supports the data erasure and data center decommissioning needs of some of the most large-scale, data-rich, privacy-focused organizations in the world. The Company’s technology-driven approach streamlines traditional data center decommissioning processes to deliver superior data and asset security, value recovery and IT sustainability. IT Renew was designated a Visionary in the Magic Gartner Magic Quadrant for IT Asset Disposition, Worldwide and named to the 2016 Inc. 5000, finishing among the top 10 percent of all ranked companies in gross revenues.
About BG Strategic Advisors
BGSA is the leading M&A advisory firm focused on the logistics and supply chain industry. The firm specializes in providing CEOs in the logistics and supply chain industry with the tools to maximize their company’s value. BGSA has completed several well-known supply chain deals, including the sales of Converge to Arrow Electronics, Dixie Warehouse Services and Wilpak to Jacobson Companies, the PWC Logistics acquisitions of Trans-Link and Transoceanic, the Churchill sale to BirdDog, the Raytrans sale to Echo Global, the Unicity sale to PBB, the Air-Road sale to Reliant Equity, and many others.
For more information, or to explore a sale, merger, acquisition, capital raise, or other strategic initiative for your company, please contact Managing Director Benjamin Gordon at (561) 932-1601, email Ben@bgsa.com, or visit www.BGSA.com.
BGSA provides investment banking services through BG Strategic Advisors LLC, a registered broker-dealer and member of FINRA and the SIPC.
