Harris Williams Advises Lazer Spot, Inc. on its Sale to Harvest Partners, LP
December 10 2019 - 10:23AM
Business Wire
Harris Williams, a global
investment bank specializing in M&A advisory services,
announces that it advised Lazer Spot, Inc. (Lazer Spot), a
portfolio company of Greenbriar Equity Group, LP (Greenbriar), on
its sale to Harvest Partners, LP (Harvest Partners). Lazer Spot is
a leading independent provider of comprehensive yard management
services and solutions. The transaction was led by Jason Bass,
Frank Mountcastle, Jeff Kidd, James O’Malley and Trey Balson of the
Harris Williams Transportation & Logistics (T&L) Group and
Liam Duffy of the firm’s Richmond office.
“It was a pleasure to work with the Lazer Spot management team
and Greenbriar on this transaction,” said Frank Mountcastle, a
managing director at Harris Williams. “Adam Newsome, CEO of Lazer
Spot, and the rest of the management team have built the industry
leader in the trailer spotting and yard management services sector.
We are excited to see how they will continue to grow and evolve in
partnership with Harvest over the coming years. The transaction
adds to our firm’s successful track record of advising premier
companies in the 3PL space.”
“As supply chains become increasingly complex, organizations are
relying more than ever on specialized outsourced service providers
in order to focus attention on core competencies,” said Jason Bass,
a managing director at Harris Williams. “That’s making the 3PL
sector an attractive space for investment, especially in
top-quality assets like Lazer Spot.”
Lazer Spot is the largest independent provider of comprehensive
yard management services and solutions in the U.S., managing the
movement of trailers at more than 400 distribution centers and
manufacturing facilities in the U.S. and Canada. The company serves
a diverse customer base, including many of the world’s largest
consumer products manufacturers, retail organizations and
industrial companies. It is on the Transport Topics list of the Top
50 Logistics Companies in the U.S.
Founded in 1999, Greenbriar is a private equity firm with over
$3.5 billion of committed capital focused on investing in
market-leading manufacturing and services businesses in partnership
with proven management teams. Greenbriar looks to identify
companies capitalizing on strong long-term growth prospects that
can benefit from Greenbriar’s industry knowledge, operating
capabilities, network of senior executive relationships, strategic
insight and access to capital. Sectors of particular focus include
aerospace and defense, industrial and business services,
transportation and logistics, and specialty manufacturing.
Founded in 1981, Harvest Partners is a leading New York-based
private equity investment firm that focuses on investments in
middle market companies in the business services and consumer;
healthcare; industrial services; and manufacturing and distribution
sectors. This strategy leverages Harvest Partners’ more than 35
years of experience in financing organic and acquisition-oriented
growth companies.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams T&L Group serves companies in a broad
range of attractive niches, including automotive and heavy duty
vehicle; transportation equipment; 3PL; and truck, rail, marine and
air transportation. For more information on the firm’s T&L
Group and other recent transactions, visit the T&L Group’s
section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 648-0072.
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version on businesswire.com: https://www.businesswire.com/news/home/20191210005725/en/
Katie Langemeier, associate brand manager, +1 (804) 648-0072
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