Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of A&R Logistics, Inc. (A&R) to Mason Wells and industry executives and investors Mark Holden and Rich Mitchell (the Industry Executives). Joining Mason Wells and the Industry Executives in the transaction were members of the existing A&R management team and other investors. A&R is a leading provider of dry bulk transportation, packaging, distribution, and logistics solutions serving the chemical and plastic industries in North America. A&R was a portfolio company of FdG Associates (FdG). Harris Williams & Co. acted as a financial advisor to A&R. The transaction recently closed and was led by Jason Bass, Frank Mountcastle, Joe Conner, Jeff Burkett and Jeff Kidd from the firm’s Transportation and Logistics (T&L) Group.
“With a strong market leadership position, compelling industry fundamentals and great prospects for continued growth, A&R represents a truly unique platform in the transportation & logistics services sector,” said Jason Bass, a managing director at Harris Williams & Co. and co-head of the firm's T&L Group. “The management team, led by CEO Jeff O’Connor and CFO Brian Reichert, has built a tremendous business that today sets the standard in the dry bulk transportation industry for operating performance, safety and customer service.”
A&R, headquartered in Morris, IL, provides a comprehensive suite of services including over-the-road transportation, transloading, packaging, warehousing and end-to-end outsourced transportation management through a nationwide network of 25 facilities, a combination of company owned equipment and owner operators and a non-asset based transportation management division.
FdG, headquartered in New York, NY, is a private investment firm providing equity capital to North American-based middle market growth companies with sound businesses and unrealized potential. By building a partnership with management and offering creative problem solving and strategic, long-term planning focused around key corporate initiatives, FdG empowers companies to achieve their full growth potential and increase their equity value. FdG pursues opportunities in business services, construction and industrial services, consumer products and services, value-added distribution, light manufacturing, retail and transportation and logistics.
Mason Wells, based in Milwaukee, WI, is a private equity firm that manages more than $800 million of capital through the Mason Wells Buyout Funds. Since 1982, Mason Wells has closed more than 80 transactions through the Mason Wells Buyout Funds and its predecessor funds. Mason Wells focuses its investments in the Outsourced Business Services, Consumer Packaged Goods, Packaging Materials & Converting, and the Engineered Products & Services industries.
Industry investors Mark Holden and Rich Mitchell bring significant transportation industry resources and experience to A&R. Previously, Mark Holden was President and CEO of Prime Distribution Services (PDS), a leading provider of transportation management, warehousing and other value-added logistics services. Prior to PDS, Mr. Holden was President of American Commercial Lines (ACL), a $1 billion integrated marine transportation and logistics company. Mark also held various executive management positions including the Office of the CEO at Wabash National Corporation. Rich Mitchell was Chief Financial Officer and Senior VP of Corporate Development at PDS. Prior to PDS, Mr. Mitchell served as Senior VP of Corporate Strategy for ACL. Mr. Mitchell also spent over 20 years in various capacities for United Parcel Service, Inc.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.'s T&L Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), surface transportation, airport and aviation services, marine transportation, transportation infrastructure, transportation equipment and the automotive and heavy duty vehicle market. In addition to A&R, other recent clients include marquee transportation and logistics industry names such as The Kenan Advantage Group, Touchstone Wireless, LMS Intellibound and Charter Brokerage.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.
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