Harris Williams & Co. Advises Unitrans International Logistics in its Sale to Roadrunner Transportation Systems, Inc.

March 18, 2014

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Unitrans International Logistics (Unitrans), an industry-leading international logistics provider, to strategic buyer Roadrunner Transportation Systems, Inc. (Roadrunner; NYSE:RRTS). Harris Williams & Co. acted as the exclusive advisor to Unitrans, a portfolio company of Palm Beach Capital and Logisticap Partners. The transaction closed on March 14, 2014 and was led by Frank Mountcastle, Jason Bass, Jeff Burkett, Jeff Kidd and Carl Hardie from Harris Williams & Co.’s Transportation & Logistics (T&L) Group.

“Unitrans has carved out a unique niche in the freight forwarding industry serving high value clients with a focus on complex, cold-chain shipments,” said Frank Mountcastle, a managing director and co-head of Harris Williams & Co.’s T&L Group.  “Having made other acquisitions in the space, Roadrunner is becoming a key player in the freight forwarding sector.”

“We are very proud to have worked with the Unitrans team on this transaction,” said Jeff Burkett, a vice president in Harris Williams & Co.’s T&L Group.  “Unitrans is a dynamic business and we are pleased to have delivered a successful outcome for the shareholders.”

Unitrans has been providing tailored international shipping and logistics services across the globe since 1977.  Unitrans offers its customers international ocean and air transportation management, customs house brokerage and domestic logistics solutions, with a focus on complex, cold chain and high value shipments.

Founded in 2001, Palm Beach Capital is a private equity investment firm that partners with management teams in middle market buyouts, recapitalizations and growth equity investments. With offices in both West Palm Beach and Tampa, FL, the firm focuses on high growth investment opportunities. Since its inception, the firm has made investments in 37 companies.

Logisticap Partners is a fundless sponsor that focuses solely on sourcing and implementing proprietary transactions in the logistics industry.  Logisticap has completed four transactions since 2012 with a combined enterprise value of more than $300 million. 

Roadrunner is a leading asset-light transportation and logistics service provider offering a full suite of solutions, including customized and expedited less-than-truckload, truckload logistics, transportation management solutions, intermodal solutions, freight consolidation, inventory management, expedited services, international freight forwarding, customs brokerage and comprehensive global supply chain solutions. 

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, transportation equipment and the automotive and heavy duty vehicle market.  For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group website.