Fenway partners sells its share of Greatwide Logistics Services to Investcorp and Hicks Holdings
点击数： 更新时间：2006-12-11
DALLAS—Fenway Partners, a New York-based private equity firm, said earlier this week it has entered into an agreement to sell a large portion of its holding in non asset-based third-party logistics (3PL) services provider Greatwide Logistics Services to Investcorp and Hicks Holdings LLC for $730 million.
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The transaction is expected to be completed by the end of this year. Greatwide’s core focus areas are dedicated transport, truckload management, truckload brokerage and distribution logistics. Wal-Mart, Target, IBM, Sysco, UPS, Dow, Ford Motor, and GM are among the company’s customers.
Fenway has been very active in the transportation and logistics sectors, having made 14 acquisitions since 2000. Marc Kramer, Fenway managing partner, told Logistics Management, that Fenway had owned its portion of Greatwide for the last six years. And he said “it seemed to be an appropriate time to demonstrate a return to [its] investors.”
Fenway will retain a minority interest in Greatwide, added Kramer, and he also said the firm is enthusiastic about Greatwide’s future prospects.
Once the transaction is completed, Greatwide’s customers, owner-operators, agents and emplo
