Watkins & Shepard

Watkins & Shepard - Case Study

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  • Founded in 1976, Watkins & Shepard with 20 terminals nationwide, 785 drivers and 780 trucks, offers truckload hauling and specialized LTL services for furniture, carpet, flooring and beverage shipments
  • Through a strategic partnership with Lodeso, Inc., a last mile provider, the company has emerged as a nationwide leader for first-to-last mile furniture transportation in the US, making it the partner of choice for e-commerce customers


  • By becoming a market leader in transportation for e-commerce, the company had experienced fast paced growth and wanted to find a partner to continue the company’s growth trajectory
  • The company had two shareholders – one wanted to find a partner for growth; and the other, non-active partner, sought liquidity
  • Cascadia was engaged to conduct a thorough analysis of the potential merger between Watkins and Lodeso and find an acquirer that could integrate the businesses while meeting both shareholders’ goals

Cascadia Process

  • Cascadia conducted an auction process with a small group of strategic buyers and a broader group of industry-focused private equity investors
  • Cascadia worked with Watkins’ CEO to make initial contact to potential acquirers, but quickly received preemptive interest from a few large strategic buyers
  • Cascadia closed the transaction with Schneider National, Inc., the largest private trucking company in the US
  • Combined with the scale and financial resources of Schneider, Watkins and Lodeso will be able to fully capture the potential of the rapidly growing e-commerce market for furniture and home goods throughout North America
Trust. Experience. Independence. Results.

Building Trust

“Cascadia did an exceptional job positioning us in front of funds that align with our strategy and value. Their deep healthcare knowledge and relationships were key to receiving multiple offers and running a process that lasted less than three months.”

Ryan Schmid  |  President & CEO
Vera Whole Health

“Cascadia designed a custom process that focused on finding us the right partner who valued our culture and mission, which in turn delivered a great outcome for all of our stakeholders.”

Jamie Danek  |  CEO
Humm Kombucha

“Working with Cascadia was both rewarding and insightful.  It was a pleasure watching the team expertly navigate a process that I personally was quite familiar with. The Automotive Aftermarket group was the best team of bankers I have worked with.”

Greg Chapman  |  Chairman of the Board

“I’m grateful to Cascadia for their insightful counsel and thoroughness in selecting a buyer who valued our unique growth opportunity and was committed to maintaining the integrity of our brand.”

Keith Robbins  |  Founder
Bubbies Homemade Ice Cream and Desserts, Inc.

“Cascadia helped develop the confidence of myself and my management team regarding a transaction. They supported us at every point along the way.”

Joan Wellman  |  Founder
JWA Consulting

“Cascadia delivered on their promises and exceeded our expectations in an investment banking partner, guiding us effectively through this critical juncture in our growth path.”

Ray Kuntz  |  CEO & Chairman
Watkins & Shepard

“Cascadia’s restaurant industry knowledge, market savvy and deep institutional relationships positioned our brand and customer value proposition perfectly to the investment community.”

Bruce Dean  |  Co-Founder & CEO
Black Bear Diner

“Cascadia was outstanding at resolving complex issues throughout the entire acquisition process. They instilled confidence among all the parties with their creativity and professionalism.”

Jim Sweeney  |  Vice President & General Manager
Super Supplements Vitamin Shoppe

“Cascadia has an incredible mix of technology savvy, relentlessly practical advice, and nuanced delivery. Cascadia represented us far better than we could have ever done ourselves.”

Troy Davis  |  CEO & Co-Founder

“We selected Cascadia for their domain expertise.  Their experience in the pet industry helped us achieve our objectives and enabled us to exceed our shareholders’ expectations.”

Ed Ryan  |  Chairman
Manna Pro

“Cascadia’s knowledge of the investors and the Healthcare IT landscape proved immensely helpful in our process.”

David Lischner  |  CEO

“Cascadia was knowledgeable about our market and counter-party universe, and they were sophisticated and hardworking throughout what evolved into a complex transaction.”

Jim Balthazar  |  CEO

“We relied on Cascadia heavily throughout the process to guide our strategy and to get us in front of the top growth equity firms in the country. I highly recommend them.”

Henry L. Schuck, Esq.  |  CEO
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