September 7, 2017
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Haney Transportation & Logistics (“Haney”), one of the Pacific Northwest’s leading heavy-haul trucking and logistics services companies, in its acquisition by Wilson Logistics (“Wilson”).
Haney, a portfolio company of Evergreen Pacific Partners, traces its roots back to several Northwest trucking companies going back to 1923. For over 90 years, Haney has been a leader in providing high quality heavy haul and truckload transportation in the Western United States, British Columbia, and Alberta. In the Northwest, Haney has led the way in capacity maximization, and moving heavier and higher cube loads than standard national carriers. Specialized tractors and trailers enable Haney to haul these heavier loads up to 63,000 pounds.
Wilson Logistics is a family-owned and operated asset-based third-party logistics provider with a range of transportation services including: Full Truckload, Heavy Haul, Yard Management Solutions, Dedicated Solutions, and Power Only Solutions. The acquisition of Haney will allow Wilson to enter the heavy haul transportation segment through Haney’s loyal customer base and specialized equipment and expertise.
Peter Carlander, previous CEO of Haney, will continue in an upper-management role within Wilson Logistics. Carlander says, “the Haney team looks forward to joining the growing Wilson Logistics family. We will be able to bring our specialized service offering to the existing Wilson Logistics portfolio and provide all our customers with improved service.”
“The Cascadia investment banking team demonstrated deep industry knowledge and a wide range of relationships in the transportation industry in guiding us through this deal,” Carlander added. “They provided invaluable advice and partnership throughout the process, focused always on a win/win solution for Evergreen, Haney employees and our customers and communities. This transaction allows us to find an ideal long-term partner for the Haney team.”
The acquisition of Haney represents another successful transaction for the Cascadia Capital Transportation and Logistics team. Recent transactions include the acquisitions of TransGroup Global Logistics, Global Transportation Services and Watkins & Shepard Trucking. The Cascadia team was recognized for its role in facilitating the acquisition of Watkins & Shepard Trucking last year as a finalist for Industrials Deal of the Year award by M&A Advisor.
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