December 13, 2022
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Pacific Cascade Distribution and Pacific Cascade Trucking (collectively “Pacific Cascade” or the “Company”), an asset-light provider of critical third-party logistics (“3PL”) services, in its acquisition by World Group, a global logistics organization headquartered in Cleveland, Ohio.
Founded in 2005, Pacific Cascade is a leading provider of asset-light 3PL services including container drayage, warehousing, transloading, and fulfillment. Strategically located in Sumner, Washington near the ports of Tacoma and Seattle, the Company operates a 267,000 sq ft distribution facility with a fleet of over 50 professional drivers. Pacific Cascade supports a growing customer base across a variety of end markets including eCommerce, omnichannel retail, packaging, construction, and more.
World Group and its operating companies have a robust presence east of the Rockies and this acquisition, along with other recent capital investments, will bolster their presence in the Pacific Northwest while positioning Pacific Cascade to continue its rapid growth throughout the region.
“This agreement really made sense for both organizations, as our leadership teams share a similar vision for the region,” said Jeff Roulst, CEO of Pacific Cascade. “We selected Cascadia Capital as our advisor due to their extensive logistics and transportation expertise and their commitment to getting us the best result for our business and our employees. We are grateful for their close counsel and the well-coordinated process they ran to achieve our objectives and exceed our expectations.”
“Pacific Cascade has established itself as one of the leading 3PL providers in the Pacific Northwest, and we were pleased to work with Jeff, Frank, and their team to find a partner that can support their continued growth,” said Firdaus Pohowalla, Managing Director and Head of Transportation, Logistics, and Supply Chain coverage at Cascadia Capital. “The region has become much more strategically valuable as shippers seek an alternative West Coast access point for increased volume, and Pacific Cascade is ideally positioned to benefit from this growth. As the 3PL space continues to grow and evolve, we look forward to leveraging our deep industry experience to continue to support clients in the space.”
The acquisition represents another successful transaction for Cascadia’s transportation, logistics, and supply chain practice, following the recent growth equity investment in Shipfusion from Kayne Anderson Capital Advisors, the acquisition of FragilePak by Greenbriar Equity and the sale of Cory to JB Hunt.
For more information about this transaction, please contact the Cascadia Capital deal team:
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