Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised DSI Logistics, a portfolio company of Headhaul Capital Partners LLC (Headhaul Capital) and Argosy Private Equity (Argosy), on its sale to Pilot Freight Services (Pilot), a portfolio company of ATL Partners (ATL) and British Columbia Investment Corporation (BCI). DSI Logistics is a premier provider of final-mile delivery services. The transaction was led by Jason Bass, Frank Mountcastle, Jeffrey Kidd, Jonathan Meredith and Brett Bordlee of the Harris Williams Transportation & Logistics (T&L) Group.
“DSI Logistics is a best-in-class mission critical outsourced logistics provider known for its high levels of client service and execution excellence. The company thrived under the ownership of Headhaul Capital and Argosy, and we are excited to see what DSI Logistics accomplishes in partnership with Pilot,” said Jason Bass, a managing director at Harris Williams.
“The final-mile has quickly become one of the most critical legs of the supply chain as companies respond to the rapid growth of e-commerce and changing consumer behaviors and expectations. We expect to see continued strong investor interest in final-mile providers such as DSI Logistics with the scale, delivery network and systems in place to service a national customer base,” added Jonathan Meredith, a director at Harris Williams.
DSI Logistics is a leading third-party logistics firm specializing in final-mile home delivery, distribution and installation of large, non-conveyable goods such as furniture, appliances and electronics. DSI Logistics is focused on developing long-term, strategic partnerships with local and national retailers, distributors and manufacturers to become an integral part of their supply chains. The company’s mission is to provide a professional, safe and successful delivery experience every time to every customer.
Headhaul Capital, based in Greenwich, Connecticut, is a middle market private equity firm focused on acquiring and building businesses in the transportation, logistics and distribution industries. The managing partners have extensive private equity and operating experience, with an average of 20 years of experience specifically in the company’s focus industries. This longstanding history of specialization and particular capabilities in these industries offers senior executives a unique opportunity to partner with an investment team that works to create value through a proven combination of an in-depth understanding of niche-trends, experience in delivering operational efficiency, debt and equity capital markets knowledge, and execution of strategic and acquisition driven growth initiatives.
Argosy, founded in 1990, specializes in providing capital and operating and financial expertise to lower middle market companies across a broad range of industries. Argosy partners with motivated management teams investing in companies with sustainable competitive advantages and attractive growth prospects. Argosy Private Equity is a division of Argosy Capital Group, Inc. (Argosy Capital) together with Argosy Real Estate Partners, Argosy Credit Partners, Argosy Strategic Partners and Argosy Healthcare Partners. Argosy Capital is an SEC registered investment adviser with approximately $1.5 billion of assets under management. All of the Argosy Capital funds focus on lower middle market investments.
Pilot is an award-winning full-service transportation and logistics provider with 96 locations throughout North America. Pilot also has several locations in Western Europe and a presence in the Asia-Pacific marketplace. The company’s freight forwarding services encompass every mode of transportation, including air, ground and ocean, serving all corners of the globe. Pilot’s full-mile and final-mile home delivery solutions for heavy and hard to handle goods include value-added service offerings such as white glove, assembly and installation. Pilot’s logistics programs offer a complete line of expedited and time-definite services, international shipping solutions, product warehousing and inventory management. In addition, Pilot’s online shipment navigator, CoPilot, makes online shipping fast, convenient and secure.
Founded in 2014, ATL is a premier sector-focused private equity firm that invests in aerospace, transportation and logistics companies. ATL brings deep sector expertise to its investment approach with nine investment professionals and seven Executive Board members who have decades of combined operating experience in each of ATL’s core sectors.
With 171.3 billion Canadian dollars of managed assets as of March 31, 2020, BCI is a leading provider of investment management services to British Columbia’s public sector and one of Canada’s largest asset managers. BCI generates investment returns that help their institutional clients build a financially secure future. With a global outlook, BCI seeks investment opportunities that convert savings into productive capital that meet their clients’ risk/return requirements over time. BCI invests across a range of asset classes: fixed income; mortgages; public and private equity; real estate; infrastructure; and renewable resources. BCI’s private equity program, valued at CA$17.9 billion, is focused on direct investments in industrials, technology, consumer/retail, healthcare, as well as financial and business services.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Transportation & Logistics Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), automotive and heavy-duty vehicle, transportation equipment, and truck, rail, marine and air transportation. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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