Sterling Investment Partners has sold Lazer Spot to Greenbriar Equity Group
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Lazer Spot, Inc. (“Lazer Spot”) has been sold to Greenbriar Equity Group, LLC (“Greenbriar”). Lazer Spot was a portfolio company of Sterling Investment Partners (“Sterling”). Terms of the transaction were not disclosed.
Lazer Spot is the category leading provider of comprehensive yard management solutions, including trailer spotting, shuttling and other complementary transportation and logistics services. Lazer Spot’s services are critical to its customers’ logistics and supply chain operations. As a result, Lazer Spot has built deep relationships with a broad base of blue-chip customers operating across the consumer packaged goods, food & beverage, pulp & paper, retail and other industrial sectors.
Adam Newsome, CEO of Lazer Spot, commented, “Lincoln was the absolute right choice to advise us. Their unique insights and in-depth understanding of our business model allowed them to tell our story and value proposition in a highly compelling manner. We are eager to work with our new partner, Greenbriar, a firm with a long-standing focus on the logistics sector. Given their experience and relationships, Greenbriar can provide unique support as we continue to grow our business while remaining committed to providing best-in-class service to our customers.”
William Macey, Managing Partner and Co-Founder of Sterling, added “Our partnership with Lazer Spot’s management team has been close, and together we have built the clear industry leader. Lincoln’s focus and commitment was crucial to consummating the transaction with Greenbriar, who we believe will be an outstanding partner to continue Lazer Spot’s success.”
Lincoln acted as the lead financial advisor to Lazer Spot and Sterling, working closely with the management team and shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
About Sterling Investment Partners
Sterling Investment Partners is a private equity firm that has been investing in and building middle market companies for almost 25 years with a highly experienced, cohesive team of senior investment professionals. Sterling acquires businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Sterling is currently investing its $721 million fund that closed January 2014. Over its history, Sterling has completed platform investments, strategic or add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of approximately $10.0 billion, representing more than 100 transactions. Key industries Sterling focuses on include business services, industrial and consumer value-added distribution, niche manufacturing and transportation and logistics. More information about Sterling can be obtained at: www.sterlinginvestment.net.
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