Peter Hicks, Managing Director of Linx Partners, LLC, served as Chairman and speaker of The Capital Roundtable’s conference entitled “Private Equity Investing in Transportation & Logistics Companies.” Joined by fellow private equity leaders as well as company executives, the New York City conference covered various topics including key T&L investment characteristics, the current state of the M&A environment, the impact of technological change and the growing importance of human resources.
Linx Partners III, L.P. (“Linx III”)
Linx Partners is pleased to announce that it has completed the final closing of Linx Partners III, L.P. (“Linx III”), with commitments of nearly $150 million.
“We are pleased to announce the final close of our third fund and are excited by strong support from both existing and new investors. We see this successful fundraise as a strong vote of confidence in our team and are excited about the opportunities we see for companies at the core of our investment philosophy.” commented Linx Managing Partner and Founder, Babette Henagan.
Linx III, similar to predecessor funds, will continue to execute the strategy of being a disciplined investor in the U.S. small buyout logistics, energy and industrial marketplace. Linx, with its tenured senior investment team, focuses on being the first institutional investor in niche industrial companies looking for a change agent with annual revenues between approximately $20 million and $125 million.
This final close marked the return of many LPs ranging from institutional investors, family offices and high net worth individuals. “We are honored by the support of our limited partners, many of whom have invested with us for over ten years and look forward to further building on our track record of delivering superior returns to our investors.” commented Linx Managing Partner and Founder, Peter Hicks. “We deeply appreciate the confidence our LPs have shown in us as managers.”
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Alternative Distribution Systems Logistics Company, Inc.
Linx Partners, LLC announced the sale of Alternative Distribution Systems Logistics Company, Inc., a national provider of trucking, warehouse and intermodal logistics services to the metals industry.
Association for Corporate Growth & Peter Hicks
The Westchester, New York chapter of the Association for Corporate Growth hosted Peter Hicks, Managing Director of the Linx New York Office, to participate as a panel member with other select leaders of private equity firms in the New York area to discuss viewpoints on topics relevant to deal making in the middle market. The panel addressed various subjects including each firm’s approach to investing, opinions on the current transaction environment and the challenges that lie ahead in private equity.
Transpro Burgener
Linx Partners, LLC announced the acquisition of Transpro Burgener, based in Fort Collins, CO. The Company is a provider of bulk material hauling services, specializing in energy, infrastructure and industrial transport throughout the Rocky Mountain region.
Grammer Transport Acquires Select Transport, Inc.
Linx Partners, LLC is pleased to announce that its portfolio company Grammer Transport Holdings, Inc., a Grammer, Indiana based hauler of anhydrous ammonia and other bulk hazardous materials, acquired Select Transport, Inc., a Montpelier, Ohio based propane trucking company. This acquisition further expands Grammer’s presence in the Midwest and significantly increases Grammer’s operating capacity.
Mr. Charles “Shorty” Whittington at the United States House of Representatives
Linx Partners, LLC is pleased to announce that CEO of Grammer Industries, Inc., Mr. Charles “Shorty” Whittington testified on March 6, 2014 before the United States House of Representatives Subcommittee on Energy and Power of the Committee on Energy and Commerce at the hearing entitled “Benefits of and Challenges to Energy Access in the 21st Century: Fuel Supply and Infrastructure.” Mr. Whittington testified on behalf of the American Trucking Associations, Inc. (ATA) and the National Tank Truck Carriers (NTTC). Grammer Industries is a leading provider of logistics and hauling services, specializing in transporting anhydrous ammonia and other bulk hazardous materials in the eastern United States.
Grammer Industries Recently Voted As One of the 2014 Top Fleets to Drive For
Linx Partners, LLC is pleased to announce that Grammer Industries, Inc. was recently voted as one of the 2014 top 20 fleets to drive for in North America by the Truckload Carriers Association (TCA) and CarriersEdge. The Grammer team will receive the award at the annual TCA Convention, being held March 23-26 in Dallas, TX. Grammer Industries is a leading provider of logistics and hauling services, specializing in transporting anhydrous ammonia and other bulk hazardous materials in the eastern United States.
Sale of Tidewater Equipment Company
Linx Partners, LLC announced the sale of Tidewater Equipment Company (“Tidewater”), a leading distributor and servicer of timber harvesting equipment and parts in the Southeast U.S., operating through 13 branch locations in Alabama, Georgia, Florida, North Carolina and South Carolina. As a result of the sale of Tidewater, there are no remaining portfolio companies in Linx Partners’ first fund.
Refinancing of ADS Logistics Company, Inc.
Linx Partners, LLC announced the refinancing of ADS Logistics Company, Inc., repaying all $7 million of subordinated notes. ADS Logistics is a provider of trucking, warehouse and intermodal logistics services to the metals industry.