Integrated Distribution and Logistics Direct, LLC, dba SP Express, a Third-Party Logistics service provider, sought to divest TMP Direct, LLC, a value-add customer contact center. For over 26 years, TMP Direct has assisted clients with acquiring and retaining customers through its fully integrated solutions. Located in New Jersey, TMP Direct and its team act as an extension to their clients’ team, building relationships with client customers and prospects across a broad set of industries, and with a differentiated focus on high-touch, top tier brands.
SP Express is jointly owned by management and Cadre Partners, a management advisory and investment firm based in Arizona. Management completed a strategic assessment in the summer of 2016 and decided to divest the non-core business and focus solely on its core eCommerce and Third-Party Logistics offerings.
G2 Capital Advisors was engaged by SP Express to run a targeted, highly involved sales process to a select set of strategic and financial buyers. G2 worked closely with TMP Direct’s existing management team, SP Express, and prospective buyers to structure and execute the carve-out transaction in an efficient and expedited manner.
The transaction was successfully consummated through a sale to Vertex Altruist Group Co., a leading, privately held Business Process Outsourcing, Customer Management Outsourcing and IT Services company based in India, with over 12,000 employees and 12 office locations.
“We selected G2 based upon their demonstrated ability and track record in successfully and efficiently completing highly complex and structured transactions within our industry. G2 delivered on all counts as we successfully and quickly completed a complex transaction under stringent time constraints and diverse management and ownership challenges. I have the upmost respect and admiration for the G2 team and highly recommend them to others that may be considering strategic options and alternatives,” said Mich Bayley, CEO of SP Express.
“We are excited with the successful outcome of the transaction for the SP Express and TMP Direct team. TMP Direct will serve as a strategic foothold in North America for Vertex Altruist Group and a platform for immediate growth. We look forward to watching the combined companies achieve much future success,” said Matt Konkle, Managing Director and Practice Leader of the Technology and Business Services Group at G2 Capital Advisors.
CONTACTS ON THIS DEAL:
Jeffrey Unger, Chairman & CEO: T: 617.918.7929 E: firstname.lastname@example.org
Matt Konkle, Managing Director, Tech & Business Services: T: 857.310.5554 E: email@example.com
Victoria Arrigoni, Director: T: 617.918.7934 E: firstname.lastname@example.org