Transportation & Logistics

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Global supply chain challenges, including port congestion, capacity shortages, increasing ocean rates and ongoing pandemic-related disruptions continue to impact shippers. In response, providers are seeking to strengthen their customer focus by providing a more integrated distribution network, while also increasing their share of customers’ transportation spend across the supply chain. 

Submit the form below to view G2’s Transportation & Logistics industry update for Q1 2022, providing commentary and analysis on M&A and market trends within the sector.

Transportation & Logistics Q2 2022 Market Update

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CLIENT
Founded in 1987 by Monte and Debra O’Hara, Capital Express, Inc. (“Capital Express” or the “Company”), is a leading provider of final mile and courier services.  The Company is headquartered in Omaha, Nebraska providing services across the Midwest region.  Capital Express has a premier customer base shipping products across resilient end markets that include healthcare / pharmaceutical, office supplies, e-commerce and other products that fit nicely into its conjunctive network.

SITUATION
After building the Company for over 35 years, developing significant density across nine states, and navigating recent headwinds of the COVID-19 environment, Monte and Debra felt it was time to evaluate strategic alternatives which included finding a partner to accelerate the execution of future growth initiatives.  

ENGAGEMENT
G2 Capital Advisors, LLC (“G2”) was engaged by Capital Express as the exclusive sell-side advisor to lead a highly targeted and efficient sale process focused on identifying a partner to recapitalize the business.   

OUTCOME
The transaction was successfully executed through a majority recapitalization of Capital Express by funds affiliated with Red Dog Equity LLC (“Red Dog”).  A combination of Capital Express and ADL Delivery will serve as Red Dog’s foundational platform investment in the final mile and courier segment operating across 45 locations in 15 states.  

Monte O’Hara, Founder and Chief Executive Officer of Capital Express said “I have spent my entire life building this business with the help of a fantastic management team who supported the execution of our strategic objectives and all of the great employees that have supported our network.  G2 had a clear vision of how to maximize optionality and find the optimal partner for Capital Express.  They were methodical with their approach and made sure that my team and I understood their rationale behind key strategies.  G2 brought a number of highly qualified partners to the table, and we are thrilled to partner with Red Dog and look forward to the acceleration, growth and development of Capital Express.” 

“Capital Express was built from the sheer grit and determination of Monte O’Hara, his amazing management team and dedicated employees.  We are grateful to be a small part of the Company’s journey which started with deliveries in one local market and has become a leading regional courier across nine states.  We are extremely proud of Monte and believe he has found a tremendous partner in Red Dog who embodies his values.  We are excited to track their progress and know there will be tremendous success in their collective futures.” said Christopher Casteleyn, G2 Managing Director of Transportation and Logistics.

About Capital Express, Inc.

Capital Express is a privately held provider of customized, final mile logistics services throughout the Central U.S.  The Company utilizes an asset-light platform with more than 25 locations across nine states to deliver healthcare, office supplies, e-commerce, and other product types to blue-chip clients.  www.capitalexpress.biz  

About Red Dog Equity LLC

Red Dog Equity LLC is a private equity firm that invests in lower middle-market companies poised for strong growth in partnership with driven, entrepreneurial business leaders (“Red Dogs”).  To learn more, please visit  www.reddogequity.com  

About G2 Capital Advisors, LLC
G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:

Chris Casteleyn: Managing Director, T&L: T: 415.531.3138 E: [email protected]

Ben Wright: Chief Operating Officer, T: 619.972.3586 E: [email protected]

Tess Sheidy: Senior Associate, T: 248.767.1283 E: [email protected]

Matt Ball: Senior Associate, T: 978.914.4421 E: [email protected]

Noah Johnson: Senior Analyst, T: 717.598.8558 E: [email protected]

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CLIENT:
Founded in 1928, MTC Logistics (“MTC” or the “Company”), a wholly owned subsidiary of Hoffberger Holdings, Inc. (“HHI”), is a diversified privately held investment company of the Hoffberger family out of Baltimore, MD. MTC is a fifth-generation family business and is recognized as one of the International Association of Refrigerated Warehouses (IARW) North American Top 25 Operations. The Company provides warehousing services including import/export services, repacking, blast freezing, transportation and rail transload services through an operational footprint that includes four distribution centers with more than 38 million cubic feet (over 113,000 pallet positions) of refrigerated and frozen warehouse capacity, serving the ports of Baltimore, MD, Philadelphia, PA, Wilmington, DE, and Mobile, AL. 

SITUATION:After successfully navigating headwinds of the COVID-19 environment, generating strong business momentum, and completing construction of a brand-new operation in Mobile, Alabama, the Company’s stakeholders received interest from a key strategic player. This opportunity would allow HHI to realize its investment and enable management to accelerate the execution of future strategic growth initiatives.  

ENGAGEMENT:
G2 Capital Advisors, LLC (“G2”) was engaged by MTC Logistics as exclusive sell-side advisor. G2 lead a strategic and efficient sell-side transaction process focused on validating the potential interest, managing a fast-pace due diligence process, and closing the transaction under an expedited timeline.

OUTCOME:
The transaction was successfully executed through a sale to Lineage Logistics Holdings, LLC (“Lineage”), the world’s largest and most innovative temperature-controlled industrial REIT, and a portfolio company of Bay Grove. MTC will operate as part of Lineage’s existing footprint of over 400 strategically located facilities totaling more than 2 billion cubic feet of capacity across 19 countries. Accordingly, its customers and associates will benefit from Lineage’s scale, industry-leading technology, values, and customer-centric approach.  

“G2 evaluated key strategic alternatives relative to current market conditions which helped us to determine our strategy. They were instrumental in supporting a sale process, navigating our team through a highly complex process, and exceeding our expectations as to their level of support and expertise. We couldn’t be happier with the selection of Lineage as MTC’s new partner who shares our values and customer-centric approach,” said Harry Halpert, Chairman of MTC Logistics and CEO of Hoffberger Holdings.  

“With Lineage’s partnership, MTC is primed to continue an exciting growth trajectory thanks to the Company’s best-in-class services, strategic presence at key East Coast and Gulf ports, along with its dedication to partnerships with its customers. We are eager to see what opportunities the Lineage-MTC combination will unlock. It was an honor and privilege to represent a business with nearly a century-long family legacy of delivering significant value to the temperature-controlled segment. This transaction is a terrific example of G2’s strategy of partnering with market-leading organizations within our dedicated industry verticals.” said Christopher Casteleyn, Managing Director of Transportation & Logistics at G2 Capital Advisors.  

ABOUT MTC LOGISTICS:
MTC Logistics is a wholly owned subsidiary of Hoffberger Holdings, Inc. (“HHI”) a diversified privately held investment company of the Hoffberger family of Baltimore, MD. MTC Logistics operates four distribution centers with more than 38 million cubic feet of refrigerated and frozen space, serving the ports of Baltimore, MD, Philadelphia, PA, Wilmington, DE, and Mobile, AL. 

ABOUT LINEAGE LOGISTICS:
Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 19 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com) 

CONTACTS ON THIS DEAL:

Chris Casteleyn – MD, Transportation & Logistics: T: 415.531.3138 E: [email protected]
Connor Grogan – Vice President: T: 860.707.5754 E: [email protected]
 MEDIA RELATIONS:

Jennifer Johnson, Vice President, Marketing T: 978.204.8050 E: [email protected]
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CLIENT:

Direct Connect Logistix (“DCL” or the “Company”) is a leading, non-asset based, multi-modal, third-party logistics company providing transportation solutions for customers of all sizes. Since its founding in 2009, DCL has developed expertise in the temperature-controlled, time and condition critical truckload segment serving the food, grocery, beverage, and related industries. 

DCL’s unique HUSTLE culture has fueled its growth by defining how the company serves its customers, carriers, investors, employees, and the community at large by providing high performance logistics management solutions that enable sustainable, responsive, and efficient customer supply chains. For more information, please visit: www.dclogistix.com.

SITUATION:                                                                                                

DCL’s management team established a growth strategy focused on the acquisition of complimentary partners who provide talent and expertise in specialty markets.  DCL is focused on four core criteria to evaluate acquisition opportunities: (a) service capabilities which overlap DCL’s core operations; (b) skills or technologies that provide capability outside of DCL’s internal skillset; (c) exploit industry specific scalability; and (d) attract growth-oriented business owners that are seeking to partner with a larger organization.     

ENGAGEMENT:

G2 Capital Advisors, LLC (“G2”) was engaged by DCL as the exclusive buy-side advisor to identify, source and engage with targets that provide transportation and logistics services supporting food, beverage, and grocery market sectors and fit with the Company’s asset light acquisition profile.     

OUTCOME

The transaction was successfully executed on February 17, 2022, through an acquisition of Performance Logistics (“PL”) by DCL.  The combination of Performance Logistics’ refrigerated and frozen food transportation services and large customers in the Mountain West strengthens DCL’s capabilities, customer base and geographic reach.

“G2 identified and sourced a target that was not only a perfect fit but also met all four of DCL’s acquisition criteria.  G2 formed a unique relationship with the target’s ownership, who, at the time of initial engagement, were not seeking a transaction. Through the establishment of genuine trust and deep credibility, the target moved forward with discussions.  “We couldn’t be happier to partner with Performance Logistics. We believe that both companies will benefit as we continue to execute our strategic growth plan. ,” said Richard Piontek, CEO of DCL.

“Performance Logistics fits perfectly into DCL’s unique HUSTLE culture which made the business combination a logical fit.  Given PL’s location in the Mountain West region and deep expertise in refrigerated and frozen food capabilities, the groups will be able to attract talent in a dynamic, growing city and generate a transformative growth curve”, said Christopher Casteleyn, G2’s Managing Director for Transportation & Logistics. “Our team thoroughly enjoyed working with both groups and we look forward to observing the success of what we feel will be a highly accretive acquisition.”   

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:

Chris Casteleyn: Managing Director, T&L: T: 415.531.3138 E: [email protected]

Andrew Keleher: Director, T: 860.748.6480 E: [email protected]

Matt Ball: Sr. Associate: T: 978.914.4421 E: [email protected]

Noah Johnson: Sr. Analyst: T: 717.598.8558 E: [email protected]

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A capacity crunch amidst high demand

A capacity crunch throughout the transportation, logistics and warehousing sectors continued through the end of 2021. Shifts in consumer spending, tight capacity, supply shortages and ongoing coronavirus threats have impacted how shippers and carriers do business. 

Demand for goods and materials continues to outpace the supply needed to produce and transport goods from points of production to consumption.  U.S. consumers have shifted their consumption habits from services to durables, driven by the pandemic and more time spent at home. Closely related is the trend toward faster and more frequent deliveries, which continues to spur growth in final mile. 

We’ve highlighted some of the key themes that impacted the transportation & logistics industry in 2021 and where shippers and carriers have focused their efforts to combat the supply chain challenges and capitalize on the heightened demand. 

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G2 Capital Advisors (“G2”), a leading full-service financial advisory firm, is pleased to announce the promotion of Christopher Casteleyn to Managing Director. Since joining G2 in 2016 as a Vice President, Casteleyn has been instrumental in the growth of the platform bringing significant experience, dedication, and continued leadership to the firm.

During his 20-year career as an investment banker and advisor within the Transportation & Logistics space, Chris has advised business owners, shareholders, and C-level executives across every aspect of growth and value realization through mergers, acquisitions, divestiture transactions, as well as strategic assessments. His contributions have been vital to cultivating the success of our firm.

“We are thrilled to announce Chris as our newest Managing Director on the G2 team,” said Matt Konkle, President of G2 Capital Advisors. “He has worked tirelessly to scale the Transportation & Logistics practice, deliver for our clients, collaborate across the business, as well as attract, grow and develop our investment banking team. This promotion exemplifies G2’s commitment to growth and exceptional leadership positioning us to best serve our client’s needs. I look forward to watching Chris continue to grow and succeed on the G2 platform as he embarks on this next chapter with the firm.”

G2’s Transportation & Logistics practice supports founder/entrepreneur owned and private equity clients adapting to the ever-changing markets and industry dynamics. Our practice focuses on five core sub-sectors: final mile delivery, warehousing & fulfillment, freight brokerage, domestic transportation, and international logistics. Our clients benefit from leveraging G2’s C-level operational experience, market intelligence, and comprehensive understanding of our core industries in the pursuit of long-term growth & maximizing value.

Christopher holds a Masters in Business Administration from the University of Wisconsin-Madison with a specialization in Corporate Finance and Investment Banking. He graduated from the University of San Diego with a Bachelor’s Degree in Accounting as well as earning the Certified Public Accountant designation.

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G2 Capital Advisors announced today that Matt Konkle has been appointed President of the firm. Formerly Senior Managing Director and Head of Industry Teams at G2, Matt is an accomplished C-Level executive and operator with 25 years of experience in the Technology and E-commerce services industry. Matt possesses a deep background leading complex advisory transactions in the middle market. In his role as President, Matt will lead the day-to-day aspects of G2 as well as provide oversight to the firm’s business sectors in developing and executing against its short and long-term strategies.

“With the explosive and sustained growth of the firm, it is the right moment for us to continue to invest in our organizational leadership. Matt has the vision, leadership, and expertise to support the changing and growing needs of our organization as G2 continues to scale and drive towards our long-term strategic objectives,” says Founder & Chief Executive Officer Jeffrey Unger.  “Matt’s unique understanding of our clients from entrepreneurs to institutional investors and their respective requirements makes him the ideal leader to complement our management team. We are making this organizational change to support the next stage of our growth, amidst significant firm-wide momentum as we charge through the second half of this year. Matt will be working very closely with our entire leadership team to leverage its collective experience, market and industry knowledge and operational expertise to position G2 to achieve, if not exceed, the objectives set for growth.”

“I am honored and excited to take on the role as President of the G2 team. It’s a privilege to be a part of a tremendously strong company poised for continued growth. We have an extremely talented, diverse and accomplished team who are deeply committed to achieving success for our clients. Now is the time to focus on how G2 can evolve holistically to support overall firm growth.” says Konkle. “This is a pivotal moment for G2 to build on the impressive momentum we have accomplished, the collaborative relationships we have with our clients, and the organizational culture and go-to-market strategy established by our CEO and founder, Jeffrey Unger. I have worked beside Jeffrey for the last six years and personally understand the significance of his contributions. His dedicated leadership and passion provide an example for us all, and I look forward to partnering together as we leverage the knowledge and expertise across the organization to unlock G2’s growth potential.”

Before joining G2, Matt was President of Fifth Gear, a tech-enabled services company and provider of end-to-end e-commerce solutions, including order management, fulfillment, customer care, and freight management. Matt led Fifth Gear from inception, including developing the company’s product and service offerings and go-to-market strategy. Matt partnered with G2 on buy-side, financial advisory, and sell-side mandates as part of Fifth Gear’s growth strategy. In 2014, Matt and G2 completed a strategic sale of the business to Speed Commerce (NASDAQ: SPDC). As the Chief Operating Officer of Speed Commerce, Matt was responsible for a team of over 1,500 employees serving over 30 retail and consumer brands. In his previous role at G2 as Head of Industry Teams, Matt was focused on maximizing the value of firm’s industry-specific, operations-centric approach in the middle market. Through that work, Matt has developed a deep understanding of the support required for a high-growth organization like G2. He has had a direct impact on the firm’s agile approach to accommodating the evolving needs of its clients. 

Matt holds a Bachelor of Science in Business Administration from the Indiana University Kelley School of Business and a Master’s in Business Administration from the University of Chicago Booth School of Business.

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CLIENT

Granite Bridge Partners’ (“Granite Bridge”) portfolio company The InterMed Group (“InterMed” or the “Company”) is a premier provider of integrated health technology management services, offering a broad range of services to healthcare providers including inspection, preventative maintenance, corrective repair, logistics planning, and consulting. As an OEM-agnostic provider of medical equipment management solutions covering all modalities including Nuclear Medicine, Ultrasound, X-Ray, CT, MRI, DR, CR and various lab equipment, InterMed allows its clients to use a single provider for multi-modality needs instead of multiple contracts with OEMs or redundant staffing. The Company strives to enhance overall program quality, cost, and timeliness, by tailoring its services to the needs of their clients, with the speed and creativity of a smaller player, but with the professional coverage of a much larger provider.

SITUATION

Long-term industry stalwart, InterMed, joined forces with financial partner, Granite Bridge (formerly Wafra Partners) in 2015. Under the leadership of Rick Staab, InterMed established its reputation as a premium service provider and experienced strong organic growth. Following its partnership with Granite Bridge, Rick and his management team were looking to further enhance their growth through a targeted M&A strategy to deepen their service and product offerings, acquire new customers, and expand geographically into new U.S. markets.

ENGAGEMENT

The Company engaged G2 Capital Advisors, LLC (“G2”) as its exclusive buy-side advisor, leading a tailored buy-side effort focused on engaging with companies that have strong reputations for medical management and maintenance solutions across all modalities.

OUTCOME

G2’s search led to the acquisition of Modern Biomedical & Imaging, Inc. (“Modern”) which added a new location, additional capabilities, and a strong brand in the market. InterMed acquired Modern, an independent provider of equipment maintenance services to healthcare facilities in the southern region of the United States. Together these organizations will leverage their newly combined talent, service offerings and geographic footprint to deliver a more integrated solution of equipment management services to healthcare systems across the US. Rick Staab, CEO of The InterMed Group, commented “We are very excited about entering the growing Texas market and I feel that the acquisition of Modern Biomedical was the best platform for our organization as we grow throughout the southern region. We look forward to bringing together our corporate cultures and cross-selling premier equipment management services within our combined network of nationwide healthcare systems. Throughout the process, G2 has been instrumental in sourcing this acquisition candidate and supporting the transaction process as our trusted buy side advisor. G2 ran a robust and efficient process that resulted in finding a new partner in Modern Biomedical that we are thrilled to welcome to The InterMed Group family.”

“The InterMed Group will significantly benefit from its partnership with Modern Biomedical. Both organizations have excellent reputations and service minded cultures that are well known in the marketplace,” said Andrew Keleher, Vice President at G2 Capital Advisors.

About The InterMed Group:

As a premier provider of integrated health technology management services, InterMed offers an array of Health Technology Management options to its clients. From comprehensive equipment planning and administration to strategic coverage of key divisions or modalities in support of in-house, OEM, or hybrid solutions, InterMed strives to enhance overall program quality, cost, timeliness, and client confidence, by tailoring its services to the needs of their clients. InterMed’s unique Jump Team™ solutions provide skilled engineers for a wide variety of project needs. Jump Team™ services include credentialed temporary staffing, special projects, routine and project-driven PMs, compliance preparation, physical inventories, and cybersecurity assessments. InterMed also sells and services used, reconditioned, and new imaging equipment from select OEMs. (www.intermed1.com)

About Modern Biomedical & Imaging, Inc.:

Modern Biomedical & Imaging is a premier national independent provider of Healthcare Technology Management, offering comprehensive on-site medical equipment services to virtually every type of healthcare facility in several states across the country. Modern offers a fully comprehensive asset management program customized to best suit their clients’ operational and financial HTM needs. Headquartered in Irving, TX, the Company, via its top-notch services and reputation and through its contractual arrangements, has experienced steady growth by serving a well-diversified array of healthcare facilities, including hospitals, medical centers, outpatient surgery centers, clinics, and doctor offices. (https://www.modernbiomedical.com)

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

Securities offered through Hollister Associates, LLC. Member FINRA, SIPC. G2 Capital Advisors, LLC and Hollister Associates, LLC are separate and unaffiliated entities. This does not constitute an offer to buy or sell securities.

CONTACTS ON THIS DEAL:

Peter Reed, Director, Buy-side: T: 617.918.7972 E: [email protected]
Andrew Keleher, Vice President: T: 860.748.6480 E: [email protected]

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CLIENT:
Go2 Logistics Holding Corporation (“Go2” or the “Company”) is a leading provider of integrated supply chain solutions to a variety of end markets across the U.S. The Company offers asset-based and non-asset capabilities that include temperature-controlled and dry van less-than-truckload and truckload services, freight brokerage services and warehousing and distribution services. Go2 is headquartered in Chicago, Illinois and has four other cross dock locations across the United States.

SITUATION:
Go2 Logistics Holding Corporation was founded by Tomasz and Grzegorz Rzedzian. In 2015, the Rzedzian brothers recapitalized the business with HCI Equity Partners (“HCI”) which at the time was the first institutional investment received. Throughout the five-year partnership with HCI, Go2 expanded service capabilities, drove operational efficiencies, and generated significant earnings growth. The stakeholders sought to find a new partner to recapitalize the business and allow HCI to realize their investment.

ENGAGEMENT:
G2 Capital Advisors, LLC (“G2”) was engaged by Go2 Logistics Holding Corporation as the exclusive financial advisor to lead a highly targeted and efficient sale process to find new debt or equity partners to recapitalize the business.

OUTCOME:
The transaction was successfully executed on May 3, 2021 through a majority recapitalization of Go2 Logistics Holding Corporation with funds affiliated with Stellex Capital Management (“Stellex”). Go2 will add to several platform investments that Stellex has made in the Transportation & Logistics segment.

Tomasz Rzedzian, Co-Founder and Co-President of Go2 said, “We had a tremendous run over the past five years with HCI Equity Partners and thank them for a successful partnership. G2 ran a robust and efficient process that resulted in finding a new partner in Stellex that we are thrilled to welcome to Go2. My brother and I were pleased with the level of service and expertise provided by G2 and could not be happier with the outcome and dedicated support provided by G2.”

“The Rzedzian brothers are excellent operators, and we were pleased to partner with them and continue their growth trajectory,” said Dan Dickinson, Managing Partner of HCI, “G2 did an excellent job throughout the process to lead us to a successful exit and we are thrilled with the final result.”

“It was an honor and pleasure to have had the opportunity to work with the Rzedzian brothers and HCI”, said Chris Casteleyn, G2’s Director – Transportation & Logistics. “Go2 is a highly differentiated transportation service provider that under Stellex’s ownership and guidance, should continue to generate industry leading margins and distinguish itself as a premium LTL carrier. We are excited to monitor the progress and status of key growth initiatives that underpin the strategy that management and Stellex have developed.”

About Go2 Logistics Holding Corporation
Go2 Logistics Holding Corporation is a value-added logistics supplier focused on custom consolidation, partial truckload, and expedited solutions. Specific services include asset-based less-than-truckload and truckload services, freight brokerage services supporting a variety of modes and end markets and temperature-controlled warehouse and distribution services.

About HCI Equity Partners
HCI Equity Partner is a lower middle market private equity firm focused on partnering with family and founder owned distribution, manufacturing, and service companies. HCI makes majority investments in businesses within North American in large, fragmented markets. For more information, please visit our website at www.hciquity.com.

About G2 Capital Advisors:
G2 Capital Advisors provides M&A, capital markets, and restructuring advisory services to the middle market. G2 offers integrated, multi-product, and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. G2 aspires to be the trusted advisor of choice to its clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:
Chris Casteleyn, Director – Transportation & Logistics: T: 415.531.3138 E: [email protected]

Chris Hughes, Managing Director – Transportation & Logistics: T: 404.395.6889 E: [email protected]

Ben Wright, Chief Operating Officer: T: 619.972.3586 E: [email protected]

Peter Reed, Director: T: 617.366.9254 E: [email protected]

Tess Sheidy, Associate: T: 248.767.1283 E: [email protected]

Ted Malpiede, Senior Analyst: T: 781.752.6001 E: [email protected]

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G2 Capital Advisors is pleased to present its Transportation & Logistics industry updates for Q1 2021, providing commentary and analysis on M&A and market trends within the sectors. We hope these reports find you and your families safe and healthy, and encourage you to contact us directly if you would like to discuss our perspective on the current market environment, trends, or our relevant industry experience.