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.
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]
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]
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.
G2 Capital Advisors is pleased to present its Transportation & Logistics industry updates for Q4 2020, 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.
CLIENT:
Dupré Logistics LLC (“Dupré” or the “Company”) is leading provider of transportation and logistics services in markets such as energy, chemical and other specialty segments. The Company offers key services that include energy distribution services, dedicated truck transportation, site logistics and freight brokerage. Dupré, headquartered in Lafayette, Louisiana, operates approximately 750 trucks, employs more than 1,000 professional drivers and has an established network of 10,000 preferred carriers for its asset-light operation.
SITUATION:
Dupré established aggressive growth objectives which included doubling the size of the asset-light business. In order to accomplish these goals, the Company developed an acquisition strategy to identify talent and expertise in specialty markets that enhance its asset-light operation. Four specific criteria were used to evaluate acquisition opportunities: (a) ability to improve performance in the target; (b) acquire skills or technologies more quickly than building the capability internally; (c) exploit industry specific scalability; and (d) assist owners earlier in their cycle to develop their business.
ENGAGEMENT:
G2 Capital Advisors, LLC (“G2”) was engaged by Dupré as the exclusive buy-side advisor to identify, source and engage with targets that provide specialty freight brokerage services and fit with the Company’s asset light acquisition profile.
OUTCOME
The transaction was successfully executed on October 30, 2020 through an acquisition of MRB Enterprise Inc., d/b/a TTS Logistics (“TTS”) by Dupré. The acquisition provided additional scale to Dupré’s temperature-controlled freight brokerage operation and was the Company’s entry into the produce market, a segment that was identified as a core strategic growth area.
“Over the last year, I have gotten to know the G2 team. They have helped to guide our team through our first acquisition under the existing management team. They were extremely knowledgeable and hardworking, providing introductions to interesting acquisition candidates. During the transaction execution process, G2 made sure both parties were focused on critical issues to achieve a successful close of the transaction. We are thrilled to work with our new partner in TTS and believe that our shared vision will result in continued growth and exceptional customer service for our valued customers,” said Mike Weindel, President of Dupré Logistics.
The team at TTS is a perfect cultural fit with Dupré Logistics family. Both companies have similar values and approaches to providing transportation services. Furthermore, TTS will benefit from the additional investment that Dupré will complete to accelerate growth while TTS unlocks a core strategic capability in a high growth market.
“Dupré should benefit from the significant tailwinds surrounding temperature-controlled freight brokerage as consumers buy more perishable food items, international trade grows, and modern retail outlets expand, all contributing to rapid growth in the sector. TTS was exactly what Dupré identified as a perfect acquisition candidate with unique capabilities”, said Christopher Casteleyn, G2’s Director in Transportation & Logistics. “It was an honor and privilege to work with Dupré’s management team and we have no doubt this will be a highly accretive acquisition.”
About Dupré Logistics
Dupré Logistics is a privately held, asset-based provider of transportation and logistics services that include energy and chemical transport, dedicated truck transportation, site logistics, and freight brokerage. We specialize in tanker, hazmat, and petrochemical transportation and complex supply chain solutions in industrial and consumer products.
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: Director, T&L : T: 415.531.3138 E: [email protected]
Andrew Keleher: Vice President, T: 860.748.6480 E: [email protected]
Matt Ball: Associate: T: 978.914.4421 E: [email protected]
Ben Crawford: Research Analyst : T: 713.591.7301 E: [email protected]
G2 Capital Advisors is pleased to present its Transportation & Logistics industry updates for Q3 2020, 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.
CLIENT:
Roadrunner Transportation Systems, Inc. (Pink: RRTS) (“Roadrunner”) has transitioned from being a multi-modal transportation and logistics service provider to being a transportation service provider focused exclusivity on less-than-truckload services. The temperature controlled truckload division, RRTC Holding, Inc., d.b.a A&A Express, LLC (“RRTC Holdings” or the “Company”) is a leading provider of temperature-controlled transportation services of food and beverage products for retail and food service customers. The Company is headquartered in South Dakota and services a majority of the lower 48 states with greatest lane density across the Midwest and West regions.
SITUATION:
RRTC Holdings was developed through a rollup of four distinct acquisitions across the Midwest region. The four legal entities were consolidated into one operating company which operated as A&A Express, LLC. Roadrunner was seeking to sell RRTC Holdings as part of a multi-pronged reorganization strategy for Roadrunner to become a national carrier focused solely on providing less-than-truckload transportation services.
ENGAGEMENT:
G2 Capital Advisors, LLC (“G2”) was engaged by Roadrunner as the exclusive sell-side advisor to lead a highly targeted and efficient sale process to carve out Roadrunner’s temperature-controlled truckload segment.
OUTCOME
The transaction was successfully executed on July 30, 2020 through a sale of RRTC Holding to an affiliate of Laurel Oak Capital Partners (“Laurel Oak”). The acquisition was Laurel Oak’s platform investment in the cold chain logistics services and represents a unique opportunity to build upon a strong brand and experienced management team.
The President of A&A Express Tim Anderson said, “My experience in working with G2 throughout the sale process was second to none. They were extremely diligent, hard working and focused on achieving the best outcome for all parties involved. The A&A team is excited to work with our new partners at Laurel Oak who clearly share a common vision for continued growth and exceptional customer service execution for our valued customers.”
The Company is well positioned to benefit from the strong tailwinds that have accompanied the temperature controlled transportation segment and, given the solid economic resiliency it has demonstrated throughout the COVID-19 crisis, RRTC Holding will likely continue to play an integral role within the larger cold supply chain industry.
“The market conditions driven by COVID-19 provided unforeseen challenges that required us to find creative ways to drive the due diligence process forward. It was an honor and privilege to work with Roadrunner and A&A’s management on the highly strategic divestiture”, said Chris Hughes, G2’s Managing Director and Transportation & Logistics Practice Leader. “Rena Clark and Emanuel Slater at Laurel Oak were a pleasure to work with and we look forward to tracking their success investing in the cold chain logistics segment.”
About Roadrunner Transportation Systems:
Roadrunner Transportation Systems is a leading less-than-truckload provider offering high quality, reliable LTL services under the Roadrunner Freight® brand. Roadrunner’s “Ship It Like You Own It” commitment guides the company to provide unparalleled service and reliable LTL solutions for customers. With 31 service centers and strategic partnerships across the country, Roadrunner delivers expansive long haul, regional and next day service in all major US markets.
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 Western International Securities. Member FINRA, SIPC. G2 Securities and Western International Securities are separate and unaffiliated entities. This does not constitute an offer to buy or sell securities.
CONTACTS ON THIS DEAL:
Chris Hughes, MD, T&L Practice Leader : T: 404.395.6889 E: [email protected]
Chris Casteleyn: Director, T&L : T: 415.531.3138 E: [email protected]
Tess Sheidy: Associate, T&L : T: 248.767.1283 E: [email protected]
Peter Reed: Vice President : T: 617.366.9254 E: [email protected]
Ben Crawford: Research Analyst : T: 713.591.7301 E: [email protected]
Q2 2020 Transportation & Logistics Newsletter
G2 Capital Advisors is pleased to present its Transportation & Logistics industry updates for Q2 2020, 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.
CLIENT:
Strategic Delivery Solutions (“SDS Rx” or the “Company”) is a healthcare focused supply chain solutions provider focused on the long-term care (“LTC”) the pharmacy market, specializing in the movement of pharmaceuticals from wholesale distributors to pharmacies and hospitals and from LTC pharmacies to facilities and patients.
SITUATION:
Founded in 2009, SDS Rx was initially designed to target the pharmaceutical distribution sector and offer pharmaceutical distributors, pharmacies, labs and healthcare systems a combination of proven process, enhanced technology, and a local delivery network on a national scale. Building on that model, the Company has achieved consistent revenue growth, establishing a national footprint while setting the local benchmark for delivery accuracy and establishing itself as the undisputed thought leader in last mile healthcare delivery and logistics. With fresh capital through its financial partnership with HCI Equity Partners (“HCI”) in 2018, SDS Rx is now well positioned to accelerate its growth through a disciplined acquisition strategy and explore expansion opportunities into new healthcare markets.
ENGAGEMENT:
G2 Capital Advisors, LLC (“G2”) served as the buy-side advisor to SDS Rx with respect to the Medical Delivery Services (“MDS”) acquisition. After serving as the Company’s financial advisor with HCI’s recapitalization of the business in 2018, G2 was a natural fit to support additional acquisition search activities within the healthcare logistics marketplace.
OUTCOME:
Like SDS Rx, MDS has an attractive, non-asset based business model, leveraging a broad network of independent contractors to deliver its freight. The acquisition of MDS brings SDS Rx into new geographies, builds density in existing geographies, and provides access to a new healthcare end market in radiopharmaceuticals.
CEO of SDS Rx, Drew Kronick said, “This acquisition is a perfect fit as we execute on our strategic growth initiative to grow complementary segments of the healthcare market. The radiopharmaceutical market is a large unique market that requires years of experience to service. MDS brings the people, the experience and the reputation which will allow us to continue to grow our market share in this important segment.”
Managing Partner of HCI, Doug McCormick said, “G2 brought invaluable industry connections and expertise that was critical to identifying the opportunity and achieving a successful outcome. We look forward to partnering with G2 to continue to execute on highly strategic M&A opportunities.”
“We are very excited for the future of MDS, as SDS Rx represents a unique acquirer, able to invest significantly in the organization and drive sustained long term growth” said Ben Wright, COO of G2. “We see significant opportunity for additional partnerships between SDS Rx and pharmaceutical logistics companies across the US.”
About G2 Capital Advisors (www.g2cap.com)
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.
About HCI Equity Partners
HCI Equity Partners (“HCI”) is a lower middle market private equity firm focused on partnering with family and founder owned manufacturing, service and distribution companies. HCI focuses on building solid partnerships with company owners and management teams to develop and execute their growth strategies.
About SDS-Rx
SDS Rx provides dedicated, flexible delivery solutions nationwide to long term care, specialty, infusion, as well as pharmaceutical distributors, labs and healthcare networks. Our industry-leading technology is seamlessly integrated with each unique customer in order to ensure compliance, accuracy, accountability and transparency.
About Medical Delivery Services
MDS was established in 1977 to services the radiopharmaceutical industry. Through superior Commitment, Service and Compliance, MDS is a nationwide specialized carrier for the legal and safe transport of radiopharmaceuticals for all major Nuclear Medicine manufacturers and shippers.
CONTACTS ON THIS DEAL:
Ben Wright, COO: T: 415.800.1258 E: [email protected]
Peter Reed, Vice President of Buy-side T: 617.918.7972 E: [email protected]
Andrew Keleher, Vice President: T: 617.918.7982 E: [email protected]
Matthew Ball, Associate: T: 617.918.7933 E: [email protected]
Media Relations Inquiries:
Jennifer Johnson, Vice President, Marketing
T: 978.204.8050 E: [email protected]