including its operating division
has been acquired by
ABOUT THE COMPANY:
BeavEx Incorporated (“BeavEx”) is a provider of final mile and same-day transportation and logistics services in the US. BeavEx specializes in distribution for the financial services, e-commerce, pharmaceuticals, medical specimen, and automotive industries using a network of over 2,200 independent drivers, which collectively serve over 900 customers.
SITUATION:
BeavEx has had consistently poor financial results since its acquisition in 2011. The Company’s financial services business saw decline with advancements in check scanning technology – which reduced demand for printed checks transportation. Management sought to replace lost business with an asset-heavy operating model, but lacked the appropriate systems and processes to oversee the overhead efficiently and effectively.
ENGAGEMENT:
G2 was initially engaged to provide a restructuring assessment and overview of strategic alternatives for the Company. G2 provided an interim CFO early in the engagement -- who was later appointed as CRO. G2 was ultimately engaged as the exclusive Sell-Side Advisor to the Company and launched a high-touch sales process.
OUTCOME:
The sale process was effectuated through a Section 363 sale to TFI International, Inc. (“TFI”). TFI signed up to be the stalking horse in Chapter 11 and ultimately prevailed in the bankruptcy sale process.
MORE LIKE THIS
Exclusive Sell-Side Advisor
a leading provider of packaging solutions has been acquired by Berlin Packaging
Exclusive Sell-Side Advisor
a portfolio company of Sopris Capital has been acquired by InhabitIQ
Exclusive Sell-Side Advisor
a wholly owned subsidiary of Hoffberger Holdings, Inc., has been sold to Lineage Logistics, a portfolio company of Bay Grove
Exclusive Sell-Side Advisor
has been sold to Aceto, portfolio company of New Mountain Capital
Exclusive Sell-Side Advisor
a portfolio company of Baird Capital has been acquired by Alithya
Exclusive Sell-Side Advisor
a portfolio company of S3 Ventures has sold its video surveillance assets to Quantum
Exclusive Sell-Side Advisor
has sold Arbre Farms Corporation and Willow Cold Storage Corporation to Oregon Potato Company
Connect With Us.
