WPL operates a network of 12 locations throughout the region with hubs in Salt Lake City, Denver, Boise, and Colorado Springs.  The Company’s freight, customer and network density in the Mountain West, as well as its dedication to the region, enables WPL to efficiently, and cost-effectively, serve both urban and rural areas with a high level of customer service.

Situation

WPL was formed by Banyan Ventures through the acquisition of Rev It Logistics with the strategy of building a regional logistics company to address the unique needs of the Mountain West.  The Company successfully executed a series of strategic acquisitions that expanded the Company’s network, service capabilities, and geographic footprint. WPL has become a dominant player in the Mountain West region, with significant density that allows the Company to service both rural and urban markets across eight states. WPL had reached an inflection point of growth with notable new customers and expansion into new end markets over the last year and has a strong pipeline that will continue to support future growth.

Engagement

G2 Capital Advisors, LLC (“G2”) was engaged by WPL as the exclusive sell-side advisor to lead a highly targeted sale process focused on identifying a knowledgeable partner with significant Transportation & Logistics experience to recapitalize the business and provide additional equity capital to accelerate growth.

Outcome

The transaction was successfully executed through a majority recapitalization by Argosy Private Equity(“Argosy”), a middle-market private equity firm focused on growth-oriented companies in the Transportation & Logistics, Niche manufacturing, Industrial Services and Aviation Service sectors.

Tyler Thatcher, Chief Executive Officer of WPL, said, “We’re extremely proud of what our team has built over the last 12+ years and are excited for the next chapter as we continue to expand our leading position in the Western U.S. G2’s expertise and dedication throughout the process ensured we found the right partner to support this next stage of growth. They demonstrated a clear command of the unique challenges faced in selling a final mile business and provided sound advice every step of the way.  We are excited about the future with Argosy and are confident that our business is positioned for continued success.”

“Tyler and the WPL team have built a differentiated final mile platform that provides premium customer service and a fantastic employee culture. It has been a privilege supporting WPL in this transaction, and we are thrilled that they have found a great partner in Argosy who shares management’s strategic vision and will accelerate future growth initiatives. We look forward to tracking their progress and continued success under the new partnership,” said Chris Casteleyn, Head of Transportation & Logistics at G2.