RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Lazer Spot, Inc. (Lazer Spot), a portfolio company of Greenbriar Equity Group, LP (Greenbriar), on its sale to Harvest Partners, LP (Harvest Partners). Lazer Spot is a leading independent provider of comprehensive yard management services and solutions. The transaction was led by Jason Bass, Frank Mountcastle, Jeff Kidd, James O’Malley and Trey Balson of the Harris Williams Transportation & Logistics (T&L) Group and Liam Duffy of the firm’s Richmond office.
“It was a pleasure to work with the Lazer Spot management team and Greenbriar on this transaction,” said Frank Mountcastle, a managing director at Harris Williams. “Adam Newsome, CEO of Lazer Spot, and the rest of the management team have built the industry leader in the trailer spotting and yard management services sector. We are excited to see how they will continue to grow and evolve in partnership with Harvest over the coming years. The transaction adds to our firm’s successful track record of advising premier companies in the 3PL space.”
“As supply chains become increasingly complex, organizations are relying more than ever on specialized outsourced service providers in order to focus attention on core competencies,” said Jason Bass, a managing director at Harris Williams. “That’s making the 3PL sector an attractive space for investment, especially in top-quality assets like Lazer Spot.”
Lazer Spot is the largest independent provider of comprehensive yard management services and solutions in the U.S., managing the movement of trailers at more than 400 distribution centers and manufacturing facilities in the U.S. and Canada. The company serves a diverse customer base, including many of the world’s largest consumer products manufacturers, retail organizations and industrial companies. It is on the Transport Topics list of the Top 50 Logistics Companies in the U.S.
Founded in 1999, Greenbriar is a private equity firm with over $3.5 billion of committed capital focused on investing in market-leading manufacturing and services businesses in partnership with proven management teams. Greenbriar looks to identify companies capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s industry knowledge, operating capabilities, network of senior executive relationships, strategic insight and access to capital. Sectors of particular focus include aerospace and defense, industrial and business services, transportation and logistics, and specialty manufacturing.
Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle market companies in the business services and consumer; healthcare; industrial services; and manufacturing and distribution sectors. This strategy leverages Harvest Partners’ more than 35 years of experience in financing organic and acquisition-oriented growth companies.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams T&L Group serves companies in a broad range of attractive niches, including automotive and heavy duty vehicle; transportation equipment; 3PL; and truck, rail, marine and air transportation. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: firstname.lastname@example.org). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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Katie Langemeier, associate brand manager, +1 (804) 648-0072