Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Pilot Freight Services (Pilot), a portfolio company of ATL Partners (ATL) and British Columbia Investment Management Corporation (BCI), on its pending sale to A.P. Moller – Maersk (Maersk). Pilot is a leading U.S.-based last mile, middle mile, and border crossing solutions provider, specializing in the big and bulky freight segment for B2C and B2B distribution models. The transaction is being led by Frank Mountcastle, Jason Bass, Jonathan Meredith, Trey Balson, Tom Dunne and Justin Icardo of the Harris Williams Transportation & Logistics (T&L) Group.
“Pilot is a truly unique platform delivering end-to-end, specialized transportation solutions to a global customer base and has built a best-in-class home delivery solution capitalizing on secular e-commerce trends,” said Frank Mountcastle, a managing director at Harris Williams. “We are excited to watch Pilot's continued growth as a part of Maersk over the coming years.”
“It was a pleasure to work with Pilot, ATL and BCI on this transaction. Their combined strategic vision has positioned Pilot as the premier provider of big and bulky freight solutions,” said Jason Bass, a managing director at Harris Williams.
“The Pilot transaction represents our latest in the highly attractive third-party logistics sector with market-leading platforms. As supply chains and macro trends continue to evolve, we expect to see sustained investor interest in the sector over the long term,” added Jonathan Meredith, a director at Harris Williams.
“Harris Williams’ expertise and deep understanding of Pilot’s business model enabled them to effectively communicate our story. They provided us with the support and strategic partnership we needed to achieve a successful outcome,” said Zach Pollock, CEO of Pilot.
Pilot is an award-winning full-service transportation and logistics provider with 87 locations throughout North America. Pilot also has several locations in Western Europe and a presence in the Asia-Pacific marketplace. The company’s freight forwarding services encompass every mode of transportation, including air, ground, and ocean, serving all corners of the globe. Pilot’s full mile and final mile home delivery solutions for heavy and hard to handle goods include value-added service offerings such as white glove, assembly and installation. Pilot’s logistics programs offer a complete line of expedited and time-definite services, international shipping solutions, product warehousing and inventory management.
Founded in 2014, ATL is a premier sector-focused private equity firm that invests in aerospace, transportation and logistics companies. ATL brings deep sector expertise to its investment approach with 10 investment professionals and seven Executive Board members who have decades of combined operating experience in each of ATL’s core sectors.
With C$199.6 billion of assets under management as of March 31, 2021, BCI is one of Canada’s largest institutional investors. Based in Victoria, British Columbia, BCI is a long-term investor that invests across a range of asset classes: fixed income; public equities; private equity; infrastructure; renewable resources; real estate; and commercial mortgages. BCI’s clients include public sector pension plans, insurance, and special purpose funds. BCI’s private equity program, with C$20.7 billion of assets under management, has a well-diversified portfolio comprised of direct and fund investments. The team brings industry expertise across financial and business services, healthcare, industrials, consumer, and TMT sectors.
Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As the global leader in shipping services, the company operates in 130 countries and employs around 95,000 people.
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 Transportation & Logistics Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), automotive and heavy-duty vehicle, transportation equipment, 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.
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