Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Kane Logistics (Kane), a portfolio company of Harkness Capital Partners (Harkness), on its sale to ID Logistics. Kane is a value-added warehouse and distribution services provider whose solutions include contract packaging and assembly, fulfillment, and dedicated transportation. The transaction was led by Frank Mountcastle and Jonathan Meredith of the Harris Williams Transportation & Logistics (T&L) Group.
“Kane is a value-added warehouse and distribution third-party logistics provider that offers a compelling suite of supply chain solutions to large and mid-market companies in food and beverage, consumer products, and health and beauty, enabling efficient and effective distribution of goods throughout the United States,” said Frank Mountcastle, a managing director at Harris Williams. “We are thrilled that Kane has found a great partner in ID Logistics that not only shares in management’s strategic vision but can also accelerate Kane’s initiatives in key growth areas.”
“It was a pleasure to work with Kane and Harkness on this transaction,” added Jonathan Meredith, a director at Harris Williams. “Kane is a great example of why we believe the value-added warehouse and distribution sector continues to present a compelling investment opportunity as supply chains continue to evolve and e-commerce trends persist.”
Kane was founded in 1930 and provides third-party logistics services, including value-added warehousing and distribution and transportation management. Kane was a family-owned business prior to the Harkness investment. The Harkness team brought more than 20 years of industry experience in the third-party logistics industry to this investment, making major improvements in conjunction with the Kane team in specific areas but highlighted by improvements in people, processes, and practices.
As a key player in the value-added warehouse and distribution industry, Kane helps their customers efficiently distribute products throughout the United States. Kane’s logistics solutions provide value and expertise in execution coupled with the transparency of tier-one technology. Kane’s service offerings include value-added warehousing and distribution, transportation capabilities, contract packaging, and cross docking. Kane brings a long-standing expertise and exceptional customer service approach to the outsourcing logistics cases which are embodied in the Kane Code, which reflects the heritage of uncompromising excellence and personal attention to operational teams.
Harkness is a U.S.-based private equity investment firm focused on investments in service-oriented companies. The firm was founded by a group of experienced operators and investors with a long history of working together and building business service companies. Harkness is dedicated to ‘transformational’ investing and building long-term value in its portfolio companies. Harkness works in partnership with talented business owners and managers seeking to grow their companies by investing capital and committing operating resources to support rapidly growing companies across a variety of segments within business and outsourced services. Harkness looks for companies with EBITDA between $5 million to $30 million in areas including logistics/distribution, environment/health/safety (EH&S), specialty rental/infrastructure services, outsourced services, and test/inspection/certification/compliance (TICC). The Harkness team of investment professionals and operating executives has diverse backgrounds as business founders, builders, and leaders in services businesses.
ID Logistics, managed by Eric Hémar, is an international contract logistics group, with revenue of €1.91 billion ($2.18 billion) in 2021. ID Logistics manages 350 sites across 17 countries, representing nearly 7 million square meters of warehousing facilities in Europe, America, Asia and Africa, with 25,000 employees. With a client portfolio balanced between retail, industry, detail picking, healthcare and e-commerce sectors, ID Logistics is characterized by offers involving a high level of technology. Developing a social and environmental approach through a number of original projects since its creation in 2001, the group is today resolutely committed to an ambitious CSR policy. ID Logistics is listed on Compartment A of Euronext’s regulated market in Paris (ISIN Code: FR0010929125, Ticker: IDL).
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.
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 8th Floor, 20 Farringdon Street, London EC4A 4AB, 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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