2010-01-11 | Author : B. Riley & Co., LLC
LOS ANGELES & NEWPORT BEACH, Calif. - (Business Wire) B. Riley & Co., LLC today announced that it has successfully represented Bullet Freight Systems, Inc. in its sale to a subsidiary of Roadrunner Transportation Services Holdings, Inc. (RRTS), a portfolio company of Thayer | Hidden Creek.
B. Riley’s Managing Director Andre D. Guardi and Senior Vice President Adam J. Little represented the seller in the transaction. The terms of the deal were undisclosed.
B. Riley acted as exclusive financial advisor to Bullet and initiated, structured and negotiated the transaction on behalf of the Anaheim, California-based company. Bullet is a premium non-asset based transportation and logistics services provider offering a full range of solutions, including premium less-than-truckload (“LTL”) services through Bullet as well as truckload, intermodal and air freight services through its Caliber Logistics division. Bullet operates service centers in Los Angeles, Seattle, Chicago and Portland, OR.
RRTS is a leading non-asset based transportation and logistics services company offering customized and expedited LTL and truckload brokerage services in major freight lanes throughout the United States and Canada. Within its LTL business, RRTS operates 16 service centers throughout the United States. RRTS will retain Bullet’s premium LTL service offering.
“B. Riley is pleased to have successfully represented Bullet in both identifying a highly strategic acquirer and advising through the close,” said Guardi. “Our strength and position in the middle market has allowed us to successfully close a number of engagements despite a most difficult market.”
Messrs. Guardi and Little are members of B. Riley’s Corporate Finance Group, which provides investment banking services, including buy and sell side representation on mergers and acquisitions, initial and secondary public offerings, institutional private placements for public and private companies, fairness opinions, and valuations.
Since inception, B. Riley has completed 350 middle market engagements with more than $15 billion in aggregate transaction value.
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B. Riley & Co. is a leading independent investment bank which provides a full array of corporate finance, research, sales and trading services to corporate and institutional clients. Investment banking services include merger and acquisitions advisory to public and private middle market companies, initial and secondary public offerings and institutional private placements. The firm is recognized for its distinguished Equity and High Yield Research. Its Corporate Governance Advisory Services Group is engaged by both companies and investors to help maximize value for shareholders. Founded in 1997, the firm is headquartered in Los Angeles and maintains offices in Newport Beach, San Francisco, Philadelphia, and New York. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.