Cox Transportation Services, Inc.

CoxdoorCox Transportation Services, Inc.

F.N.B. Capital Partners, L.P. (“FNBCP”) provided mezzanine debt to facilitate a Management Buyout for Cox Transportation Services, Inc (“CTS”).  CTS is headquartered in Ashland, VA and specializes in transporting time-sensitive full truckload freight on a local, regional, and national basis for a variety of customers.  The Company also provides logistics optimization services and is one of the largest licensed property brokers in Virginia.  More information can be found by visiting the Company’s website at www.truckingforamerica.com.

 

F.N.B. Capital Partners Invests
With Management for Buyout of Cox Transportation Services

Pittsburgh, PA – September 22, 2014 – F.N.B. Capital Partners, L.P.  (“FNBCP”) announces a transaction with Cox Transportation Services, Inc (“CTS”).  FNBCP’s investment was used to facilitate a Management Buyout for the Ashland, VA based Company.  FNBCP is a $175 million fund, licensed as a Small Business Investment Company (SBIC) and managed by Tecum Capital Management, Inc.

“We are extremely excited to help support the growth and new ownership at CTS,” noted Stephen Gurgovits, Jr., Managing Partner for FNBCP.  “Backing Jay Smith and his team allowed for a smooth transition of ownership.  We expect Jay and the CTS team to capitalize on the increasing trucking demand in the United States through its carrier and logistical broker services”. 

Other parties involved in the transaction included Capital One Bank as the senior lender and Marriott & Co., which served as the financial advisor to the management team at CTS. In March 2017, FNBCP successfully exited completely via a recapitalization of the company.

 

Like ! Share with friends on the following networks

This Post Has 0 Comments

Leave A Reply

This web site and all of its contents are property of and copyright © 2013 of Tecum Capital Management, except any reference to F.N.B. Capital Corporation and the flag and hand shake design which are the protected, exclusive property of F.N.B. Corporation. All Rights Reserved.

Menu