Pittsburgh, Pennsylvania -
Tecum Capital Partners (“Tecum”) is pleased to announce its new investment in BP Express LLC (“BP Express” or the “Company”). Tecum is partnering with C3 Capital Partners (“C3”), Laud Collier Capital Partners LLC (“LCC”), and the existing Management Team to support the future growth of BP Express.
Founded in 1995 and headquartered in Rockford, Tennessee, BP Express is a leading regional provider of port and inland drayage services to key Southeastern U.S. ports. BP Express is led by Scott Batey and Bill Hatfield who currently serve as CEO and CFO, respectively. Since acquiring the Company in 2006, Management has built a strong platform that has grown from four terminals and a fleet of less than 75 tractors to seven terminals and a fleet of over 300 tractors in operation.
“The entrepreneurial spirit of the Company’s leadership and supporting management team is reflected in all aspects of day-to-day operations” stated Colby Collier of LCC. “The Company has localized relationships at all of its terminals and works very closely with its clients to provide best-in-class drayage services,” Collier further stated.
Stephen Gurgovits, Jr., Managing Partner of Tecum added, “The value proposition of the last mile intermodal supply chain is truly unique. We are excited to be supporting a management team and Company that has built scale in this highly fragmented industry and has developed a proven growth model”. The intermodal market within the Southeastern footprint that BP Express operates within is experiencing substantial expansion as a result of organic population growth in the region, positive manufacturing trends, and a meaningful shift in intermodal container volumes resulting from the recent expansion of the Panama Canal. “It is unique for a Company to have the level of organic and strategic growth opportunities that BP Express has in the pipeline,” Pat Healy of C3 added.
“We are thrilled to count Tecum, C3 and LCC as additional partners in our business. Collectively, they bring a wealth of experience, operational resources, and ability to support BP Express’s culture of partnership and shared success” stated Scott Batey, CEO of BP Express.
About C3 Capital
C3 Capital is an experienced SBIC mezzanine lender with offices in Kansas City and Scottsdale. The firm currently manages three funds with combined assets in excess of $450 million and makes $3-15 million investments in the form of subordinated debt or preferred equity in established businesses with a history of profitability. Having closed over 80 investments since 2003, C3 provides expansion and acquisition capital to lower middle market companies across the United States, working closely with entrepreneurs as well as sponsors. The firm has a strong history as a trusted financial partner, working with owners to execute growth strategies and enhance enterprise value. For more information, please visit www.c3cap.com.
About Laud Collier Capital
LCC is a Short Hills, New Jersey based private equity and advisory firm focused on U.S. based middle market businesses generally with less than $10 million in EBITDA. LCC seeks to partner with exceptional management teams and develop solutions together with its investors that bring value to the opportunity beyond capital. For more information, visit LCC’s website at www.lccap.com.
Learn more about BP Express