WhiteHawk Partners Establishes Credit Facility for Transport Growth

WhiteHawk Capital Partners Initiates Credit Facility

WhiteHawk Capital Partners, LP, a private credit investment manager, has successfully entered an agreement with West Side Transport, Inc. to provide a comprehensive senior secured first lien credit facility amounting to $111 million. This strategic financial move is designed to bolster the ongoing operations and expansion efforts of West Side and support EVO Transportation & Energy's acquisition of the company.

The Role of West Side Transport in the Logistics Industry

West Side Transport, with its roots dating back to 1968, operates out of Cedar Rapids, Iowa. The company has established itself as a key player in the transportation and logistics sector, specializing in short-haul van truckloads. The acquisition by EVO Transportation & Energy, based in Phoenix, is anticipated to significantly improve operational efficiencies and enhance market positioning for this combined entity.

Strategic Partnerships in Transportation

In addition to WhiteHawk's involvement, Antara Capital LP, a seasoned equity investor in EVO, has played a critical role in financing the acquisition. By providing an equity contribution in conjunction with the credit facility proceeds, Antara ensures that West Side has the necessary financial backing to thrive under this new partnership.

Statements from Company Leaders

Leaders from both West Side and EVO have shared their enthusiasm regarding this collaboration. Ron Joseph, President of West Side Transport, expressed excitement about the partnership with EVO, highlighting the complementary strengths that will foster growth and mutual success. Similarly, Michael Bayles, CEO of EVO, acknowledged the invaluable support from WhiteHawk and emphasized the potential for accelerated growth as they integrate West Side into the EVO family.

WhiteHawk Capital Partners: Driving Growth in Logistics

WhiteHawk Capital Partners is committed to delivering innovative financing solutions tailored for middle-market private and public companies across various industries. The firm specializes in secured financing options aimed at refinancing, recapitalization, and growth initiatives, among others. This focused approach allows companies like West Side Transport to secure the funding needed for expansion and sustainability.

About WhiteHawk Capital Partners

As a dedicated private credit manager, WhiteHawk Capital is focused on providing asset-based financing solutions. The firm's extensive industry experience positions it uniquely to offer diverse financing structures necessary for the evolving needs of its clients.

Understanding West Side Transport's Operations

West Side Transport features a sizeable fleet, including more than 500 tractors and 2000 trailers, which reinforces its ability to manage short-haul operations efficiently. This vast infrastructure enables the company to meet the logistics demands of a diverse clientele, ensuring timely and reliable service.

EVO Transportation: A Leading Player in the Sector

EVO Transportation & Energy Services stands out in the logistics landscape, primarily due to its strong association with the United States Postal Service, whereby it serves as one of the largest ground transportation providers. Its commitment to quality service has helped establish a solid foundation for continued growth and opportunities in an evolving market.

The Future of Combined Operations

As West Side Transport integrates into EVO, both companies can leverage their strengths to tap into new market opportunities. Leaders believe that the combined workforce and resources will enhance service delivery and customer satisfaction, paving the way for increased operational success.

Frequently Asked Questions

What is the purpose of the $111 million credit facility?

The credit facility is designed to support EVO Transportation's acquisition of West Side Transport and provide essential working capital for its operations.

Who is WhiteHawk Capital Partners?

WhiteHawk Capital Partners, LP is a private credit manager that provides asset-based financing solutions tailored for middle-market companies.

What services does West Side Transport provide?

West Side Transport specializes in short-haul van truckloads, offering logistics solutions across various sectors.

How does EVO Transportation benefit from acquiring West Side?

The acquisition is expected to enhance operational efficiencies and improve market positioning, allowing EVO to expand its service offerings.

What is the history of West Side Transport?

Founded in 1968, West Side Transport has grown to become a significant player in the transportation and logistics industry, headquartered in Cedar Rapids, Iowa.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

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