Wednesday, July 11, 2018

Walt’s Drive-A-Way Acquired by Warehouse Services, Inc.

Investment Banking
  • Industry: Transportation & Logistics
  • Hilliard Lyons Role: Buy-Side Advisor

About the Transaction

Hilliard Lyons Investment Banking was pleased to assist the executive management team of Warehouse Services, Inc. (“WSI”) with consummating its purchase of Walt’s Drive-A-Way Service, Inc. (“Walt’s”). WSI is headquartered in Piedmont, South Carolina, with its executive operating team based in Mount Vernon, Indiana. WSI is a leading provider of integrated, flexible supply-chain solutions, with over 19 million square feet of warehouse space and 28 base locations across its North American footprint.

Founded in 1972, Evansville-based Walt’s is a leading regional carrier, offering general freight, dedicated, intermodal, and drayage services. Walt’s St. Louis terminal facilitates intermodal goods transport to and from the Ohio Valley, including to West Coast rail connections.

Steve Magruder, WSI’s COO, stated, “We are excited about our investment in Walt’s Drive-A-Way. We look forward to working with Walt’s team to continue to grow their intermodal and logistics operations. Our investment in Walt’s is consistent with our objective of investing in high-quality logistics, transport, and warehousing businesses.”

About Hilliard Lyons Investment Banking

Hilliard Lyons Investment Banking employs a full-service model that brings “Wall Street” resources and experience to our “Main Street” clients. Our focus is advising lower-middle-market and emerging growth companies in mergers & acquisitions, capital raising, and business valuation. Hilliard Lyons Investment Banking is a division of J.J.B. Hilliard, W.L. Lyons, LLC, a full-service wealth management firm headquartered in Louisville, Kentucky.