LUTZ BUSINESS INSIGHTS
Lutz M&A Advises C&W Transportation on its Sale to Platform Capital
BILL KENEDY, LUTZ CONSULTING AND M&A SHAREHOLDER
Lutz M&A announced that it served as exclusive financial advisor to C&W Transportation Company (“C&W” or the “Company”), in connection with its recapitalization led by Platform Capital. Based in Fort Collins, Colorado, C&W provides less than truckload (LTL) and truckload (TL) transportation services. The Company primarily operates in Denver and surrounding areas, with additional routes into Wyoming, Nebraska, and Kansas. Platform Capital is an operationally focused private equity firm based in Denver, with a satellite office in Indianapolis. The transaction closed in October 2018.
C&W Transportation was founded 36 years ago and is currently owned by CEO Devin Henderson, who has been with the Company since 1994. C&W’s primary business is overnight delivery service moving goods from distribution centers to end retail locations with guaranteed 6AM delivery. This enables customers to order on a daily basis, thus improving efficiencies with leaner inventory levels. Post-transaction, Mr. Henderson will continue serving as President, while retaining significant equity ownership. Going forward, Platform Capital will support Mr. Henderson as the Company pursues new growth initiatives.
Mr. Henderson stated, “C&W’s new partnership with Platform Capital is an exciting new chapter for the Company. As we combine their operational and financial skills with our industry experience and relationships, we see several new avenues to grow and expand.” On working with Lutz M&A, Mr. Henderson said, “Lutz marketed the Company with skill and professionalism. They presented several options for us to consider. We could not be happier with the outcome and how the deal came together.”
Commenting for Lutz M&A, Bill Kenedy added, “We sincerely appreciated the opportunity to represent Devin and C&W. He is an incredible operator who has built something special. The new partnership with Platform Capital opens the door to many intriguing growth opportunities.”
About Lutz M&A: Lutz M&A is a Nebraska-based mergers and acquisitions advisory firm, serving lower middle-market businesses in the Midwest across a range of industries. Lutz M&A is committed to providing its clients with a comprehensive, skilled and professional marketing process not typically available to smaller market companies. For more information, visit https://www.lutz.us/lutzma/.
About Platform Capital: Platform Capital is an operationally-oriented private investment firm headquartered in Denver, CO. Founded and managed by former business operators and turnaround professionals, Platform Capital employs a disciplined approach to operational and financial management. The Partners of Platform Capital have experience in a broad range of industries and a vast array of circumstances. For more information, visit www.platformcap.com.
ABOUT THE AUTHOR
BILL KENEDY + LUTZ CONSULTING AND M&A SHAREHOLDER
Bill Kenedy is a Lutz Consulting and M&A Shareholder at Lutz. He specializes in business valuation, litigation support, and merger and acquisition advisory services.
AREAS OF FOCUS
- Mergers and Acquisitions
- Business Valuation
- Litigation Support
- Business Transition Advisory Services
- Estate Planning
- Fraud Prevention and Detection
- Financial Analysis/Budgeting
AFFILIATIONS AND CREDENTIALS
- American Institute of Certified Public Accountants, Member
- Nebraska Society of Certified Public Accountants, Member
- Certified Public Accountant
- Accredited in Business Valuation
- Certified in Financial Forensic
- Certified Exit Planning Advisor
EDUCATIONAL BACKGROUND
- BSBA in Accounting, St. John’s University, Collegeville, MN
COMMUNITY SERVICE
- Construction Financial Management Association, Past Treasurer, Board Member
- A Time to Heal (non-profit focused on cancer patients), Past Board Member
THOUGHT LEADERSHIP
- Net Working Capital Calculation Dilemma + Customer Deposits/Deferred Revenue
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- Finding the True Value of Your Business
- How Does the Business Sale Process Work?
- Understanding the Tax Implications of a Business Sale
- The M&A Client Experience
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- 5 Key Purchase Agreement Considerations
- Net Working Capital: What is it and How is it Used?
- Issues During the Due Diligence Process in M&A Transactions
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- Our Services, Our People, and Our Results
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- How to Increase the Value of Your Business
- When is the Right Time to Exit My Business?
- Lutz M&A Advises Triage Staffing on Recapitalization
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- Why is Forensic Accounting Needed?
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