Ropes & Gray Advises Lazer Spot, a Harvest Partners Portfolio Company, in its Acquisition of PHB Transport, Inc.
Ropes & Gray advised Lazer Spot, a Harvest Partners portfolio company, in its acquisition of PHB Transport Inc., a third-party logistics company based in Jacksonville, Florida. Lazer Spot also acquired all rights under the contracts entered into by E-Transport pursuant to which PHB, Inc. performed services to customers. Terms of the transactions were not disclosed. The transaction was announced on March 2. The press release is here.
PHB Transport is a trailer spotting and short-shuttle service provider based in Jacksonville, Florida with nearly 200 employees and locations across 11 states.
Lazer Spot is the only national provider of spotting services (rapid and precise movement of empty and full trailers at its customers' distribution centers and manufacturing facilities) and shuttling (on-demand movement of empty or full trailers between customers' sites, distribution facilities, third party rail yards and shipping ports).
Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & consumer, healthcare, industrial services and manufacturing & distribution sectors.
The Ropes & Gray team that advised Lazer Spot was led by private equity partners Carolyn Vardi and Scott Abramowitz (both of New York), and included finance partner Michael Lee as well as tax partners Kat Saunders Gregor and Pamela Glazier (all of Boston).