Cox Transportation Services, a freight hauling and brokerage services provider and a portfolio company of Expedition Capital Partners, has bought Outwest Express, a truckload freight services company for the southwestern U.S. with a focus on Mexican cross-border logistics.
Outwest operates over 400 tractors and 1,200 trailers serving a group of more than 300 customers across the retail, medical, manufacturing, automotive and electronics industries. Expedition Capital Partners and Prudential Private Capital led a concurrent majority recapitalization of Cox in support of the Outwest acquisition and the company’s growth plans.
By combining Outwest’s capacity and expertise with Cox’s, we can better serve our customers and enhance our role as a trusted and critical supply chain partner,” says Jay Smith, CEO of Cox Transportation. “This acquisition represents an important first step in our ongoing efforts to broaden and deepen our ability to serve our customers across truckload transportation and brokerage.”
Truist served as the senior debt financing partner across a five-bank syndicated deal. FV Advisory Group served as financial advisor to Outwest, and Scudder Law Firm acted as legal advisor. Williams Mullen and Scopelitis, Garvin, Light, Hanson & Feary acted as legal advisors to Cox with respect to the Outwest acquisition. Katten Muchin Rosenman LLP acted as legal advisors to Cox with respect to the recapitalization transaction.