WhiteHawk Capital Partners, LP ("WhiteHawk"), a private credit investment manager focused on asset-based financing solutions, has entered into an agreement with West Side Transport, Inc. (the “Borrower” or “West Side”) to provide a $111 million senior secured first lien credit facility (the "Facility"). Proceeds from the Facility were used to support EVO Transportation & Energy’s (“EVO”) acquisition of West Side and provide additional working capital.
Founded in 1968, and headquartered in Cedar Rapids, Iowa, West Side is a transportation, logistics and warehousing company that specializes in short-haul van truckloads. The acquisition by EVO, a truckload carrier based in Phoenix, AZ, is expected to enhance the operational efficiencies and market positioning of the combined entity. Antara Capital LP (“Antara”), a long-term equity investor in EVO, has supported the acquisition financing of West Side by providing an equity contribution in conjunction with proceeds of the Facility. Antara is a minority-owned event-driven private investment firm based in New York, NY.
“We are excited about partnering with EVO and believe that our complementary strengths will help both companies grow and prosper,” said Ron Joseph, President of West Side Transport.
“EVO is thrilled to partner with WhiteHawk on this transaction. Thanks to the support of Brad and his team, we are proud to add the West Side brand to the EVO family. We are excited about the future of our combined company and look forward to working with the WhiteHawk team as we look to accelerate growth and take advantage of market opportunities,” said Michael Bayles, Chief Executive Officer of EVO Transportation.
“We are thrilled to begin our partnership with West Side. We believe the blend of their well-established customer base in the Midwest, a sizable fleet of tractors and trailers, and a highly skilled team positions them for continued growth,” said Brad Huge, Managing Director at WhiteHawk.
About WhiteHawk:
WhiteHawk Capital Partners, LP is a private credit investment manager focused on asset-based financing solutions primarily to middle-market private and public companies across a variety of industries. WhiteHawk provides senior secured financings under a variety of structures for purposes of refinancing, recapitalization, growth, acquisition, restructuring, bridge, and DIP/emergence. For more information visit www.whitehawkcapital.com or contact info@whitehawkcapital.com.
About West Side Transport:
West Side Transport, Inc. is a privately held transportation and logistics company that specializes in short-haul van truckloads. Based out of Cedar Rapids, Iowa, the Company owns and operates a large fleet of 520+ Tractors and 2000+ Trailers. To learn more about West Side, visit www.westsidetransport.com
About EVO Transportation:
EVO Transportation & Energy Services is a trucking and logistics company headquartered in Phoenix, AZ. The company is one of the largest ground transportation providers to the United States Postal Service and also serves a book of other dedicated freight customers. To learn more about EVO, visit www.evotransinc.com or contact michael.bayles@evotransinc.com
About Antara Capital, LP:
Antara Capital is a private investment firm that excels in event-driven investments across the capital structure. By combining deep expertise with innovative strategies and proactive risk management, Antara swiftly adapts to and capitalizes on evolving market opportunities. To learn more about Antara, visit www.antaracapital.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240924152288/en/
Contacts
For WhiteHawk:
For all inquiries: info@whitehawkcapital.com
For EVO Transportation and Energy and West Side Transport:
For all inquires: michael.bayles@evotransinc.com
For Antara Capital, LP:
For all inquires: info@antaracapital.com