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Generational Capital Markets Advises Clay's Transport in its Sale to P&S Transportation

By Capital Markets

Nov 15, 2022, 08:00 et

Clays Transport Sold to PS Transportation

Generational Capital Markets, Member FINRA/SIPC and a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Clay's Transport, Inc. (and its sister entity, Clays Logistics LLC) to P&S Transportation, LLC (a subsidiary of PS Logistics). The acquisition closed October 31, 2022. 

Clay’s Transport, Inc. (CTI) is a provider of general freight and diesel repair services. Trucking services include dry van, flatbed, heavy haul, and full-scale third-party (3PL) freight delivery brokerage services through its sister entity, Clays Logistics LLC. Both companies also offer an on-site, full-service mechanic shop from its facility in Brookhaven, Mississippi. Clay’s Transport, Inc. and Clay’s Logistics, LLC were both owned by Reed Capital Investors and James Waldrop. 

Founded in 2004 and headquartered in Birmingham, AL, PS Logistics is one of the largest and fastest-growing flatbed transportation and multi-modal logistics providers in the United States. PS Logistics provides full-service transportation services, including asset-based transportation, non-asset-based transportation, brokerage, third-party logistics managed transportation, warehousing, and supply chain services. This hybrid model delivers optimal flexibility to address customers’ transportation needs across various industries throughout the United States.

“Clay’s brings great freight synergies to both our companies as well as our customers,” said Scott Smith, CEO of PS Logistics. “It also further establishes our driver base in the Southeast and adds our first trucking terminal in Mississippi to our growing national network.”

Organizationally, CTI will be managed by James Waldrop as a separate division of P&S Transportation under the leadership of Houston Vaughn, President and COO of P&S Transportation. CTI will continue to operate under the Clay’s Transport brand name.

“P&S will be a great partner for our business,” Waldrop said. “Both of our companies are committed to our drivers and their success, and we share a positive culture that creates an ideal environment for everyone to grow and prosper.”

The CTI acquisition continues PS Logistics’ acquisition strategy of partnering with families and owners within the flatbed trucking segment. Since 2016, PS Logistics has successfully acquired 26 trucking and brokerage operations.

Generational Capital Markets’ Senior Managing Director, M&A, Chris Heckert, with the support of Vice President, M&A, Nydia Blanco successfully closed the deal. 

“I look forward to seeing how this acquisition allows Clay’s Transport and Clay’s Logistics to grow and expand in their region and was happy to help facilitate another sale for Reed Capital Investors,” said Heckert. 

“We are excited to have another successful exit,” said Bernie Reed, owner of Reed Capital Investors. “We have another company seeing very strong growth and are under letter on our next holding. The future looks very bright!”

About Generational Capital, LLC

Generational Capital, LLC, is a Dallas, Texas-based merger and acquisition advisory firm. Generational Capital wholly owns Generational Capital Markets, Inc., Member FINRA/SIPC. More information can be found at https://www.gencm.com/.

Generational Capital and Generational Capital Markets are part of the Generational Group and are affiliated with Generational Equity, LLC, which The M&A Advisor named Investment Banking Firm of the Year in 2016, 2017, and 2018, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022.

GCM's most recent awards include The M&A Advisor's 2020 Information Technology Deal of the Year ($10MM-$25MM) and 2020 Private Equity Deal of the Year ($25MM-$50MM).

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