RICHMOND, Va., Sept. 13, 2011 /PRNewswire/ -- BB&T Capital Markets advised the board of directors of XPO Logistics Inc. on an equity investment by Jacobs Private Equity LLC of up to $150 million.
Under the terms of the transaction, Jacobs Private Equity and minority co-investors will invest an aggregate of up to $150 million in cash in XPO Logistics Inc., including an investment by Jacobs Private Equity of up to $135 million, in each case including amounts payable upon exercise of warrants.
The transaction received shareholder approval on Sept. 1. The advisory team was led by Frank Mountcastle, managing director and co-head of BB&T Capital Markets' Logistics & Transportation Services Investment Banking team.
XPO Logistics, based in Buchanan, Mich., is a non-asset based, third-party logistics services provider that uses a network of relationships with ground, sea and air carriers to find the best transportation solutions for its customers. The company offers its services through three distinct business units: Express-1, Inc. (expedited transportation solutions), the fifth-largest U.S. expedited freight service provider; Concert Group Logistics Inc. (domestic and international freight forwarding); and Bounce Logistics Inc. (premium truckload brokerage).
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SOURCE BB&T Corporation