Mar 22, 2022

Capstone Partners Advised AAT Carriers on its Sale to Covenant Logistics

Capstone Partners advised AAT Carriers (AAT)—a prominent nationwide specialized carrier—on its acquisition by Covenant Logistics (Covenant).

Founded in 2007, AAT Carriers specializes in transporting sensitive freight and other dangerous goods and provides dedicated service for a diverse group of government and commercial customers. AAT handles all types of van, flatbed, and specialized freight.

AAT’s capabilities and experience within the industry combined with Covenant’s resources will allow Covenant to immediately expand into moving high-value, sensitive, and hazardous freight within the defense sector.

The entire Capstone team was a pleasure to deal with. From beginning to end, the guidance and expertise was top notch. We’re very grateful for such a smooth transaction.

Jeremy ShaversPresident, AAT Carriers

“Representing a company like AAT—with truly industry-leading operational metrics—is always a joy,” commented Burke Smith, Managing Director at Capstone Partners. “In this case, AAT Carriers’ strategic focus on supporting critical national infrastructure and services made this an even more special experience. Covenant will be a fantastic partner to carry this legacy forward.”

Based in Chattanooga, TN, Covenant Logistics partners with their customers to engineer value-driven solutions to their supply chain challenges through a portfolio of logistics and transportation services. Its primary capabilities are in expedited, dedicated, warehousing, and managed freight transportation. Learn more at www.covenantlogistics.com.

The expert investment banking professionals on Capstone Partners’ Transportation & Logistics Team work with leading middle market companies operating in the Trucking & Local Delivery market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our Transportation & Logistics Banking Team, contact us.