Capstone Partners, advised Avenger Logistics (Avenger), a provider of freight brokerage services, on its sale to MODE Transportation, a portfolio company of York Capital.
Based in Chattanooga, TN with offices in Minneapolis, MN, Avenger Logistics provides specialized, flatbed and oversized freight brokerage services, along with other general freight brokerage. The Company was founded in 2015 by Don Godsey and has grown rapidly. In both 2019 and 2020, Avenger was recognized as one of Transport Topics’ Top Freight Brokerages in the United States. The Company employs a cradle-to-grave model to drive high-touch service.
“I started the business in 2015 with no experience in freight brokerage. It has been a real pleasure to work with my team to build one of the fastest growing brokerages in Chattanooga, maybe in the industry,” commented Mr. Godsey, Founder of Avenger. “I am very confident that Avenger will continue to be a major success story under new ownership.”
The Capstone team did a fantastic job finding a great fit for Avenger even with all the Covid challenges in 2020. Just as I knew little about brokerage when I first started Avenger, I knew little about how to sell a company when we started down this path. Without Capstone’s expert guidance I would have been bogged down with all the things involved to sell a complex company. From start to finish, a closing of 60 days is hats off to Capstone’s participation.
“It was a joy to work with Don and the team through the ups and downs of 2020,” said Burke Smith, managing director and head of transportation at Capstone. “Strong players like Avenger thrived through this chaotic year and the M&A market continues to be exceptionally strong for high-quality differentiated brokerage platforms like Avenger.”