New York – February 8, 2017 – AEA Investors’ (“AEA” or the “Firm”) Small Business Fund (“AEA SBF”) today announced that its fund has completed the sale of The Evans Network of Companies (“Evans” or the “Company”) to a financial sponsor. Evans is a leading transportation services firm focused on supporting agents and drivers that coordinate and haul intermodal freight.
Founded in 1939 by Albert Evans Sr. in Pottsville, Pennsylvania, Evans has evolved from an asset-heavy less-than-truckload trucking operation, into the largest asset-light independent intermodal drayage provider in North America. During AEA’s ownership and with the strong leadership and dedication of CEO Bo Bates and the Evans team, the Company completed two acquisitions, nearly doubled the number of agents served, expanded from a predominately East Coast footprint to a national presence, launched several significant new driver and agent service programs, and substantially built out its management team. This transaction underscores AEA SBF’s success in partnering with proven management teams to build market-leading services companies.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (“Participants”) and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $10 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer, and services. AEA SBF is a strategy within AEA that currently manages nearly $1.0 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with proven management teams and superior business models.
About The Evans Network of Companies
Evans is a market-leading provider of intermodal, flatbed, brokerage, dry van and other transportation and logistics services. Through its agent network, Evans offers services through a fleet of over 3,000 tractors and over 180 terminals throughout the country. The Company provides customer-centric service in the intermodal freight transportation industry and is dedicated to the safety and recognition of its network employees, agent partners and independent contractors. Evans was founded in 1939 by Albert L. Evans, Sr. and is headquartered in Schuylkill Haven, Pennsylvania.
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