Majority share of Greatwide to be sold
Dec 8, 2006 8:54 AM, from staff and wire reports
Greatwide Logistics Services, a third-party logistics services company based in Dallas TX, announced that Fenway Partners, a majority owner of the firm since 2000, has entered into an agreement to sell a substantial portion of its holding to Investcorp and Hicks Holdings LLC for $730 million.
Upon completion of the transaction, expected to occur by the end of 2006, Investcorp will become the majority shareholder of Greatwide, with Hicks Holdings as a significant investor and with Fenway Partners continuing to hold a minority interest in the company.
“Greatwide is a leading non-asset based transportation and logistics company that has distinguished itself with strong growth and annual revenues that totaled $1.2 billion in the most recent period,” said Sean Madden, a managing director of Investcorp.
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