We are pleased to announce that KC Piggyback Holdings ("KCP") has acquired the stock of our client Harbor Division ("the Company") located in Southern California. Coil Partners acted as financial advisor to Harbor Division for the transaction.
Founded in 1986, Harbor Division provides drayage services of ocean containers and intermodal equipment storage serving the Los Angeles market and regions in Southern California. The Company’s core competencies include the efficient navigation of the port gauntlet to expedite container delivery. Harbor Division complements it drayage operations with 27 acres of paved, secure storage space for intermodal equipment such as trucks, containers and chassis. The Company’s market leadership and customer loyalty stem from a reputation as “the hardest working guys in the harbor.”
KCP is a holding company formed by the private equity group Arc Industries, Inc. Through its operating companies located in Kansas City, MO and Northern California, KCP provides drayage trucking services for steamship lines, freight forwarders and other customers requiring transport of cargo.
Advising the owner of Harbor Division, Coil Partners was successful in structuring and negotiating the sale of the Company to the private equity-backed strategic buyer, KCP, which continues to build on its operating portfolio and expertise within trucking services.