Bengur Bryan Announces Closing of Andlauer Healthcare Group’s Acquisition of Boyle Transportation

We are pleased to announce that Andlauer Healthcare Group (AHG) closed its previously announced acquisition of Boyle Transportation. Bengur Bryan acted as the exclusive financial adviser to Boyle Transportation in its announced sale to AHG.

Boyle Transportation tombstone

The purchase price for Boyle Transportation was approximately $80 million, subject to customary purchase price adjustments, and was satisfied through the issuance of 522,116 subordinated voting shares and cash of approximately $60 million.

Boyle Transportation provides specialized transportation services to clients in the life sciences and government/defense sectors. Boyle Transportation joins AHG’s comprehensive platform of dedicated healthcare supply chain solutions and continues to be led by the existing leadership team.

“We’re proud to join the Andlauer team,” stated Andrew Boyle and Marc Boyle, Co-Presidents of Boyle Transportation. “As part of the highly regarded AHG platform, we are confident that this strategic move will help Boyle Transportation and AHG deliver a broader suite of services to our valuable clients and apply our expertise on a greater scale.”

“We are pleased that we could utilize our deep industry knowledge to maximize value for Boyle Transportation,” said Scott Bass, Managing Director of Bengur Bryan. “We look forward to seeing the continued growth of Boyle Transportation as a part of AHG.”

Bengur Bryan Advises Management of Boyle Transportation in its Sale to Andlauer Healthcare Group

text reads Boyle We deliver security

Bengur Bryan, a leading investment banking firm that provides merger and acquisition services, private placements of equity and debt, and financial advisory services, announced today that the firm acted as the exclusive financial adviser to Boyle Transportation in its announced sale to the Andlauer Healthcare Group (AHG) for approximately $80 million, subject to customary purchase price adjustments, of which $60 million of the purchase price will be payable in cash and $20 million will be satisfied through the issuance of AHG subordinate voting shares to the sellers.

Boyle Transportation provides specialized transportation services to clients in the life sciences and government/defense sectors. Boyle Transportation adheres to stringent quality and security standards, employs highly trained and dedicated professionals, continually invests in advanced technology and equipment, and has an expansive reach across the United States.

The company was recently named the “Best Overall Winners” for the second year in a row in the Best Fleets to Drive For®, an annual program dedicated to uncovering the best workplaces in the North American trucking industry, produced by the Carriers Edge and Truckload Carriers Association. Boyle Transportation will join AHG’s comprehensive platform of dedicated healthcare supply chain solutions and continue to be led by the current executive leadership team.

“We are thrilled to be welcoming the Boyle Transportation team to Andlauer Healthcare Group,” stated Michael Andlauer, Chief Executive Officer of AHG. “Boyle is a leader in the temperature-sensitive life sciences sector and brings complementary security and visibility capabilities to the defence sector. Boyle has a strong commitment to customer-focused care and a people-first approach, which are core values of the Andlauer Healthcare Group.”

“We’re excited to join the Andlauer team,” stated Andrew Boyle and Marc Boyle, Co-Presidents of Boyle Transportation. “As part of the highly regarded AHG platform, we will be able to offer a broader suite of services to our valuable clients. We are confident that this strategic move will help Boyle Transportation continue to be the provider of choice to clients and the employer of choice to transportation and logistics professionals in the U.S. The Bengur Bryan team was an integral part of the entire process, providing comprehensive transaction advice. They focused on achieving the best deal structure and strategic outcome for Boyle Transportation.”

“We are proud to partner with Andrew, Marc, and the Boyle Transportation team to bring this deal to fruition,” said Scott Bass, Managing Director of Bengur Bryan. “This is the 30th deal we’ve completed in the transportation and logistics industry, and we are pleased that we could utilize our deep industry knowledge to provide insights and maximize value for Boyle Transportation.”

Bengur Bryan Advises Three Wire Systems, LLC on Growth Capital Financing

Three Wire Systems logo

Bengur Bryan provided financial and strategic advisory services to Three Wire Systems, LLC (“Three Wire” and “Company”) as part of a growth capital financing. Three Wire engaged Bengur Bryan to provide financial and strategic analysis for the Company, including the evaluation and modeling of multiple growth capital financing proposals to support the projected growth of the business.

Founded in 2006, Three Wire Systems, LLC is the leader in innovative and efficient technology solutions for government agencies and large enterprise corporations looking to modernize with innovative and efficient technology solutions. Three Wire designs solutions to support business goals and deliver superior results in a cost-efficient manner. Three Wire’s MyAdvisor® division provides holistic care to individuals and families, with access to one-on-one care coordination sessions in behavioral health, wellness, navigational advocacy, financial literacy, and career development. This includes the VetAdvisor® program, an American Association of Suicidology (AAS) accredited member, with over a decade of experience in health and wellness serving military veterans, active-duty service members, national guardsmen, and reservists.

“From the moment we engaged Bengur Bryan, we knew we made the right decision. Their strategic instincts and financial acumen, combined with their knowledge of the government services sector, proved to be incredibly valuable to our company,” commented Three Wire Chief Executive Officer Greg Feldman. “The structural concepts that Bengur Bryan laid out provided us with insight on how to best structure our growth capital.”

Bengur Bryan Advises 3E, LLC

3E, LLC

Bengur Bryan arranged $67.5 million in senior debt and preferred equity for 3E, LLC (the “Company”), a utilities service provider, to repurchase equity from a minority investor and refinance its debt to position it for growth.

Under the Benton-Georgia, LLC and Pipe Strong, LLC subsidiaries, 3E installs, inspects, maintains and replaces critical infrastructure for blue-chip, investor-owned natural gas utilities throughout the Southeast and Midwest regions. With history dating back to 1914, 3E enables utilities to reach their infrastructure goals and is well positioned to help its utility partners expand, improve maintenance and replace aging utility networks. The Company is a certified Minority Business Enterprise and is wholly owned by 3.5.7.11, a technology development, patent and private investment firm which has holdings in the data center, energy and financial services industries.

“The Bengur Bryan team served as an invaluable resource in structuring a transaction that allowed us to buy out our non-control equity partner and arrange a capital structure that sets up 3E to better serve our customers,” said Dale LeFebvre, founder of 3.5.7.11. “The team expertly managed a complex multi-party transaction and negotiated numerous competing interests, allowing us to reclaim 100% of the equity ownership and position our Company for growth. We look forward to continuing our relationship with Bengur Bryan.”

“Scott, Pat and Charles at Bengur Bryan partnered with us to execute a complicated set of transactions with multiple parties on a very tight timeline,” said 3E Chief Financial Officer Jay Scherer. “The Bengur Bryan team was instrumental in supporting and preparing 3E for its next chapter of growth.”

2020 Year in Review

2020 began with only a hint of the disruption that COVID-19 would cause. As the pandemic spread, many of our clients’ companies were required to close or reduce their activities—severely in some cases. Many companies were faced with the challenge of simply staying afloat.

Our traditional M&A and capital markets deals were delayed, and we shifted gears to help our clients maneuver through these turbulent times. From helping our clients renegotiate loan agreements with their lenders, navigate the application process for new loan programs, such as the Payroll Protection Program (PPP) and Main Street programs, or seek capital from other sources to ensure they had enough cash to meet their fixed obligations and payroll, we offered advice and encouragement as needed. On a pro bono basis, we assisted over 50 businesses and non-profit charities to apply for a PPP loan.

In the first half of 2020, lenders and private equity firms mainly focused on their portfolio companies, resulting in little market activity. As the impact of COVID-19 on various industries became clearer however, companies that benefited from this changed environment—like janitorial services (Business Services) and quick service restaurants (Consumer Products & Services)—saw interest from both strategic and financial buyers.

A Few of Our Notable 2020 Transactions

Bengur Bryan represented Proximas Group with its purchase of ADG Creative, LLC, a leading strategic communications firm providing business-focused creative solutions for government agencies and commercial entities.

Bengur Bryan represented National Janitorial Solutions, a nationwide provider of janitorial services to a wide variety of retail, healthcare, industrial, office, and educational facilities operators, in its sale to Revolent Capital Solutions.

Bengur Bryan also served as the exclusive financial advisor to PJPA, LLC, a long-time Papa John’s Pizza franchisee, in the sale of its 18 New Jersey and Delaware restaurants. The sale attracted interest from franchisees looking to consolidate a territory to restaurant companies aiming to diversify their holdings. With the pandemic, quick service concepts, like Papa John’s Pizza, benefited from the shift to carryout and delivery options.

Our team is growing; we are pleased to have Patrick Frazier, Jeff Rummell, and Samantha Woolf join the Bengur Bryan team. As we look forward to 2021, we are optimistic that business activity across many industries will return to normal. As has been the case historically, a disruptive crisis creates both challenges and opportunities.

We continue to support our clients affected by COVID-19 and will be looking for merger and acquisition opportunities for companies that will benefit from industry shifts and the expected economic recovery. We thank you for your continued partnership and hope this new year brings you renewed health and success.