Hatteras Group Represents East Coast Air Charter In Recent Sale to XPO Logistics, Inc.
M&A Advisory Group Assists In The Sale Of Third Party Logistics Business ECAC To N.C.-Based Freight Transporter XPO.
- Raleigh-Durham-Chapel Hill, NC (1888PressRelease) May 18, 2013 - Alan Clark, principle of The Hatteras Group (www.hatterasgroup.com/), has announced that his firm represented Statesville, N.C.- based East Coast Air Charter (http://www.eastcoastaircharter.com/), a leading provider of comprehensive air charter management services, in its recent sale to XPO Logistics (http://www.xpologistics.com/). XPO saw synergistic value in adding the expedited air charter services of ECAC to their growing business unit Express-1, the nation's fifth largest expedited freight services provider. Clark had previously advised ECAC regarding business valuations as well as the 2010 acquisition of 911 Air Cargo, so ECAC enlisted Clark again to ensure its company value was accurately represented in the transaction with XPO.
With the help of Clark, XPO purchased ECAC for a price of $9.25 million, which exceeded the seller's expectations as a result of research and evaluation provided by Clark. Clark was able to complete the transaction within four weeks of an indication of interest and ECAC's key management will remain with XPO to integrate their offerings and grow their businesses.
QUOTES:
"Representing ECAC was important to the Hatteras Group because this is a prime example of the value we bring to a business owner who is ready to sell their business," said Clark. "Our ability to professionally represent the true value of their business to the most qualified buyer prospects and negotiate a transaction on their behalf without the emotional ties of an owner results in a smoother closing and financial gains for the owner. We were very happy to be part of this transaction, and we are excited to see XPO grow their business here in North Carolina."
ABOUT THE HATTERAS GROUP:
Established in 1998, the Hatteras Group is a collaborative network of professional intermediaries and acquisition advisors leading business owners and entrepreneurs through the buying and selling of businesses. In addition to providing professional business evaluations and opinions of value, the Hatteras Group follows a proven, comprehensive process to expose businesses to a broad range of possible buyers while maintaining the privacy and confidentiality of the transaction. For more information, visit http://www.hatterasgroup.com.
Caitlin Russell
MMI Public Relations
(919) 233-6600
caitlin ( @ ) mmipublicrelations dot com
http://twitter.com/MMIPR
http://www.mmipublicrelations.com
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