• Capital Advisory
  • Entrepreneurial & Family-Owned
  • Mergers & Acquisitions
  • Transportation

Advising on Acquisition and Financing for a
Fast-Growing Transportation Company

Company Background

Mark-it pursues acquisition strategy to complement its rapid organic growth

Mark-it Express is an intermodal trucking and freight brokerage company based in Lemont, Illinois. It was founded in 2009 and is a two-time recipient of Crain Chicago’s Fast 50 and a four-time member of the INC 5000.

 

To meet the demands of its customers, the company needed to expand its operational capacity and broaden its geographic reach.

181%

Five-year growth rate

2

Acquisitions completed in 2020

70+

Financial institutions contacted

The Challenge

Client pursues first material add-on acquisition

In order to advance its strategic goals, Mark-it agreed to acquire Spirit Trucking. This acquisition marked the company’s first significant participation in an M&A process. As a privately-held company without sponsor backing, Mark-it sought an investment bank to advise them on the acquisition and to assist in securing financing to consummate the transaction. They chose our team at Republic Partners to help them pursue their transformative M&A strategy.

Republic Partners' Role

We worked closely with Mark-it to find and secure the best capital markets opportunities

By leveraging our relationships in the financial and lending communities, we contacted over 70 potential financing partners on behalf of Mark-it, for both the immediate term and the future. We assisted Mark-it in assembling the information and data that lenders and financial institutions would require to review, understand, and underwrite the opportunity.

We took a high-touch approach to help Mark-it manage their selection process

To support Mark-it’s search process, we acted as an advisor and facilitator. We coordinated management meetings and calls with interested parties, managed the due diligence process and additional information requests, including supporting the quality of earnings analysis, field exam, and asset appraisal. We also negotiated term sheets with lenders to ensure that Mark-it could choose from multiple credible alternatives.

The Results

Mark-it achieved success in closing the deal and continued its rapid growth

Mark-it ultimately chose BBVA USA Bank as its financing partner. This partnership enabled the company to complete the acquisition of Spirit Trucking, which nearly doubled its fleet and expanded its geographic coverage.