Overview:
- Exel Direct Inc. (“ED” – now MXD Group) is an industry-leading, asset light provider of home delivery and logistics solutions. ED specializes in high-touch, “white-glove” deliveries for non-conveyable products across the United States. ED was previously a division of Exel, Inc., which is a wholly-owned subsidiary of Deutsche Post DHL
- It was determined that ED was non-core to the broader Exel/DHL Supply Chain operations
- FINNEA Group was retained by Exel to evaluate strategic alternatives for the business and to advise in the sale of the ED business
Role and Responsibilities:
- Conducted detailed analysis of the business including extensive financial and transaction modeling (operational and financial analysis, transaction structuring, valuation, carve-out analysis, etc.)
- Prepared a detailed Confidential Information Memorandum and an effective Management Presentation used to market the business
- Efficiently managed the sale process by identifying and contacting the most likely universe of strategic and financial buyers who could capitalize on the significant near term growth prospects of the business
- Managed a highly competitive sale process with specific deal complexities (e.g. integrated corporate carve-out) that saw significant interest from a very selective buyer group and played an active role in negotiating a definitive agreement with favorable terms at an attractive valuation
- Worked closely with ED and Exel to streamline the due diligence process, assisted Exel, ED and Platinum Equity in the transition planning of the business
Results:
ED was successfully sold to Platinum Equity, one of the nation’s leading private equity firms, in a highly competitive and complex carve-out transaction
