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Mar 11, 2023

Kreshmore Group Advises Mustang Express in its Sale to Online Transport

LEMONT, Ill.--(BUSINESS WIRE)--Jun 7, 2023-- Kreshmore Group (KG), a leading

LEMONT, Ill.--(BUSINESS WIRE)--Jun 7, 2023--

Kreshmore Group (KG), a leading mergers and acquisitions advisory firm, is pleased to announce its role as exclusive sell-side advisor to Mustang Express, LTD (Mustang or the Company) in its acquisition by Online Transport, Inc. (Online). The transaction was led by Kreshmore's Anthony Lazzara.

Mustang is an asset-based over-the-road transportation company located in El Paso, TX. Founded in 2001, Mustang provides ambient truckload services, just-in-time solutions, 3PL warehousing and dedicated manufacturing support transportation services. The Company specializes in automotive parts and supplies, medical products, paper products, technology, raw material, and miscellaneous related cargo. Due to Mustang's southwestern NOC terminal, the Company is able to advantageously move critical freight from the Mexican border up into the midwestern United States.

Mustang puts a high priority on driver safety and well-maintained equipment. Their team driver model along with an up-to-date and well-maintained fleet reinforces the Company's commitment to supply chain sustainability. Mustang is a SmartWay Transport Partner with the EPA, receiving top excellence awards year-over-year.

Established in 2000 and based out of Greenfield, IN, Online provides a full range of transportation solutions including bulk liquid, flatbed, temperature-controlled and dry van transportation services, as well as just-in-time and over-the-road truckload offerings. Their 3PL solutions include yard management, carrier management, crossdocking and warehousing and distribution services.

"We are honored to bring Mustang and Online together on this transaction – this acquisition is a great synergistic add-on for Online," said Anthony Lazzara, Senior Managing Director of Kreshmore Group. "Mustang's asset-based operation with over 60 drivers allows Online to gain market share with blue-chip customers including an expansion of the regions and routes they currently service. We wish the entire Mustang team the best and look forward to their continued success under the Online umbrella."

"Anthony and his team showed the KG difference on this transaction and continued to prove our firm's value in running middle-market M&A transactions," said Joseph Wabick, Managing Partner of Kreshmore Group. "Kreshmore's distinct transportation experience was critical in finding the right strategic buyer in Online."

Kreshmore Group provided exclusive M&A advisory services to Mustang Express. The acquisition closed May 19, 2023. Specific terms of this deal transaction were not disclosed.

About Kreshmore Group℠

Kreshmore Group (KG) started operations in 2009 through its predecessors and has grown to become Chicago's preeminent restructuring and M&A advisory company. The firm serves myriad niche industries while focusing on lower-middle & mid-market companies within the continental United States. KG assists clients in restructures/turnarounds, workouts, recapitalizations, M&A, real estate capital markets and real estate asset management, sell prep, senior and subordinated debt structuring, diligence services, c-suite advisory, outsourced analytics and modeling, business valuations, and solving complex financial problems with unique solutions. Headquartered in Lemont, Illinois, KG is known within the Chicagoland area as a tenacious and hyper-focused strategic consulting firm. Kreshmore Group consists of a creative, cohesive, and diverse team with over 175 years of combined relevant experience. To learn more about KG please visit www.Kreshmore.com or our LinkedIn page, today.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230607005586/en/

CONTACT: Thomas G. Varga

(708) 719-4120

[email protected]

Kreshmore Group

Kreshmore.com

KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES TRUCKING OTHER PROFESSIONAL SERVICES LOGISTICS/SUPPLY CHAIN MANAGEMENT TRANSPORT CONSULTING OTHER TRANSPORT

SOURCE: Kreshmore Group

Copyright Business Wire 2023.

PUB: 06/07/2023 08:47 AM/DISC: 06/07/2023 08:46 AM

http://www.businesswire.com/news/home/20230607005586/en

Copyright Business Wire 2023.