Lazer Logistics acquires Hirschbach spotting division
Lazer adds 45 locations and nears 600 with acquisition of Hirschbach Motor Lines spotting division
ALPHARETTA, GA, Nov. 6, 2023 – Lazer Logistics, Inc., (“Lazer Logistics”) the leading provider of outsourced, end-to-end yard management services in North America, has acquired the spotting operations of Hirschbach Motor Lines, Inc. (“Hirschbach”), an industry-leading transportation carrier specializing in refrigerated-truckload services, based in Dubuque, IA. The transaction is the first since EQT Infrastructure acquired Lazer in March. Terms of the transaction were not disclosed.
“Four years ago, I stated that one of our top priorities was to supplement our strong organic growth with acquisitions of respected and like-minded operators, like Hirschbach. With Lazer as the largest provider of spotting services and Hirschbach as the largest outsourced provider to the cold storage and protein subsectors, this acquisition is a perfect fit for our future growth plans. Both companies are exceptionally high performing and complement each other quite well with our customer mix and the operational efficiencies this combination will bring,” stated Lazer Logistics founder and CEO Adam Newsome. “This acquisition brings our footprint to nearly 600 locations, providing incredible career growth opportunities for our employees.”
“This transaction is a win-win for all parties, including our spotting division customers, employees and both companies. Our employees are transitioning to a company whose core business is spotting, which affords them plentiful opportunities for career growth, given the size and scope of Lazer’s footprint,” said Brad Pinchuk, Hirschbach owner and CEO. “Selling this small segment of our business, which represents roughly 5% of our revenues, will allow us to focus on our core temp controlled dedicated, OTR, and Logistics services. We are confident our customers and employees will be well served with Lazer, given their track record of operational excellence.”
Newsome added, “We will ensure a seamless transition and complete business continuity for customers. Lazer has acquired numerous companies over the past 27 years. Our formula for success is simple, treat our employees right, and they will take care of our customers. So, for the employees that are coming over as part of the acquisition, they are simply switching families. As we move further along in the integration process, we will look to make any improvements necessary and introduce them to additional services that Lazer offers including shuttling, gate operations, trailer rental and leasing, electric vehicles providing emission-free yard operations, drayage, yard management software, and more.”
Crosby Cook, Partner within EQT’s Value-Add Infrastructure Advisory Team, said, “This acquisition represents EQT’s confidence in Adam and his team and our commitment to position the company for long-term success. Hirschbach’s spotting business is best in class and enables Lazer’s expansion into the cold storage and protein industries, which present an attractive growth opportunity. Furthermore, Hirschbach has developed a high-quality software for yard management that will enhance Lazer’s value proposition to existing customers and dramatically accelerate the digital value creation plan at Lazer.”
With the addition of the 45 locations as part of the deal, Lazer now operates in just under 600 locations across 41 states and Canada.
Founded in 1996 and headquartered in Atlanta, GA, Lazer Logistics is North America’s largest provider of outsourced end-to-end yard management. Their solutions include trailer spotting, shuttling, trailer rental and leasing, gate management, drayage, YMS technology, and more. Lazer operates North America’s largest fleet of outsourced electric spotters and is committed to helping clients achieve their corporate sustainability goals by simplifying the complicated process through a complete end-to-end, customizable solution which includes buying, operating, and maintaining all EV vehicles and equipment, and managing grant programs where applicable.
Lazer has operations in nearly 600 locations with over 5,300 employees and 9,200 fleet assets – the Company runs over 9 million annual service hours for a diverse set of blue-chip customers across 41 U.S. states and Canadian territories. More info: www.lazerlogistics.com.
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating assets under management) within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership. More info: www.eqtgroup.com.
Founded in 1935, Hirschbach is an industry-leading transportation carrier offering experienced, refrigerated truckload services to all 48 states. In addition, Hirschbach offers customers a complete range of dedicated transportation solutions and innovative specialized services. In 2023, the company earned the prestigious designation by the National Veteran-Owned Business Association (NaVOBA) as a veteran-owned business. With more than $1.2 billion in annual revenue, 3,200 trucks, 5,100 trailers and 3,600 drivers, Hirschbach continues its position in the market as a ‘best-in-class’ provider. For more information, visit www.hirschbach.com.