New York-based private equity firm Harvest Partners, LP has acquired yard management services provider Lazer Spot, Inc. from Greenbriar Equity Group, LP, the company said today.
Alpharetta, Ga.-based Lazer Spot provides spotting services (rapid and precise movement of empty and full trailers at its customers' distribution centers and manufacturing facilities) and shuttling (on-demand movement of empty or full trailers between customers' sites, distribution facilities, third-party rail yards, and shipping ports) to companies throughout the United States and Canada. Lazer Spot has more than 100 blue chip customers in the consumer packaged goods, food and beverage, pulp and paper, retail, and other industrial sectors, servicing more than 400 sites, according to Harvest Partners.
The deal will help Lazer Spot grow organically and by acquisition, leaders of both firms said. Lazer Spot will continue to be led by CEO Adam Newsome, and its management team will remain "significant owners of the business," Harvest Partners said. Additional terms of the deal were not disclosed.