Nolan & Associates exclusively advised Lanter Delivery Systems, Inc. in its acquisition of certain assets of Action Expediting and Cannon Express of the Southeast, LLC

“Prior to beginning the process, we were unsure of the types of opportunities we would see in the market. Nolan created an environment for efficient and confidential conversations with companies that aligned with our objectives. Overall, we were very happy with the results of the process and the level of response from the market.”

– Steve Lanter, CEO & Founder, Lanter Delivery Systems, Inc.

About Our Client: Lanter Delivery Systems

  • Founded in 1981, Lanter Delivery Systems, Inc. is a super-regional logistics company and a leader in overnight, unattended delivery of auto, agricultural and industrial parts from their customer’s distribution centers to dealer locations.
  • Lanter Delivery Systems, headquartered in Madison, IL, 15 minutes from St. Louis, provides transportation and courier services to the agricultural, automotive and industrial industries, guaranteeing that part shipments placed in the late afternoon are delivered the next morning by 8 a.m., Tuesday through Saturday.
  • Customers of Lanter Delivery Systems include most major U.S. automakers, agricultural equipment and industrial manufacturers.

Objectives of Lanter Delivery Systems

  • The Lanter Delivery Systems executive team launched an initiative to grow via acquisition in 2016 by partnering with quality logistics companies that would provide opportunities for service and geographic expansion, density enhancement and new customer relationships.

Nolan’s Process Results

  • Nolan ran a buy side process that brought businesses of interest that aligned with the primary investment objectives directly to Lanter Delivery Systems’ executive leadership.
  • Nolan worked with the Lanter Delivery Systems executive team and counsel to formulate offers to Action and Cannon Express, then negotiated the business purchase transaction from start to deal close.
  • Both outcomes were a win-win for Lanter Delivery Systems and Action, and Lanter Delivery Systems and Cannon Express of the Southeast. They will allow for route consolidation, cross-selling and operational synergies that brought value to all parties.

Acquisition #1: Action Expediting in September 2016

  • Action, headquartered in historic Madison, Georgia, provides shippers with nationwide turnkey transportation and dedicated delivery services. Action serves customers in the Automotive, Retail and Industrial segments, among others with dedicated delivery and unattended “pre-8 a.m.” truck load delivery services.
  • Action’s customers, which include some of the Fortune 500, benefit from their ability to design and execute door-to-door deliveries via an extensive distribution network.
  • In addition to designing real-world logistics programs, Action’s services include the management of power and material handling equipment, fuel programs and regulatory compliance.
  • Action has operations throughout the U.S. including the Southeast, Southwest, Midwest, Northeast and the West Coast.

Acquisition #2: Cannon Express of the Southeast in January 2017

  • Cannon Express is a full-service, asset-based, “pre-8 a.m.” parts carrier offering unattended daily delivery services with real-time visibility for regional dealers and wholesalers through its 12 terminal locations across the Southeastern United States.
  • Cannon Express provides these services to Fortune 500 and other large corporations, primarily in the automotive and industrial distribution sectors.
  • The outcome was a win for both LDS and Cannon Express, presenting route consolidation, cross-selling and operational synergies that brought value to both parties.

About Nolan & Associates

Nolan & Associates is a boutique investment banking firm providing Mergers & Acquisitions and Capital Raise advisory services to middle market business owners and buyers.  Founded in 1976, Nolan is broadly recognized as a leading investment banking firm with Midwestern roots and global reach.  The Nolan team has completed hundreds of transactions in the middle market while working collaboratively from its offices in St. Louis, MO and Decatur, IL.

Securities offered through Middle Market Transactions, Inc.  Member: FINRA/SIPC.