Nolan Advised Lanter Delivery Systems in its Acquisition of Certain Assets of Cannon Express of the Southeast

DATE: January 03, 2017

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Who Is Our Client?

  • 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, 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 include most major U.S. automakers, agricultural equipment and industrial manufacturers.

Why Did Lanter Delivery Systems Hire Nolan?

  • The Lanter 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.

What Value Did Nolan Deliver?

  • Nolan ran a buy side process that brought businesses of interest directly to the Lanter executive leadership team that aligned with their primary investment objectives.
  • Nolan worked with the executive team and counsel to formulate an offer to Cannon Express of the Southeast, then negotiated the business purchase transaction from start to deal close.
  • 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.
  • Cannon Express ultimately represented an investment opportunity for Lanter to partner with a logistics industry leader and to grow in terms of their previously defined priority areas of opportunity for the business – service and geographic expansion, density enhancement and new customer relationships.
  • The outcome was a win for both Lanter and Cannon Express, presenting route consolidation, cross-selling and operational synergies that brought value to both parties.

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