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ATLANTA, Georgia – May 12, 2008
– VVS Capital LLC and Navigation Capital Partners, two Atlanta-based
private equity firms, today announced the acquisition of James Brown
Contracting, Inc. and its subsidiaries Brown Trucking Company and
JBT Brokerage, Inc. (collectively, “Brown”). VVS and
Navigation formed James Brown Holdings, LP as part of the transaction.
Founded in 1976 and based in Lithonia, Georgia, Brown is the premier
dedicated freight carrier in the southeastern United States with
11 strategically placed terminals located in the Southeast and Mid-South.
With 500 trucks and more than 3,000 trailers, Brown is the leading
dedicated freight transportation provider to the paper and packaging
industry. Brian Kinsey will become Brown’s chief executive
officer and founder James W. Brown will continue in an executive
role with the Company.
“Along with the industry-leading performance of our employees
and drivers, the resources of VVS and Navigation will provide a
key element of our plan to grow the company while preserving its
successful structure,” said founder James W. Brown. “We’re
excited to welcome Brian to this experienced management team and
look forward to the continued growth and success of the Brown brand.”
Kinsey is a nationally recognized trucking executive with experience
in several other leading companies including Landstar System, CarrierPoint,
Bennett Motor Express, Dobbs Houses and North American Van Lines.
Through his leadership of these organizations, Kinsey established
himself as a leading expert on effective safety programs and owner
operator trucking operations. He is a graduate of Georgia Tech and
Harvard Business School.
“The capital and operating expertise provided by VVS and
Navigation will elevate the excellent platform that Brown represents
to a new level as it continues to provide premium service to its
customers,” said Kinsey. “The firms recognize the incredible
potential of Brown and the value created by its standing as the
best trucking company in the Southeast. With access to VVS and Navigation’s
resources and the support of our great employees, owner-operators
and customers, we will continue to build and grow Brown into a world-class
freight logistics provider.”
“The tradition and legacy of James Brown’s attention
to service represents the business model that VVS admires. By combining
Brown’s history of reliable service and attention to customers
with the resources of VVS and Navigation, Brown can achieve solid
growth for many years.” said Pete Vaky, Co- Founder and Managing
Partner at VVS Capital. John Van Slooten, Co-founder and Managing
Partner at VVS commented: “We anticipate working with the
knowledgeable management team and Brian to help Brown grow to reach
its full potential. This company is well positioned to continue
to increase its leadership position in the transportation industry.”
Financing for this transaction was provided by Wells Fargo Bank,
N.A. and John Hancock Life Insurance Company, its affiliates and
affiliate-managed funds. VVS was represented by Stuart C. Johnson
from Powell Goldstein LLP. Navigation was represented by Joseph
B. Alexander, Jr., Daniel P. Rollman and Kevin Hull from Hunton
& Williams LLP. Brown was represented by David A. Flanigan,
Jr. and Timothy M. Silvis from Miller & Martin PLLC and advised
by Miller Welborn of Transportation Capital Partners, LLC. John
Hancock was represented by Nicole L. Rives and Megan Smiley of Sullivan
& Worcester LLP. Wells was represented by Edgar C. Snow, Jr.
and Lindsey R. Arnold from Burr & Forman LLP.
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