Here's the Deal
 

Baird's Investment Banking Group is pleased to announce the following transaction:

October 2010


ATC Technology Corporation
Sale to GENCO Distribution System, Inc.
$512.6 Million


Baird served as the exclusive financial advisor to ATC Technology Corporation


ATC Technology Corporation (“ATC” or the “Company”) (formerly NASDAQ:ATAC) recently completed its merger with GENCO Distribution System, Inc., (“GENCO”), a privately held third-party provider of logistics services. GENCO acquired ATC for $513 million in cash, or $25.00 per share. The acquisition was financed through the proceeds of approximately $112 million from the sale of GENCO shares to Greenbriar Equity and from borrowings under a $450 million new line of credit extended to GENCO by PNC Bank and Wells Fargo Bank and through cash on hand.

ATC provides comprehensive engineered solutions for logistics and refurbishment services to the consumer electronics industries and the light-, medium- and heavy-duty vehicle service parts markets through its Logistics and Drivetrain businesses. The Logistics business offers supply chain services including fulfillment, returns management, reverse logistics, packaging and test and repair, primarily to the wireless, high-end consumer electronics, broadband and cable, and light vehicle automotive electronics markets. The Drivetrain business provides customized remanufacturing services focused on complex light- , medium- and heavy-duty vehicle drivetrain products.

ATC employs approximately 3,200 people worldwide and the Logistics and Drivetrain businesses accounted for sales of approximately $345 million and $140 million, respectively, in fiscal 2009.

GENCO is North America’s second largest and a Global Top 50 third-party logistics provider and the recognized leader in reverse logistics. GENCO manages 112 operations and 37 million square feet of warehouse space throughout North America for a diverse range of retail, manufacturing and government customers, including many Fortune 500 companies. GENCO provides initial and ongoing value through a complete range of solutions, including contract logistics, transportation logistics, parcel negotiation and audits, reverse logistics, damage research, product liquidation, pharmaceutical services, government solutions and supply chain technology solutions.

Greenbriar Equity Group is a private equity firm with $1.5 billion of committed capital focusing exclusively on investments in the global transportation industry.

For additional information about this transaction, please contact:
Managing Director
414.298.7648
Managing Director, Head of Global M&A
312.609.4983
Vice President
414.298.7358

Social Icons

Careers|Help|Site Map|Important Disclosures|Privacy Policy|Financial Information|Business Continuity
©2013 Robert W. Baird & Co. Incorporated.
Global Websites: Europe | Asia
The services featured on this Web site may not be available in all jurisdictions or to all persons/entities. For more information, please see Important Disclosures. Robert W. Baird & Co. Incorporated. Member SIPC.