General Logistics Systems buys Halifax-backed Golden State Overnight

The Halifax Group‘s portfolio company Golden State Overnight (GSO) was acquired by General Logistics Systems, a subsidiary of Royal Mail plc. BB&T Capital Markets‘ Logistics and Transportation Group advised GSO on the deal.


On September 30, 2016, Golden State Overnight (“GSO” or the “Company”), a portfolio company of The Halifax Group, was acquired by General Logistics Systems (“GLS”), a subsidiary of Royal Mail plc. BB&T Capital Markets served as financial advisor to GSO.

“We are thrilled to have represented GSO’s shareholders in this transaction. As a leader in the overnight delivery industry, GSO represents a compelling platform for Royal Mail to execute its strategic expansion into the U.S.,” said Hugh Rabb, Managing Director and Co-Head of the Logistics & Transportation Group at BB&T Capital Markets.

Logistics and Transportation Group

BB&T Capital Markets’ Logistics and Transportation Group provides M&A, capital-raising advisory, and corporate banking services to companies in the logistics and transportation industry, including third-party logistics providers (freight forwarding, contract warehousing, truck brokerage), trucking (truckload and LTL), marine transportation (inland barge and international shipping), railroads, transportation equipment, and waste services. Within the logistics and transportation industry, BB&T Capital Markets has completed more than 60 investment banking transactions since 2010.

Golden State Overnight

GSO is a leading provider of overnight delivery services to every address in California and metropolitan regions of Nevada and Arizona. The Company was founded in 1995, is based in Pleasanton, California, and serves its customers from 36 facilities throughout the Western U.S. With a focus on exceptional service levels, web-enabled systems and a 100% employee-based delivery model, GSO offers its customers the most flexible overnight delivery service in the industry.

The Halifax Group

The Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and grow leading lower middle-market businesses with revenues generally between $25 million and $300 million across a variety of industries, including business services, transportation and logistics, health and wellness, infrastructure, and franchising. The firm maintains offices in Washington, D.C.; Dallas, TX; and Raleigh, NC.

General Logistics Systems (a subsidiary of Royal Mail plc)

With its ground-based network, GLS is one of the leading parcel service providers in Europe. GLS provides reliable, high-quality deferred parcel services to over 220,000 customers, complemented by logistics and express services. The group provides network coverage of 41 European states via wholly owned and partner companies, and it is globally connected via contractual agreements. GLS is owned by Royal Mail plc, the parent company of Royal Mail Group Limited, the leading provider of postal and delivery services in the UK.