Cox Transportation Services acquires truckload freight services firm Outwest

Based in Ashland, Virginia, Cox provides freight hauling and brokerage services.

  • Expedition Capital Partners and Prudential Private Capital led a concurrent majority recapitalization of Cox
  • John Gamero of FV Advisory Group served as financial advisor to Outwest on the deal
  • The acquired business will continue to operate under the Outwest brand

Cox Transportation Services has acquired El Paso, Texas-based Outwest Express, a provider of truckload freight services.

Also, Expedition Capital Partners and Prudential Private Capital led a concurrent majority recapitalization of Cox in support of the Outwest acquisition and Cox’s continued strategic growth plans.

Truist served as the lead senior debt financing partner across a five-bank syndicated deal.

Based in Ashland, Virginia, Cox provides freight hauling and brokerage services to customers in a diversified group of industries across the U.S.

Outwest was established in 2010 by Michael Puzio and Zachary Chilson. Outwest operates a fleet of more than 400 tractors and 1,200 trailers serving a diversified group of more than 300 customers across the retail, medical, manufacturing, automotive and electronics industries.

The acquired business will continue to operate under the Outwest brand.

Mike Hendrie, founder and managing director of Expedition Capital Partners, said in a statement, “We had a well aligned strategy when partnering with Jay and team two years ago – find other best of breed companies with blue chip customers that share the culture and values of Cox in order to build a much larger, world-class transportation company with enhanced offerings for our customers. We are very proud that we have been able to accomplish this goal in our combination with Outwest, Michael Puzio and Zach Chilson, and we look forward to working closely with them as we continue to grow the platform.”

John Gamero of FV Advisory Group served as financial advisor to Outwest, and Scudder Law Firm, P.C., L.L.O. acted as legal advisor. Williams Mullen and Scopelitis, Garvin, Light, Hanson & Feary, P.C. acted as legal advisors to Cox with respect to the Outwest acquisition. Katten Muchin Rosenman LLP acted as legal advisors to Cox with respect to the recapitalization transaction.

Cox was formed in 1982.

ECP targets the middle and lower-middle markets.

Prudential Private Capital manages a portfolio of over $92.7 billion for our partners, as of September 30, 2022.