Gamut Capital Management and BCI’s Investment in PS Logistics

Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Gamut and BCI, and Weil, Gotshal & Manges LLP advised BCI. Kirkland & Ellis LLP advised PS Logistics on the deal.

Gamut Capital Management, L.P., a leading New York-based middle market private equity firm, in partnership with British Columbia Investment Management Corporation, one of Canada’s largest institutional investors, executed their investment in PS Logistics. As the largest and fastest-growing flatbed transportation and full-service logistics provider in the United States, PS Logistics employs a “driver-first” culture to transport general flatbed commodities with a specialization in irregular route service in the continental United States.

Financial terms of the transaction were not disclosed. The transaction is expected to close in the third quarter of this year, subject to customary closing conditions.

Founded in 2004 and headquartered in Birmingham, AL, PS Logistics is one of the largest and fastest growing flatbed transportation and logistics providers in the United States. 

Gamut Capital Management is a New York-based private investment firm managing $1.2 billion in assets focused on the middle market. Founded in 2015, Gamut’s senior deal professionals have executed investments in over 50 companies in North America and Europe.

With C$171.3 billion of assets under management as of March 31, 2020, British Columbia Investment Management Corporation (BCI) is one of Canada’s largest institutional investors. Based in Victoria, British Columbia, BCI is a long-term investor that invests across a range of asset classes: fixed income; public equities; private equity; infrastructure; renewable resources; real estate; and commercial mortgages.

The Paul, Weiss team included corporate partners Taurie Zeitzer (Picture), Brian Scrivani, Brian Kim, Catherine Goodall and Matthew Goldstein; tax partner Brad Okun; executive compensation partner Jarrett Hoffman; intellectual property partner Charles Googe; real estate partner Peter Fisch; litigation counsel Peter Jaffe; and antitrust counsel Marta Kelly.

Involved fees earner: Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Matthew Goldstein – Paul Weiss Rifkind Wharton & Garrison; Catherine Goodall – Paul Weiss Rifkind Wharton & Garrison; Charles Googe – Paul Weiss Rifkind Wharton & Garrison; Jarrett Hoffman – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Brian Kim – Paul Weiss Rifkind Wharton & Garrison; Brad Okun – Paul Weiss Rifkind Wharton & Garrison; Brian Scrivani – Paul Weiss Rifkind Wharton & Garrison; Taurie Zeitzer – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: British Columbia Investment Management Corporation; Gamut Capital Management, L.P.;

Author: Martina Bellini