After Robert’s passing in 2010, Joel Rose, a longtime friend of Robert Kerr and Senior Partner for Aird & Berlis, was appointed executor of Robert Kerr’s Estate. On behalf of the estate Joel engaged Spara Capital to sell Blue Star. Spara went to market to find a strategic qualified suitor that would continue to operate the business as a going concern. Blue Star and its legacy garnished a fair amount of interest within the market. After much negotiation with numerous parties, it was clear that West Van was the most qualified buyer.
Eric Waxman, Managing Director of Spara Capital commented on the sale of Blue Star, “It was obvious from inception that Blue Star would be a ‘value add’ acquisition for a synergistic buyer with a significant asset group comprised of vans and specialty equipment. The opportunity for the right buyer was an immediate expansion of its service and equipment varieties to their existing and future clientele. After an intensive strategic marketing campaign, it was clear that the best fit was West Van.”
Joel Rose on the sale of Blue Star, “We are very happy with the M&A services that Spara provided. They went above and beyond their mandate as they not only executed on everything they said they would do, but also helped with managerial input of the business throughout the process. Their business acumen accompanied with M&A expertise made the sale of Blue Star a seamless process. Thank you.”
The Blue Star transaction has now expanded West Van’s service capability to its existing client base and further diversified its asset base. Richard Gladden, President and CEO of West Van, is quoted on the acquisition; “The two legacy trailer rental businesses are now one. Spara provided a clear process that kept the acquisition on track while providing a smooth median from start to finish. They represented their client well. We are very happy with the acquisition of Blue Star”
This is the third transaction completed by Spara’s Transportation & Logistics Services practice, which continues to build momentum and a solid reputation for success in this important industry.
About Spara Capital
Spara Capital Partners Inc. is a boutique investment and merchant banking firm that provides customized corporate finance and mergers and acquisitions services to private and micro-cap public businesses with revenues in the range of $10 to $100 million. Via Spara Merchant Capital Corp, the firm invests in small, privately owned businesses with revenues and enterprise values of less than $10 million. Spara’s Transportation and Logistics Advisory division focuses on providing mergers, acquisitions, divestitures and financing services for the trucking industry.
For additional information on Spara Capital Partners and its affiliated companies, please visit www.sparacapital.com.