Ridgemont Equity Partners acquired Worldwide Express from affiliates of Quad-C Management. Ridgemont will merge its portfolio company, Unishippers Global Logistics, with Worldwide Express to form a new entity called Worldwide Express Global Logistics.

Antares Capital and Deutsche Bank are serving as joint lead arrangers on the debt financing, with Antares leading the first lien facilities and Deutsche Bank leading the second lien. Citizens Financial Group is a joint arranger of both facilities.

The combination of Worldwide Express and Unishippers will create the largest U.S. non-asset based third-party logistics provider of parcel and freight services to the small- and medium-sized business segment.

Current CEO of Worldwide Express, Tom Madine, will lead the combined business. Kevin Lathrop will continue to lead Unishippers, with members of the executive teams of both companies playing key roles on the combined executive team going forward.

Ridgemont will be the lead equity sponsor, alongside certain co-investors, affiliates and members of executive management. The transaction has received HSR approval and is expected to close in Q1/17. Financial terms of the transaction were not disclosed.

Fidus Partners and Harris Williams served as financial advisors to Worldwide Express and Quad-C. Piper Jaffray served as financial advisor to Unishippers. White & Case served as legal advisor to Quad-C. Kirkland & Ellis served as legal advisor to Ridgemont.