CPE News (3.22.2023) – Westcap Mgt. Ltd. through Westcap MBO III Investment LP has invested in 18 Wheels Logistics to form 18 Wheels Holdings Limited Partnership.
Founded by Perry Wong, Burnaby, BC based 18 Wheels is a leading third-party logistics (3PL) provider that offers warehousing, transportation, co-packing and reverse logistics services. During its 30-year history, 18 Wheels has evolved from a small warehousing company to one of the largest 3PLs in Greater Vancouver.
photo credit: 18 Wheels
Westcap Mgt. Ltd. Announces Investment in 18 Wheels Holdings Limited Partnership
SASKATOON, SK, March 22, 2023 /CNW/ – Westcap Mgt. Ltd. (“Westcap”) is pleased to announce an investment in 18 Wheels Holdings Limited Partnership (“18 Wheels”) completed by Westcap MBO III Investment LP (“MBO III”), which is Westcap’s third buyout fund focused on succession and growth opportunities in Western Canada. Based in Burnaby, British Columbia, 18 Wheels is a leading third-party logistics (3PL) provider that offers warehousing, transportation, co-packing and reverse logistics services. During its 30-year history, 18 Wheels has evolved from a small warehousing company to one of the largest 3PLs in Greater Vancouver.
The company’s Vancouver real estate portfolio includes LEED certified, tier 1 properties and locations that are strategically positioned to efficiently transport freight from the Port of Vancouver and other locations across North America. Growing from its roots in British Columbia, 18 Wheels has expanded its warehouse footprint to include locations in Calgary, Toronto and the Northwest United States. As 18 Wheels increased its warehouse capacity, it also broadened its service offerings and has become known as a one-stop shop for logistics services. This growth has attracted numerous blue chip, multinational customers and enabled 18 Wheels to materially increase its revenue over the last several years. Mr. Grant Kook, President and CEO of the General Partner for MBO III states, “As trends in outsourcing, inventory management, and e-commerce continue to evolve, the North American 3PL market is expected to experience significant growth in the coming years. We are excited to be partnering with the experienced management team at 18 Wheels as we look to capitalize on these favorable market trends.”
18 Wheels is able to service a wide range of customers as a result of its extensive certifications and licenses. This includes certifications and licenses for the storing and handling of food and beverages, alcoholic beverages, and imported goods. The company’s customers include many of the world’s top retailers, beverage companies and logistics providers. 18 Wheels’ COO, Mr. Michael Kotendzhi, states, “The opportunities for both organic and inorganic growth in the 3PL space are clear to us and we are very pleased that we were able to partner with Westcap given its long history of success providing strategic guidance and mergers and acquisitions expertise to its portfolio companies. Westcap was the clear financial partner of choice when we saw how our cultures aligned. This partnership gives 18 Wheels the ability to continue to expand nationally and across North America.”
About Westcap Mgt. Ltd.
Founded over 25 years ago, Westcap is a leading private equity and venture capital fund manager having raised and completed transactions with an aggregate value of over $1 billion to date. Westcap has an uncompromising vision to build long-term value for investors by supporting visionary management teams in their growth and succession strategies. Our vast network of strategic partners and long history of success across Western Canada is grounded by our strong culture and integrity. Learn more at westcapmgt.ca.
About 18 Wheels Holdings Limited Partnership
Established over 30 years ago, 18 Wheels is a leading third-party logistics (3PL) provider of warehousing and logistics solutions with operations in Vancouver, Toronto, Alberta, Toronto and Washington State. 18 Wheels provides a single source solution for distribution, warehousing, transportation, and co-packing services. The Company has grown to one of the largest warehouse operators in western Canada and its clientele has grown to include some of the world’s leading companies, representing a vast array of industries and products/services provided. Learn more at www.18wheelslogistics.com.
SOURCE Westcap Mgt. Ltd.
For further information:
Grant J. Kook, President/CEO, Westcap Mgt. Ltd., Tel: (306) 652-5557; Mr. Michael Kotendzhi, COO, 18 Wheels Holdings Limited Partnership, Tel: (604) 439-8938