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Montway and Ship.Cars have been sold to AEA Investors

Southfield, MI – CFI USA (P&M Corporate Finance, LLC) is pleased to announce that it served as the exclusive financial advisor to Montway, Inc. (“Montway”) and Ship.Cars (collectively, the “Company”) in their sale to AEA Investors LP (“AEA”).

Headquartered in Schaumburg, IL (Montway) and Sofia, Bulgaria (Ship.Cars), Montway and Ship.Cars combine to offer leading automotive logistics solutions to consumers, auto haulers, and vehicle shippers across North America.

Montway is an asset-light, technology-enabled vehicle broker. It was founded to provide a user-friendly, hassle-free, and reliable platform for individual consumers to transport their vehicles.  Since its founding in 2007, Montway has grown to become one of the largest business-to-consumer (“B2C”) vehicle transport brokers in the United States.

Leveraging its expertise in data analytics and technology in the B2C market, Montway successfully expanded into the business-to-business (“B2B”) sector, diversifying its customer base to serve automotive OEMs and their financial institutions, auction houses, rental car companies, and dealer groups for their vehicle transport needs. Today, Montway’s service-oriented culture and technology-backed solutions provided by the Ship.Cars technology platform have propelled it to become one of the fastest growing vehicle transport brokers in the United States.

AEA is a leading private equity firm with committed funds targeting middle market investments. For this transaction, AEA partnered with industry veteran Tom Gartland, former President, North America for Avis Budget Group. Mihail Mihaylov, founder of Montway and Ship.Cars, remarked, “We are pleased to have found a partner in AEA with knowledge and resources that we can use to accelerate our growth trajectory. We are looking forward to working with AEA and Tom Gartland as we continue to grow and expand the business, while staying at the forefront of technology.”

CFI USA served as exclusive investment banker to the shareholders of Montway and Ship.Cars, managing the entire transaction process. Mihaylov added, “We hired PMCF to not only lead this transaction but advise us on deal preparation and timing to launch in order to maximize value. Completing a transaction during a global pandemic proved to be a complicated and challenging exercise, but the leadership and creativity of PMCF allowed us to complete a great transaction for our team.”

The transaction closed in November 2020.

 

The testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.

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