SOURCE: Cascadia Capital

Cascadia Capital

May 18, 2011 09:00 ET

Cascadia Capital Advises Interstate Distributor Co. in Acquisition by Saltchuk Resources

Firm's Middle Market Practice Instrumental in Structuring Significant Transportation Industry Transaction

SEATTLE, WA--(Marketwire - May 18, 2011) - Cascadia Capital, a diversified, boutique investment bank serving both private and public growth companies around the globe and in the Pacific Northwest, today announced it advised Tacoma, Wash.-based Interstate Distributor Co., one of the largest providers of truckload service in the country, in its recent acquisition by Saltchuk Resources, Inc. Saltchuk is acquiring 100 percent of the stock in the company and has committed to investing substantive resources in Interstate upon closing. Interstate will continue to operate independently under their existing brand. This deal represents the third in a series of transactions over the last 6 months for Cascadia Capital's Middle Markets practice area, following Thrift Recycling's $8.5 million growth equity investment from QuestMark Partners, and Xenon Arc's $15 million capital raise from Weston Presidio.

"Cascadia was the ideal partner for Interstate in this transaction. They brought in-depth knowledge of the transportation market, demonstrated expertise in mergers and acquisitions involving middle market companies, and strong connections to both strategic and financial buyers that proved instrumental in securing a buyer like Saltchuk," said George Payne, CEO of Interstate. "Cascadia's diligence in bringing Saltchuk to the table resulted in an acquisition that will preserve the Interstate brand and bring fresh resources to the company, allowing us to maintain a leading role in truckload transportation."

Interstate was founded in Tacoma, Washington in 1933 as a produce transportation company. Over the past several decades, the company has grown from a one-truck operation to one of the leading transportation service providers in North America, with a fleet of 1,700 trucks and $433.9 million in revenue in 2010. Pursuant to the acquisition, Interstate will become one of several independently managed operating companies within Saltchuk Resources, a Pacific Northwest company with diversified operations, including transportation. The transaction, valued well in excess of $100 million including real estate, reflects a strong market for companies of scale in the transportation sector, as well as continued growth among middle market companies in the Pacific Northwest.

"The team at Cascadia Capital did an exceptional job of identifying a match between Saltchuk and Interstate both on a business and cultural level with our mutual respect and commitment to family business," said Mark Tabbutt, Chairman of Saltchuk. "This transaction provides Saltchuk the opportunity to expand its capabilities and operations in the transportation industry, and reflects the growing opportunity in the truckload market. This acquisition is further evidence of our strong commitment to provide the highest quality and range of services for our customers."

"This landmark combination of two world-class Pacific Northwest family companies demonstrates both the significant growth opportunities in the transportation industry with the upswing in the economy, and the much improved M&A markets for companies throughout the middle market in this region," said Christian Schiller, Managing Director of the Middle Market practice at Cascadia Capital. "The deal showcases Cascadia's proven transaction expertise and relationships in the industry, and our in-depth understanding of the dynamics shaping the middle market sectors in the Pacific Northwest."

About Cascadia Capital, LLC
Cascadia Capital is a diversified, boutique investment bank serving both private and public growth companies around the globe. Cascadia's business is diversified in terms of the industries the firm covers -- Information Technology, Sustainable Industries and Middle Market -- and in terms of the range of advisory services it provides -- Mergers and Acquisitions, Corporate Financing and Strategic Advising. This diversification provides the firm with stability amidst market fluctuations. Cascadia is a pure advisory firm, and unlike other investment banks, is not conflicted by trading, lending, research or cross selling business. For over a decade, the firm has delivered the best outcomes for clients based on its transaction experience, domain expertise and commitment to building long-term relationships. Cascadia always acts in the long-term interests of clients, and honors its position as a trusted advisor. For more information, visit

About Interstate Distributors Co.
Headquartered in Tacoma, WA, Interstate Distributor Co. is a leading provider of transportation services. Services include local, regional and transcontinental coverage, specialized, heavy haul and refrigerated equipment, dedicated fleets, and intermodal and logistics management services. With terminal and yard facilities located in all major markets throughout the United States, Western Canada and the Mexican border industry, IDC has grown to establish a national presence in the transportation industry. Established in 1933, IDC currently has more than 2,500 employees and is one of the largest privately-owned carriers in the United States. For more information visit Interstate Distributor Co. at

About Saltchuk Resources, Inc.
Formed in 1982, Saltchuk is a family-owned, privately-held company with more than 5,000 employees. Headquartered in Seattle, WA, Saltchuk operates 20 different companies organized into five groups: Shipping & Logistics, Air Cargo, Marine Resources, Pacific Northwest Real Estate and Petroleum Distribution & Marketing. For more information, visit

Contact Information

  • Contact:
    Rachel Mandell-Rice
    Barokas PR for Cascadia Capital
    Email Contact