Neovia Logistics Launches New Financing as Part of Comprehensive Recapitalization
Press Release | 04.03.19

Includes Up to $165 Million New Equity Investment from Existing
Sponsors and Continued Support from Existing Note Holders

Highlights Confidence in Strength of Underlying Business

IRVING, Texas – April 3, 2019 – Neovia Logistics (“Neovia” or the “Company”), a global supplier of logistics services, today announced the launch of marketing for a First Lien financing as part of its efforts to complete a comprehensive recapitalization and refinancing of the Company’s balance sheet.

The Company is seeking a First Lien financing, which is expected to consist of a $75 million Super-Senior Revolver and a $325 million First Lien Term Loan. In addition to the First Lien financing, the recapitalization will include a $200 million Second Lien Term Loan investment from the Company’s existing unsecured note holders and a preferred equity investment of up to $165 million of new equity from Neovia’s existing sponsors, Goldman Sachs Merchant Banking Division and Rhône Capital.

“We are pleased to have reached agreements with our private equity sponsors and note holders, which will support our efforts to complete a comprehensive recapitalization and establish the right capital structure for our business over the long-term,” said Pat Olney, Chief Executive Officer of Neovia. “We appreciate the continued confidence of our owners and note holders in the strength of our underlying business and future opportunities for growth. We are continuing to achieve strong operating results and remain focused on helping our customers enhance their performance and handle complex logistics needs.”

“We look forward to furthering our partnership with the Neovia team,” said Franz-Ferdinand Buerstedde, Managing Director at Rhône Capital. “Since 2015, we have supported the Company’s industry-leading supply chain capabilities and this latest investment is an opportunity to be a part of Neovia’s continued growth.”

“Neovia is one of the most trusted and innovative logistics services providers,” said Charlie Gailliot, Managing Director in the Goldman Sachs Merchant Banking Division. “We look forward to further supporting Neovia as it continues to provide value to its customers across the globe in the years to come.”

Neovia will use the proceeds of the financing to refinance its existing revolver, secured notes and unsecured notes. The Company also will use the proceeds to bolster the Company’s pro forma liquidity and provide additional financial flexibility.

The recapitalization is subject to certain conditions including the marketing and completion of the First Lien financing and execution of definitive documentation with respect to the First Lien Financing and Second Lien Financing.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


Centerview Partners LLC is serving as financial advisor to Neovia, and Davis Polk & Wardwell LLP is serving as its legal advisor. Goldman Sachs Lending Partners LLC is serving as lead arranger on the First Lien financing.

About Neovia Logistics

Neovia is a global leader in third-party logistics, operating more than 100 facilities in 20 plus countries across six continents. For over 30 years, Neovia has combined an OEM mindset with real-world innovation to partner with, and solve complex logistics challenges for, leading companies in the automotive, industrial, aerospace and technology sectors.

Stephen Boone
Communications Director, Neovia Logistics