We advised the initial purchasers on the high-yield notes offering

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A / Regulation S offering by Carriage Purchaser, Inc. of $300 million aggregate principal amount of its 7.875% senior notes due 2029 and guaranteed by certain of its subsidiaries. The notes are part of the debt financing provided to an investor group led by Gamut Capital Management, L.P. and British Columbia Investment Management Corporation in connection with the acquisition of PS Logistics.

Founded in 2004 and headquartered in Birmingham, Alabama, PS Logistics is one of the largest and fastest growing flatbed transportation and logistics providers in the United States. PS Logistics provides full-service transportation services, including asset-based transportation, non-asset-based transportation, brokerage, third-party logistics managed transportation, warehousing and supply chain services.

The Davis Polk corporate team included partner Shane Tintle and associates Ariel Rivera and Michael Jiang. Partner Po Sit provided tax advice. Partners Monica Holland and Vanessa L. Jackson and associates Bernard Tsepelman and Matt Diaz provided finance advice. Counsel David A. Zilberberg provided environmental advice. Partner Frank J. Azzopardi provided intellectual property advice. All members of the Davis Polk team are based in the New York office.

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