Greenbriar Equity Group has agreed to sell outsourced yard management service business Lazer Spot to fellow private equity house Harvest Partners.
Lazer Spot, which was founded in 1996 provides services including trailer spotting and shuttling for over 100 blue chip customers across the consumer packaged goods, food and beverage, pulp and paper, retail and other industrial sectors.
Greenbriar managing partner Jill Raker said the company had been through “a period of strong growth” since the firm’s buyout in 2015.
Harvest said Lazer Spot would be actively pursuing both tuck-in and transformative acquisitions of other spotting and shuttling businesses following its buyout.
Lazer Spot and Greenbriar were advised by Harris Williams & Co and Kirkland & Ellis.
AltAssets revealed in October last year that Greenbriar was more than halfway through raising a hoped-for $1bn for its fourth fund after registering over $607m of commitments.
The firm is yet to publicly reveal final close details for the vehicle.
Harvest Partners was said to have launched a $3.25bn eighth fundraise in December last year, but is also yet to say if a final close has been reached.
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