MADISON, Ill.--(BUSINESS WIRE)--Equity Group Investments (EGI), the private investment firm of Sam Zell, recently invested in and led a capital raise for Lanter Delivery Systems, a privately held company providing overnight unattended delivery service of time-sensitive parts for major auto, agriculture, and heavy-duty truck original equipment manufacturers (OEMs) and industrial supply and equipment distributors. Mark Sotir, Co-President of EGI, and Evan Harwood, Managing Director at EGI, will join the Lanter board of directors. Further terms and other investors in the transaction were not disclosed.
“We see Lanter as a great asset for a long-term investment,” commented Sam Zell, Chairman of Equity Group Investments. “The company has strong leadership in founder Steve Lanter and is poised for growth with a robust pipeline. In addition, this recession-resistant business has high barriers to entry due, in part, to its long-tenured blue-chip customer base.”
Lanter, based in Madison, IL, leases and operates nearly 100 cross-dock facilities across the U.S. The Company leverages its facility network to design shared delivery solutions for leading OEMs and global companies, many of which are among the Fortune 500.
“This infusion of capital positions us well to pursue new growth opportunities,” commented Steve Lanter, Founder and Chief Executive Officer. “EGI’s long-term capital is well suited for a family business and will support us for years to come. Our partnership with EGI will provide us with invaluable resources as we look towards the next phase of Lanter’s story.”
Lanter provides its overnight unattended delivery service to the dealer and branch locations of its OEM and distribution customers with nearly all deliveries completed by 8am the following day.
“We’re attracted to Lanter’s ability to maintain strong service levels while providing a more cost-effective alternative to the traditional dedicated delivery model,” Zell added. “At a time when industry capacity constraints continue to put pressure on carrier rates, we believe Lanter is well-positioned to provide a unique solution.”
Lanter Delivery Systems is a privately held company providing services for the overnight unattended delivery of time-sensitive parts and components for major auto, agriculture, and heavy-duty truck OEMs and industrial supply and equipment distributors. For more information visit lanterdeliverysystems.com.
About Equity Group Investments
Equity Group Investments (EGI) is the private investment firm founded by Sam Zell 50 years ago. Based in Chicago, EGI invests opportunistically across industries and geographies and throughout the capital structure. Current portfolio investments are in transportation and logistics, energy, waste and infrastructure, manufacturing, communications, healthcare, agribusiness, insurance, and real estate. EGI provides flexible capital and employs an engaged ownership approach to maximize the potential of its investments. For more information on EGI, visit www.egizell.com.