Private equity fund invests in truck line

Oct. 15, 2007
Evergreen Pacific Partners, a $275 million private equity fund based in Seattle, has made an undisclosed investment in Haney Truck Line

Evergreen Pacific Partners, a $275 million private equity fund based in Seattle, has made an undisclosed investment in Haney Truck Line, gaining a controlling interest in the truckload carrier.

Haney’s existing management team of Mike Richardson (president & CEO), Dave Richardson (COO) and Dennis Richardson Jr. (vp-marketing & sales) will continue to manage the company’s operations and maintain a significant ownership share of Haney, as well as full ownership of the terminal properties. Three Evergreen Pacific Partners executives will become Haney board members.

With over 500 employees, 400 tractors and 1,000 trailers, Haney is one of the largest truckload carriers in the greater Pacific Northwest. Yakima, WA-based Haney primarily hauls beverages, paper, glass, aluminum, food and other general merchandise throughout the eight Western U.S. states.

“We saw this as the right time to bring in additional resources for us to build the business,” said Mike Richardson. “We see tremendous opportunity for growth, and we now have the resources to pursue it.” He added Evergreen will help them expand Haney’s operations within the Northwest region and nationally.

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