Hallcon Partners with New Investors GCM Grosvenor and Blue Wolf Capital Partners

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Hallcon Partners with New Investors GCM Grosvenor and Blue Wolf Capital Partners

GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, investing through its Labor Impact Strategy, and Blue Wolf Capital Partners LLC (“Blue Wolf”), a New York-based private equity firm with approximately $2.9 billion of assets under management, announced today that they have acquired Hallcon Corporation (“Hallcon” or the “Company”) from Novacap, a Canadian private equity firm. Terms of the transaction were not disclosed.

Hallcon is the leading North American provider of mission-critical transportation services and infrastructure for a broad range of customers including railroads, universities, airports, hospitals and healthcare systems, public transit, technology and industrial companies, and other large employers seeking custom transportation solutions. In addition, the Company provides essential cleaning, disinfecting, and facilities maintenance services to municipal, regional, and national rail and transit providers throughout the United States and Canada. Headquartered in Chicago, Hallcon has a coast-to-coast North American footprint, with direct operations across 29 U.S. states and six Canadian provinces. With Blue Wolf and GCM Grosvenor’s backing, the Company will be able to accelerate Hallcon’s expansion into new North American markets including Seattle, WA, Austin, TX, Atlanta, GA, Washington, D.C. and more. The firms also intend to enhance the Company’s ability to scale its electric vehicle (“EV”) charging infrastructure to continue supporting the evolving needs of its customers that are transitioning to electric fleets.

John R. Stoiber, President and CEO of Hallcon, said, “We are very excited to partner with GCM Grosvenor and Blue Wolf as we accelerate the growth of our services in new geographies and expand our EV charging network across North America. Their commitment to supporting the construction of critical EV infrastructure makes them the right partners for Hallcon, and we look forward to leveraging their relationships, resources, and expertise as we execute on our growth strategy.”

“Blue Wolf is pleased to partner with Hallcon, a leading platform in the outsourced transportation space. The Company has significant opportunity ahead to enhance its leadership position and drive growth as customers electrify their fleets,” said Jeremy Kogler, Managing Partner at Blue Wolf. “Hallcon has a reputation for best-in-class service and reliability, which is evidenced by the Company’s long-standing relationships with its blue-chip customer base. We look forward to joining the Company and GCM Grosvenor in the next phase of growth.”

“Hallcon is led by a management team of experienced operators who are well-equipped to help customers navigate the shift to electric vehicles, and our investment partner Blue Wolf shares our vision for value creation and growth,” added James DiMola, Executive Director at GCM Grosvenor. “In addition, the Company’s highly skilled workforce of drivers and dispatchers are integral to Hallcon’s success, and they do tremendous work to ensure that its customers are safe and satisfied.”

TD Securities served as financial advisor and Greenberg Traurig, LLP served as legal advisor to GCM Grosvenor and Blue Wolf in connection with the transaction. Houlihan Lokey served as financial advisor and Blake, Cassels & Graydon LLP served as legal advisor to Hallcon.

Read the Press Release.