Comment / STG Logistics – the deal that broke the intermodal playbook

ID 97418462 © Erikreis | Dreamstime.com

In a nutshell: The fourth-largest US domestic intermodal provider is in Chapter 11 with $1.2 billion in debt, a lender war, and a sale toggle that just hit its deadline. What happens to 15,000 containers and who’s watching the clock? (My previous coverage from mid-Jan can be found here)

There is a particular species of private equity acquisition that looks brilliant in the PowerPoint and catastrophic in the rearview mirror. STG Logistics’ $710m purchase of XPO’s North American intermodal division (one ...