Key Takeaways
- • Equity Group Investments (EGI), the private investment firm founded by Sam Zell, completed the sale of portfolio company Lanter Delivery Systems to Audax Private Equity; terms were not disclosed.
- • Lanter operates overnight, unattended, time-critical delivery services across the United States and Canada, with a network of 120 hubs and forward cross-dock facilities in 48 states and over 13,000 stops a night.
- • Lanter serves OEMs and dealerships in automotive, agricultural, heavy truck, and industrial markets.
- • EGI held the investment for six years, during which Lanter expanded its network, service offerings, and geographic footprint.
- • J.P. Morgan was lead financial advisor to EGI, with Jefferies as an additional financial advisor; Kirkland & Ellis advised EGI legally and Ropes & Gray advised Audax.
Summary
Equity Group Investments (EGI), the private investment firm founded by Sam Zell in 1968, has completed the sale of its portfolio company Lanter Delivery Systems to Audax Private Equity, according to a Business Wire announcement dated March 31, 2025. Terms of the transaction were not disclosed.
Based outside St. Louis, Missouri, Lanter provides overnight, unattended delivery services across the United States and Canada. The company operates a nationwide network of 120 hubs and forward cross-dock facilities spanning 48 states and completes more than 13,000 stops a night. It uses this shared network to deliver time-critical solutions for original equipment manufacturers and dealerships in the automotive, agricultural, heavy truck, and industrial sectors.
According to the announcement, Lanter grew significantly during EGI's ownership through expansion of its network, service offering, and geography, while continued investment in technology, operations, and quality strengthened its customer value proposition. Mark Sotir, President and Chief Investment Officer of EGI, said the partnership allowed the firm to scale the business considerably over six years. Steve Lanter, Founder and CEO, described EGI as Lanter's first source of outside capital and said the company is positioned for sustained growth.
J.P. Morgan served as lead financial advisor to EGI, with Jefferies also acting as a financial advisor. Kirkland & Ellis LLP was legal advisor to EGI, and Ropes & Gray LLP advised Audax on the transaction.
Audax Private Equity, headquartered in Boston, manages approximately $19 billion in assets under management as of September 2024 and has invested in more than 170 platforms and 1,350 add-on acquisitions since 1999, according to the announcement.
Based outside St. Louis, Missouri, Lanter provides overnight, unattended delivery services across the United States and Canada. The company operates a nationwide network of 120 hubs and forward cross-dock facilities spanning 48 states and completes more than 13,000 stops a night. It uses this shared network to deliver time-critical solutions for original equipment manufacturers and dealerships in the automotive, agricultural, heavy truck, and industrial sectors.
According to the announcement, Lanter grew significantly during EGI's ownership through expansion of its network, service offering, and geography, while continued investment in technology, operations, and quality strengthened its customer value proposition. Mark Sotir, President and Chief Investment Officer of EGI, said the partnership allowed the firm to scale the business considerably over six years. Steve Lanter, Founder and CEO, described EGI as Lanter's first source of outside capital and said the company is positioned for sustained growth.
J.P. Morgan served as lead financial advisor to EGI, with Jefferies also acting as a financial advisor. Kirkland & Ellis LLP was legal advisor to EGI, and Ropes & Gray LLP advised Audax on the transaction.
Audax Private Equity, headquartered in Boston, manages approximately $19 billion in assets under management as of September 2024 and has invested in more than 170 platforms and 1,350 add-on acquisitions since 1999, according to the announcement.
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