Baker Tilly Capital, LLC Serves as Financial Advisor to Pegasus Transportation, Inc.

PHILADELPHIA (April 7, 2015) – Baker Tilly Capital, LLC, an investment banking firm specializing in advising middle market businesses, is pleased to announce that its client, Pegasus Transportation, Inc. (Pegasus) was acquired by CRST International, Inc., one of the largest privately-held transportation companies in the United States.

Baker Tilly Capital, LLC served as the exclusive financial advisor to Pegasus in connection with this transaction, developing and implementing a tightly orchestrated transaction process to a targeted group of potential strategic acquirers and private equity sponsors, culminating in the successful sale to CRST. The transaction closed on March 2, 2015.

Founded in 1988 and headquartered in Louisville, Ky., Pegasus is a leading provider of premium truckload freight services, with a focus on the high-security, temperature sensitive, health sciences sector and the critical, just-in-time automotive industry.

Gary Hanke, president of Pegasus Transportation said, “We are excited to be part of the growing family of CRST. With their support, we look forward to offering our customers a wider range of services in more locations.”

Dave Rusch, president and CEO of CRST International said, “CRST International is comprised of seven specialized transportation companies. We are always in search of adding companies to our portfolio that offer services which allow us to expand our capabilities for our customers. The acquisition of Pegasus Transportation further complements our service offering through high-value, high-security transportation services. We are thrilled to be working with the Hanke, Lockard and Pegasus families on this acquisition and look forward to growing Pegasus in their market,” added Rusch.

“The acquisition of Pegasus will allow CRST to expand its temperature controlled operations nationwide footprint through their expanded customer base.” said group president Mike Gannon. “For CRST and Pegasus it means improved fleet utilization and increased operating efficiencies. We look forward to working with the Pegasus employees and customers.”

The Baker Tilly Capital, LLC, team was comprised of Kevin J. Rudd, executive managing director, Jason M. Cunningham, managing director and Ryan Hurst, vice president. Scott Brinkman of Stoll Keenon Ogden PLLC served as legal counsel to Pegasus.

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Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,700 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 141 countries, with 28,000 professionals. The combined worldwide revenue of independent member firms is $3.8 billion.