The Jordan Co. is buying Capstone Logistics LLC from HIG Capital and MSouth Equity Partners.
Capstone is a logistics company that was formed in 2011 from the merger of LMS Intellibound and Progressive Logistics Services. The business provides outsourced supply-chain services to grocery, food service, retail and automotive industries. Terms of the deal were not disclosed.
New York private equity firm Jordan has more than $8 billion in capital under management. In May, the firm closed a $3.2 billion private equity fund. The firm is well-known for pioneering investments in China. For more, see our video with Jordan senior video president and former ACG chairman Andrew Rice, "Committing to China."
HIG Capital is Miami-based private equity firm that has more than $15 billion in equity capital under management. In August, the firm invested in online retailer Lulu's Fashion Lounge. MSouth, headquartered in Atlanta, Georgia, generally invests in middle market companies valued between $20 million and $125 million. The firm generally invests in businesses located in the southern U.S.
Other recent logistics transactions include Tritium Partners and StepStone Group's acquisition of a stake in Access Technology Solutions, which provides cross border e-commerce and logistics services, and Roadrunner Transportation Systems Inc.'s (NYSE: RRTS) purchase of Active Aero Group for $115 million.
Bob Baltimore, Ryan Nelson and Chris Williams from Harris Williams & Co. advised Capstone on the deal.