An affiliate of H.I.G. Capital, a global alternative investment firm, signed a definitive agreement to acquire Capstone Logistics, a provider of outsourced supply chain solutions, from an affiliate of The Jordan Company.
Capstone’s existing management team, led by CEO Steve Taylor, will continue to lead the company and remain as shareholders in the business. The Jordan Company also will retain a minority equity stake. H.I.G. previously owned Capstone from 2011 to 2014.
“Over the past several years, we have grown our national footprint and expanded our service offerings from predominantly inbound logistics to include other inside-the-warehouse services, plus integrated freight brokerage, last-mile and payments services,” Taylor said. “The Capstone management team is excited to partner again with H.I.G. as we continue to provide our associates with a great place to work and further enhance our integrated supply chain solutions to serve our Partners’ evolving needs.”
“We are delighted to partner again with Steve and the Capstone team,” Matt Hankins, managing director at H.I.G, said. “We believe there is immense opportunity ahead for Capstone. The Company provides critical, first-rate services to its partners and is well positioned to continue on an accelerated growth trajectory both organically and through acquisitions.”
“Steve and the rest of the Capstone team have done a phenomenal job executing and growing the business. We are excited to continue investing alongside the Capstone team and look forward to working with the Company and H.I.G. throughout this next stage of growth,” Brian Higgins, partner of The Jordan Company, said.
The transaction is expected to close in November.
Harris Williams and Credit Suisse Securities served as financial advisors and Kirkland & Ellis served as legal counsel to Capstone. J.P. Morgan served as financial advisor and Ropes & Gray served as legal counsel to H.I.G.
