Harris Williams Advises Cardinal Logistics Management Corporation on its Sale to H.I.G. Capital

June 10, 2019

Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Cardinal Logistics Management Corporation (Cardinal), a portfolio company of funds advised by Centerbridge Partners, L.P. (Centerbridge), on its sale to an affiliate of H.I.G. Capital (H.I.G.). Cardinal is a leading, nationwide third-party logistics provider. The transaction was led by Frank Mountcastle, Jason Bass, Jeff Kidd, Jon Meredith and Nick Petrick of Harris Williams’ Transportation & Logistics (T&L) Group.

“We are proud to have represented Cardinal on its sale to H.I.G.,” said Frank Mountcastle, a managing director at Harris Williams. “Cardinal is a leading provider in the dedicated contract carriage segment, and we look forward to watching the next phase of the company’s growth after achieving this important milestone.”

“We are excited for the new partnership between Cardinal and H.I.G.,” added Jeff Kidd, a director at Harris Williams. “H.I.G. is an excellent go-forward strategic partner for Cardinal and will be able to help the company capitalize on numerous growth opportunities.”

Headquartered in Concord, North Carolina, Cardinal is a privately-held, leading third-party logistics provider focused on providing dedicated contract carriage, final mile delivery, facility-based logistics and transportation management services to multiple industries across the nation. Cardinal’s logistics experts work directly with clients to optimize their supply chains by developing and implementing customized transportation solutions including specialized equipment and handling, and integrated technology.

Centerbridge is a private investment management firm employing a flexible approach across investment disciplines – from private equity to credit and related strategies, and real estate – in an effort to find the most attractive opportunities for investors and business partners. The firm was founded in 2005 and as of December 2018 has approximately $28 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies to help companies achieve their operating and financial objectives.

H.I.G. is a leading global private equity and alternative assets investment firm with over $30 billion of equity capital under management. Based in Miami, Florida, H.I.G. has European offices in London, Hamburg, Madrid, Milan and Paris, as well as U.S. and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Stamford, Bogotá, Rio de Janeiro and São Paulo. The firm specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally-focused/value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams’ T&L Group serves companies in a broad range of attractive niches, including third-party logistics, automotive and heavy duty vehicle, transportation equipment, and truck, rail, marine and air transportation. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.