Harris Williams & Co. Advises Capstone Logistics, LLC on its Sale to The Jordan Company
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Capstone Logistics, LLC (Capstone), a leading provider of outsourced supply chain solutions and portfolio company of H.I.G. Capital (H.I.G.) and MSouth Equity Partners (MSouth), to The Jordan Company. The transaction, which closed on August 22, 2014, was led by Bob Baltimore, Ryan Nelson, Chris Williams, and John Klim from Harris Williams & Co.’s Richmond office.
“Capstone has established itself as the preeminent platform and provider of outsourced supply chain solutions. The company is differentiated by its attractive value proposition and ability to improve productivity and provide quality service to its partners,” said Bob Baltimore, managing director and co-head of Harris Williams & Co.’s Business Services Group. “Harris Williams & Co. has enjoyed working with the management team and believes that they have found a terrific partner as they enter their next phase of growth.”
“Capstone management, H.I.G., and MSouth have built an outstanding platform that is positioned to execute on a dynamic growth strategy under its new ownership. The company’s unrivaled scale and scope position Capstone to capitalize on continued outsourcing trends and to capture share within a highly fragmented market,” said Ryan Nelson, managing director at Harris Williams & Co.
Capstone was formed in 2011 following the merger of LMS Intellibound and Progressive Logistics Services. Today, Capstone is the leading provider of outsourced supply chain solutions to grocery, foodservice, retail, and automotive industries, and offers a full suite of mission-critical services that optimize productivity, reduce costs, and enable its partners to outsource non-core, labor intensive functions.
H.I.G. Capital is a leading global private equity investment firm with more than $15 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 80 companies with combined sales in excess of $30 billion.
MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued between $25 and $125 million. Based in Atlanta, GA, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, distribution and specialty manufacturing companies. MSouth has more than $700 million under management in two active funds and is a successor to Cravey, Green & Wahlen, Inc., which was founded in 1984.
The Jordan Company, founded in 1982, is a middle market private equity firm that manages funds with original capital commitments in excess of $8 billion and a 32-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. The senior investment team has been investing together for more than 20 years, and they are supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.