Logistics & Distribution Acquisitions in 2022

Acorn Distributors has acquired Unisan, a provider of janitorial, warehouse and safety supplies. Blue River Financial Group advised Unisan on the sale; the transaction brings Unisan's facility-management products and services into Acorn's regional distribution platform to expand product offerings and geographic reach.

The Sterling Group has completed the acquisition of Gulf Winds International, a family-owned intermodal transportation provider headquartered in Seabrook/Houston, Texas. Sterling said it will partner with Gulf Winds’ management to accelerate growth and expand the company’s reach in the U.S. import/export and rail container drayage markets.

Graybar has completed the acquisition of CX Connexion, an electrical distributor based in Buffalo Grove, Illinois. CX Connexion will continue to operate under its existing name and leadership as a subsidiary of Graybar, which said the deal will accelerate its growth in the Chicago market.

Comvest Partners has made a strategic private equity investment to acquire Flash Global, a Parsippany, New Jersey-based provider of post-sales service supply chain and warehousing solutions. Flash Global will become a new platform in Comvest's private equity portfolio and will continue to be led by CEO Sam Mikles as the firm supports the company's next phase of growth and capability expansion.

Imperial Dade has acquired Country Clean Paper Supplies, a foodservice packaging and janitorial supplies distributor headquartered in Ocean Township, New Jersey. Financial terms were not disclosed; the deal expands Imperial Dade's footprint and product offering in the Northeast and is the company's 58th acquisition under Robert and Jason Tillis.

48forty Solutions, a Houston-based pallet management platform backed by Audax Private Equity and Summit Partners, has acquired Dependable Pallet Logistics, an Inland Empire-based pallet management and manufacturing company. The acquisition expands 48forty's presence and capacity in Southern California; terms were not disclosed.

Red Arts Capital acquired FLEX Logistics (Eastvale, CA) and combined it with its existing Partners Warehouse platform (Elwood, IL) to create Partners Warehouse Holdings, a national 3PL/warehousing platform. Graycliff Partners provided a unitranche debt financing to support Red Arts' acquisition and the merger, enabling cross-selling and expansion of warehousing and transloading capabilities.

Larry's Cartage, a Chicago-area drayage and intermodal services provider, was acquired by U.S. MultiModal Group, Inc. The business becomes the sixth drayage operation under ARC's platform (ARC Industries/US MultiModal Group), with ARC and several undisclosed investors taking minority stakes to expand the group's intermodal footprint and provide additional capital.

Harbor Wholesale, a family-owned distributor based in Lacey, Washington, has acquired Modesto, California–based MTC Distributing Co. The deal combines regional distribution networks across the West Coast, preserves MTC's local management (Tom Eakin remains in an advisory role), and increases purchasing scale and service coverage for convenience stores, independent grocers, and quick-serve restaurants.

QuickBox Fulfillment, a portfolio company of Pike Street Capital, announced a strategic investment in El Mar Logistics, adding El Mar’s ~225,000 sq.ft. Carson, California facility to QuickBox’s network. The deal expands QuickBox’s West Coast footprint and access to major ports, with Pike Street providing additional capital and El Mar’s leadership joining the combined organization.

Revolution Capital Group, a Boston-based private investment firm, has entered into a definitive agreement to acquire Contec LLC, a Schenectady, New York-based provider of forward and reverse logistics plus testing, repair and refurbishment services, from Garrison Investment Group. Financial terms were not disclosed; Garrison had owned Contec since 2012 and Revolution said it will support Contec's future growth under new ownership.

MercuryGate International, Inc. has acquired ClearTrack Information Network to extend its ocean freight procurement, real-time shipment visibility and trade compliance capabilities. ClearTrack, founded in Brentwood, Tennessee, brings container-, order- and item-level tracking and compliance monitoring to MercuryGate's end-to-end transportation management platform; financial terms were not disclosed.

Alba Wheels Up, backed by Southfield Capital, acquired San Francisco-based customs broker KSI Corp., adding a Bay Area office and expanding Alba’s expertise into the biotech and semiconductor end markets. The deal was financed with debt from Deerpath Capital Management and expands Alba’s West Coast footprint alongside its existing offices.

Kamps, Inc., a national pallet company backed by Freeman Spogli & Co., has acquired Realm Companies LLC, a Newton, Iowa–based pallet manufacturing, recycling and warehousing platform that also includes WestWind Logistics LLC. Realm — a portfolio company of Great Range Capital — has about 180 employees across nine warehouse and manufacturing locations; all Realm and WestWind employees (including owner Chris Barton) will transition to Kamps following the deal. The acquisition expands Kamps' Midwest capabilities, adding pallet lifecycle management, reverse logistics and on-site TPM services.

Echo Global Logistics, a Chicago-based provider of technology-enabled transportation and supply chain services, acquired Fastmore Logistics, a Chicagoland non-asset-based transportation broker focused on serving international freight forwarders. The acquisition expands Echo's access to expedited brokerage capacity and provides entry into the international freight forwarding market while preserving Fastmore’s existing operations and team.

Ryder System, Inc. acquired Dotcom Distribution, an e‑commerce and omnichannel fulfillment provider that serves high-growth retail brands in health & beauty and fashion. The deal adds a 400,000-square-foot multiclient fulfillment facility in Edison, New Jersey and brings roughly 100 Dotcom employees and its leadership team into Ryder to expand Ryder's e‑fulfillment capabilities and national footprint.

Magnate Worldwide, a diversified supply chain management company, has acquired Atlantic-Pacific Express, a mission-critical expedited logistics provider based in Columbia, South Carolina. The deal expands Magnate's expedited and domestic-specialty service capabilities, strengthens its presence in the Southeast, and augments its ASAP Expediting offerings.

Grammer Logistics, a PE-backed hazardous chemicals transportation and logistics provider, has acquired Logistics Management Resources, Inc. (LMR), a Baton Rouge–based third-party logistics and transportation management provider focused on chemicals and industrial gases. The acquisition, completed Oct. 24, 2022, expands Grammer's transportation management capabilities and complements its asset and non-asset service offerings as part of its PE-backed growth strategy.

Quantix, a portfolio company of Wind Point Partners, has acquired G&W Tanks, a provider of ISO tank transportation, repair, storage depot, wash and loading services with locations in Charleston, South Carolina and Savannah, Georgia. The add-on strengthens Quantix's Southeast footprint and establishes its ISO tank platform, building on Wind Point's value-creation plan for Quantix.

GEODIS has completed the acquisition of Need It Now Delivers, a U.S.-based provider of last-mile delivery, contract logistics and distribution services, expanding GEODIS's footprint and capabilities in the United States. The deal adds over 65 locations, more than 300 distribution points and a workforce of over 2,000 to GEODIS's U.S. operations, strengthening its omnichannel, final-mile and e‑commerce logistics offerings.

Imperial Dade, a leading North American distributor of foodservice packaging and janitorial supplies, has acquired Mobile Janitorial & Paper, a family-owned janitorial and foodservice-disposables distributor based in Mobile, Alabama. Financial terms were not disclosed; the deal expands Imperial Dade's footprint and product/service offerings in Alabama while retaining Mobile Janitorial & Paper's local team and leadership.

Barentz International has acquired Viachem, a Plano, Texas–based specialty distributor of life science ingredients, specialty chemicals and food additives. Barentz said Viachem’s market development function, digital marketing and technical sales capabilities will be combined with Barentz’s global scale and infrastructure to accelerate market share growth in North America.

Russell A. Farrow (U.S.) Inc. purchased a majority interest in DJ Powers Co. Inc., a Savannah, Georgia-based customs brokerage and freight forwarder, effective August 31, 2022. The deal gives Farrow expanded coverage along the lower U.S. eastern seaboard and international footprint, while DJ Powers' leadership (Rhett Willis and Eric Bakker) remain as minority shareholders and continue in their roles.

Pritzker Private Capital agreed to invest in Kenco Logistics, a Chattanooga-headquartered third-party logistics (3PL) provider, alongside members of Kenco's management team. The investment will provide growth capital to scale Kenco's offerings, support geographic and vertical expansion, accelerate automation and data initiatives, and enable strategic add-on acquisitions; terms were not disclosed.

Radiant Logistics, Inc. acquired the operations of Cascade Enterprises of Minnesota, Inc., a Minneapolis-based operator that has run under Radiant's Airgroup brand since 2007. Cascade will operate under the Airgroup brand through 2022 and transition to the Radiant brand in early 2023 as its operations are combined with Radiant’s existing Minneapolis business, expanding Radiant’s local capabilities and access to its Navegate trade-management technology.

Glenview, Illinois-based Envoy Solutions agreed to acquire seven Michigan-based companies from The Enterprises Group — KSS Enterprises, Sideline Sports, BBC Distributing, Energyst Solutions, Rapid Supply & Sales, EMack Manufacturing, and Star Flooring. The acquisition expands Envoy Solutions' product offerings in janitorial, foodservice, packaging and commercial flooring and marks the company's entry into Michigan, with the deal expected to close in Q4 2022 pending customary approvals.

Chicago-based private equity firm Frontenac has completed a recapitalization of Zipline Logistics to accelerate organic growth initiatives and pursue strategic acquisitions. Zipline's management team will remain in place and retain a significant ownership stake; industry veteran Don Maltby is joining the board to support growth in the consumer-packaged goods logistics market.

LLR Partners completed a growth capital investment in PCS Software, a Houston-based provider of an AI-driven transportation management system (TMS). Existing investor Capstreet remains a minority shareholder; LLR's capital will support PCS's organic growth, product innovation, and pursuit of strategic acquisitions.

London-based investment firm RDCP Group has acquired Worcester Electrical Distributors, a Worcester-headquartered electrical wholesaler with six branches, 80 employees and ~£24m revenue. The deal is part of RDCP's buy-and-build strategy to expand its distribution footprint and capability, including EV charger stock and automation products; founders Neville Butler and Bob Rushton are exiting as planned retirements.

MiddleGround Capital, a Lexington, Kentucky-based private equity firm, has acquired HLC, Inc., a North American distributor of bicycle parts and accessories headquartered in Lévis, Quebec (with operations in the U.S.). MiddleGround intends to grow HLC as a platform business by expanding geographic reach and investing in technology and infrastructure while HLC's president Pat McGinnis remains in day-to-day control.

DB Schenker has completed its acquisition of USA Truck, acquiring all outstanding shares for $31.72 per share in cash. The deal values USA Truck at roughly $435 million (including assumed cash and debt); USA Truck will operate within DB Schenker's North America network and will no longer trade on NASDAQ.

Emergent Cold Latin America (Emergent Cold LatAm) has acquired Bajo Cero Frigoríficos, a Mexican refrigerated storage operator with three facilities in Irapuato, Villagrán and León and more than 37,000 pallet positions. The transaction represents Emergent Cold LatAm's entry into Mexico and expands its cold‑storage network across Latin America; Bajo Cero's managing director Fernando León Rodriguez will continue to run the business.

Alliance Ground International (AGI) has acquired Airport Terminal Services (ATS), adding 49 locations across the United States and Canada and marking AGI's first entry into passenger/terminal operations. ATS, founded in 1975 and based in St. Louis, Missouri, has more than 5,500 employees and provides full-range ground handling, cargo handling, refuelling, de-icing and lounge/concierge services.

Capital A, a Netherlands-based private equity investor, has invested in Door To Door, a Dutch specialist in white-glove and last-mile logistics serving life sciences, healthcare and high-tech customers. The partnership will support Door To Door's buy-and-build growth strategy and further professionalize the business to accelerate expansion.

Houston-based 48forty Solutions, a portfolio company of Audax Private Equity and Summit Partners, has acquired Texas pallet management provider Pallet-Ops. The acquisition expands 48forty’s footprint in Texas (San Antonio, Dallas and Houston) and adds Pallet-Ops’ fleet, facilities and 170 employees to 48forty’s national pallet management network; terms were not disclosed.

Glenview, Illinois-based Envoy Solutions has acquired Canton, Massachusetts-based H.T. Berry Company Inc., a national distributor of janitorial supplies and foodservice disposables. The deal expands Envoy Solutions' footprint in the Northeastern United States and enhances its product offerings across jan-san and foodservice categories.

Imperial Dade has acquired International Sales & Marketing (ISM), a Cataño, Puerto Rico-based distributor of foodservice packaging and janitorial sanitation products. Financial terms were not disclosed; the deal — ISM was owned and operated by Eduardo López — expands Imperial Dade's scale and product offering in the Puerto Rico market.

Lineage Logistics has completed the acquisition of Grupo Fuentes, a Murcia-headquartered Spanish transport and cold-storage operator. The deal brings Grupo Fuentes' fleet of more than 500 vehicles, six logistics centers, a 60,000-pallet refrigerated warehouse, and approximately 850 employees into Lineage, strengthening its cold-chain and transport footprint in Spain and Southern Europe.

Chicago-based private equity firm CIVC Partners has made a growth investment in OTR Transportation, a Chicago-headquartered technology-enabled freight broker, in partnership with founder and CEO Jon Braun. The deal leaves the OTR management team in place (Braun retaining a significant stake) and will support accelerated organic growth and pursuit of strategic acquisitions; Dan Para is participating as a co-investor and will join OTR's board.

Pallet Logistics of America (PLA), a portfolio company of Silver Oak Services Partners, has acquired TaylorMade Pallets & Logistics, a family-owned pallet manufacturer and logistics provider based in San Antonio, Texas. The add-on expands PLA's asset-based footprint to 77 facilities and strengthens its pallet manufacturing, remanufacturing, and regional logistics capabilities in South Texas.

RoadOne IntermodaLogistics has acquired Wilmac Enterprises, a Fort Worth–based intermodal and drayage provider with terminals in Fort Worth, Memphis and Newark. The deal expands RoadOne’s national network and terminal/warehousing capabilities; Wilmac’s leadership will remain involved with Wilson Correa staying on as strategic adviser and the general manager handling day-to-day operations.

48forty Solutions, a portfolio company of Audax Private Equity and Summit Partners, has acquired CALco Pallets from Strength Capital Partners. The add-on expands 48forty's footprint in the northern Midwest, adding CALco's manufacturing, recycling and mulch-production capabilities and nearly 300 employees across facilities in Illinois and Wisconsin.

Krystal Growth Partners has acquired a majority interest in Joto Imaging Supplies and named Phil DeSerres as President. Joto, founded in 1989 and headquartered in Coquitlam, British Columbia, is a North American B2B leader in distribution of dye sublimation supplies with five distribution locations across Canada and the United States.

RoadOne IntermodaLogistics has acquired Oakland-based R&A Trucking Company, which will operate as R&A LogisticSolutions, a RoadOne company. The acquisition (backed by sponsor Nonantum Capital) expands RoadOne's West Coast footprint and coastal transload/warehousing capabilities, adding drayage, trucking, brokerage and a 370,000 sq ft FTZ-enabled warehouse in Oakland.

SiteOne Landscape Supply, Inc. completed its acquisition of Linzel Distributing, a Hamilton, Ontario-based wholesale distributor of outdoor lighting and landscape supplies. The deal expands SiteOne's presence in Canada and adds Linzel's product expertise and customer programs to SiteOne's national distribution network.

An affiliate of Peak Rock Capital has completed the acquisition of The Tranzonic Companies, partnering with Tranzonic’s management team. Tranzonic is a national distributor and manufacturer of cleaning and hygiene products headquartered in Cleveland, Ohio, with a network of 16 facilities and more than 600 employees; Peak Rock plans to accelerate growth and pursue complementary add-on acquisitions.

S&S Truck Parts LLC and Midwest Truck & Auto Parts Inc. have completed a merger to form a scaled aftermarket truck parts distributor, nearly doubling the combined business and expanding geographic reach and inventory capabilities. S&S, which was acquired by Investcorp in March 2022, will be led by CEO DJ Hoffman in the combined organization and expects near-term operations to continue as currently structured.

Lineage Logistics has acquired Cold Storage Nelson Limited to expand its New Zealand and Asia‑Pacific cold‑storage network; financial terms were not disclosed. The deal adds CSN’s refrigerated warehousing capabilities and inventory‑management expertise in Nelson, linking local producers (marine, agricultural and horticultural) to Lineage’s global logistics platform.

Funds advised by Wafra Inc. have acquired Contract Leasing Corporation (CLC), a New Jersey-based regional trailer and intermodal chassis lessor. Wafra will partner with CLC’s founder and CEO Michael Goor, who will remain CEO and a significant shareholder, to accelerate growth, expand geographic reach, and enhance service capabilities.

Clover Imaging Group has acquired all operating assets of Phoenix Direct, LLC, a Duluth, Georgia–based eCommerce fulfillment and marketing services provider. The deal expands Clover's capabilities into end-to-end DTC fulfillment, customer service, and marketing to complement its returns management, asset renewal and redistribution platform as part of a diversification and growth strategy.