HIG makes 10x cash return on Capstone Logistics exit to Jordan Company


logisticsGlobal private equity firm HIG Capital has sold Capstone Logistics to New York PE firm the Jordan Company and multiplied its initial investment by 10.

Atlanta-based Capstone provides outsourced supply chain solutions at 230 sites across the US in the grocery, foodservice, retail and auto sectors.

The company was formed in 2011 through the merger of two industry leading players, HIG-backed Progressive Logistics Services and MSouth Equity Partners-backed LMS Intellibound.

HIG principal Camilo Horvilleur said, “We created an industry leading brand in Capstone, and management flawlessly executed on its strategic initiatives to deliver a highly differentiated client value proposition.

“A transaction providing more than 10-times cash-on-cash returns to H.I.G. and its investors speaks volumes for the quality of the Capstone business.”

Mid-market focused HIG bought two Spanish food and drinks companies Café & Té and Panaria in August this year.

Copyright © 2014 AltAssets