M&A Deal Summary

HCAP Partners Acquires Progistics Distribution

On February 14, 2017, growth capital firm HCAP Partners acquired transportation company Progistics Distribution

Acquisition Highlights
  • This is HCAP Partners’ 1st transaction in the Transportation sector.
  • This is HCAP Partners’ 36th transaction in the United States.
  • This is HCAP Partners’ 24th transaction in California.

M&A Deal Summary

Date 2017-02-14
Target Progistics Distribution
Sector Transportation
Buyer(s) HCAP Partners
Deal Type Recapitalization

Target

Progistics Distribution

Oakland, California, United States
Progistics Distribution, Inc. is a provider of “last mile” delivery solutions for the B2B, B2C and omnichannel markets using a proprietary technology solution to offer customized service offerings at scale. Logistics Distribution is based in Oakland, California.

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Buyer(S) 1

Buyer

HCAP Partners

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2000
PE ASSETS 670M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Huntington Capital is a mezzanine finance firm that provides both debt and equity financing to established, lower middle-market companies throughout California and the Southwest US. The Firm targets growth companies with positive cash flow, diversified customers, defensible market positions, and experienced management. The Firm looks to invest $5 to $35 million in companies generating revenues of $10 to $100 million. Areas of interest include manufacturing, services, healthcare, software, homeland security, retail, and information technology. Prospective transaction situations include buyouts, acquisitions, recapitalizations, and growth capital financings. Huntington Capital was formed in 2000 and is based in San Diego, California.


DEAL STATS #
Overall 36 of 67
Sector: Transportation M&A 1 of 1
Type: Recapitalization M&A Deals 4 of 5
State: California M&A 24 of 33
Country: United States M&A 36 of 66
Year: 2017 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Burke Williams Day Spas

Inglewood, California, United States

Burke Williams Day Spas is a full-service luxury day spa with eleven locations serving customers throughout California. Burke Williams Day Spas provides health and wellness services such as massage therapy, spa baths, skin, and nail treatments. Burke Williams Day Spas was founded in 1984 and is based in Inglewood, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-24 Resolve Systems

Campbell, California, United States

Resolve Systems is an IT process automation software company that places human ingenuity at the forefront of workplace advancement. Resolve evolved significantly from its ITPA origins into the leading incident response and resolution software platform supporting the network, IT and security operations environments of leading Fortune 500 enterprises throughout the world. Resolve Systems was founded in 2000 and is based in Campbell, California.

Sell -