M&A Deal Summary

Capstone Logistics Acquires Priority Express Courier

On October 29, 2019, Capstone Logistics acquired transportation company Priority Express Courier from JZ Partners, Bolder Capital and The Edgewater Funds

Acquisition Highlights
  • This is Capstone Logistics’ 2nd transaction in the Transportation sector.
  • This is Capstone Logistics’ 4th transaction in the United States.
  • This is Capstone Logistics’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2019-10-29
Target Priority Express Courier
Sector Transportation
Buyer(s) Capstone Logistics
Sellers(s) JZ Partners
Bolder Capital
The Edgewater Funds
Deal Type Add-on Acquisition

Target

Priority Express Courier

Boothwyn, Pennsylvania, United States
Priority Express Courier, Inc. is a provider of same-day express delivery services to laboratories, health systems, and multiple other high-touch industries. Priority Express serves a variety of customers out of its 5 distribution facilities in the northeast and mid-Atlantic regions.

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Buyer(S) 1

Buyer

Capstone Logistics

Peachtree Corners, Georgia, United States
Category Company
Founded 2011
Sector Transportation
DESCRIPTION

Capstone Logistics is a provider of outsourced supply chain solutions at nationwide distribution centers catering to the grocery, foodservice, retail, automotive, and 3PL verticals. Capstone was founded in 2011 and is based in Peachtree Corners, Georgia.

DEAL STATS #
Overall 4 of 6
Sector (Transportation) 2 of 3
Type (Add-on Acquisition) 3 of 5
State (Pennsylvania) 1 of 1
Country (United States) 4 of 6
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-03 MileZero

Seattle, Washington, United States

MileZero, Inc. is a software company providing logistics tools to the last mile delivery industry. MileZero, Inc. was founded in 2014 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Insource

Charlotte, North Carolina, United States

Insource is a provider of on-premise contract labor services for light manufacturing, assembly, and distribution operations primarily in the southeastern region of the United States. Insource was founded in 1977 and is based in Charlotte, North Carolina.

Buy -

Seller(S) 3

SELLER

JZ Partners

Category Private Equity Firm
Founded 1986
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

JZ Partners is a private equity firm focused on acquiring middle-market companies valued up to $200 million. JZ seeks profitable companies with strong management, defensible market positions, and low capital expenditures. Sectors of interest include niche manufacturing, value-added distribution, industrial services, healthcare, education, transportation, and business services. JZ Partners was formed in 1986 and has offices in Chicago and New York City.

DEAL STATS #
Overall 7 of 12
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (Pennsylvania) 2 of 3
Country (United States) 7 of 12
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-24 Steel & O Brien

Arcade, New York, United States

Steel & O'Brien is a manufacturer and supplier of Sanitary and Biopharmaceutical (BPE) stainless steel fittings, valves, and tubing primarily for the food, beverage, dairy, and pharmaceutical industries. Steel & O'Brien was founded in 1990 and is based in Arcade, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-01 Vitalyst

Bala Cynwyd, Pennsylvania, United States

Vitalyst is a provider of remote, desktop application software support services for Fortune 1000 Companies. The Company works in partnership with clients' IT departments as both a Help Desk support enhancement as well as a remote training department for desktop application software. Vitalyst was founded in 1992 and is based in Bala Cynwyd, Pennsylvania.

Sell $50M
SELLER

Bolder Capital

Lakewood, Colorado, United States
Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Bolder Capital is a private equity group that invests in lower middle-market manufacturing and service oriented businesses. The Group pursues companies operating in growth markets with proprietary products or technologies. Target businesses have at least $2 million of EBITDA with an enterprise value of minimum $500 million. Funds are generally used to support acquisitions/buyouts, recapitalizations and selective growth equity opportunities. Bolder Capital was formed in 2004 and is based in Chicago.

DEAL STATS #
Overall 12 of 12
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Pennsylvania) 2 of 2
Country (United States) 12 of 12
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-05 Salter Labs

Arvin, California, United States

Salter Labs is a manufacturer of disposable oxygen delivery and respiratory therapy products in the multi-billion dollar home medical and acute care markets and has been supplying innovative and proprietary medical consumables. Salter Labs was founded in 1976 and is based in Arvin, California.

Sell -
SELLER

The Edgewater Funds

Chicago, Illinois, United States
Category Private Equity Firm
Founded 1991
PE ASSETS 2.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Edgewater Funds is a private equity firm that targets investments in profitable, middle-market growth companies. Target companies typically have revenues of $20 to $500 million in revenue and EBITDA of $5 to $30 million. The Firm will consider minority and control investments in the form of growth capital financings and traditional buyouts. Edgewater looks for North American businesses operating in a variety of industries. Sectors of interest include business services; financial and government services; consumer products and services; healthcare; IT services and software; and industrial/manufacturing. Edgewater was formed in 1991 and is based in Chicago, Illinois.

DEAL STATS #
Overall 33 of 42
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 18 of 19
State (Pennsylvania) 1 of 1
Country (United States) 32 of 41
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-10 Elevate Patient Financial Solutions

Spring, Texas, United States

Elevate Patient Financial Solutions is a provider of technology-enabled revenue cycle management services for hospitals, health systems, and healthcare providers. Elevate Patient Financial Solutions proprietary technology platform offers a unified suite of solutions designed to engage patients, empower physicians and hospitals, and improve financial outcomes throughout the entire healthcare continuum. For four decades, the company has been providing innovative solutions to the medical community and serving hundreds of millions of patients across numerous medical specialties. Elevate Patient Financial Solutions was founded in 1980 and is based in Spring, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-10 DataBank

Dallas, Texas, United States

DataBank is a provider of an enterprise-class data center, cloud, and interconnection services, offering customers 100% uptime availability of data, applications, and infrastructure. DataBank’s managed data center services are anchored in world-class facilities. DataBank’s customized technology solutions are designed to help customers effectively manage risk, improve their technology performance and allow them to focus on their core business objectives.

Sell -
Mergr

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