M&A Deal Summary

Ryder System Acquires Impact Fulfillment Services

On October 23, 2023, Ryder System acquired packaging company Impact Fulfillment Services from Endeavour Capital

Acquisition Highlights
  • This is Ryder System’s 1st transaction in the Packaging sector.
  • This is Ryder System’s 20th transaction in the United States.
  • This is Ryder System’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2023-10-23
Target Impact Fulfillment Services
Sector Packaging
Buyer(s) Ryder System
Sellers(s) Endeavour Capital
Deal Type Add-on Acquisition
Advisor(s) Wofford Advisors LLC (Financial)
Paul Hastings (Legal)

Target

Impact Fulfillment Services

Burlington, North Carolina, United States
Impact Fulfillment Services specializes in contract packaging, contract manufacturing, and warehousing for some of the largest and best-known consumer brands in the United States, primarily in the consumer packaged goods (CPG), retail, and healthcare industries. Impact Fulfillment Services is based in Burlington, North Carolina.

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Buyer(S) 1

Buyer

Ryder System

Coral Gables, Florida, United States

Category Company
Founded 1933
Sector Transportation
Employees47,500
Revenue 11.8B USD (2023)
DESCRIPTION
Entrance to Ryder System's corporate headquarters in Miami, Florida.
Entrance to Ryder System's corporate headquarters in Miami, Florida.

Ryder System is a provider of commercial fleet management and supply chain solutions. Ryder operates in two business segments: Fleet Management Solutions (FMS), which provides full-service leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the U.S., Canada and the U.K.; and Supply Chain Solutions (SCS), which provides comprehensive supply chain solutions including distribution and transportation services in North America and Asia. The SCS segment also provides dedicated services, which includes vehicles and drivers as part of a dedicated transportation solution in the U.S. Ryder's customers range from small businesses to large international enterprises. Ryder System was founded in 1933 and is based in Coral Gables, Florida.


DEAL STATS #
Overall 26 of 27
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 24 of 25
State (North Carolina) 1 of 2
Country (United States) 20 of 21
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 Dotcom Distribution

Edison, New Jersey, United States

Dotcom Distribution is a provider of omnichannel fulfillment and distribution services for high-growth retail and e-commerce brands specializing in health, beauty and cosmetics, and fashion and apparel. Dotcom Distribution was founded in 1999 and is based in Edison, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-01 Cardinal Logistics

Concord, North Carolina, United States

Cardinal Logistics is a third-party logistics, transportation, and supply chain solutions provider. Cardinal Logistics unique approach to outsourcing combines dedicated shipping resources with extensive industry expertise and the most advanced logistics technology to help companies maximize their supply and demand chains. Cardinal Logistics was founded in 1997 and is based in Concord, North Carolina.

Buy -

Seller(S) 1

SELLER

Endeavour Capital

Portland, Oregon, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 925M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Endeavour Capital LLC is a private equity firm that targets service and manufacturing companies headquartered in the Western United States. Endeavour looks to invest with and an enterprise value of $25 -$250 million with an EBITDA of $5-$50 million. Prospective companies are generally profitable with at least $5 million of EBITDA. Supported investment situations include growth capital financings, industry consolidations, management acquisitions, recapitalizations, and ownership transfers. The firm invests in the range of $25-$150 million per transaction. Areas Endeavour will not invest include real estate and emerging technology. Endeavour Capital was formed in 1991 and is based in Portland, Oregon with additional offices in Seattle, Washington, and Los Angeles, California.


DEAL STATS #
Overall 31 of 32
Sector (Packaging) 1 of 1
Type (Add-on Acquisition) 15 of 15
State (North Carolina) 1 of 1
Country (United States) 30 of 31
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-04 Crefact

Japan

Crefact is a manufacturer of automotive exhaust systems, fuel tanks and other automotive body parts. Crefact has advanced manufacturing capabilities to meet stringent demands from the market on the purification of exhaust gases and noise reductions, as well as requirements from leading Japanese automotive OEMs. Crefact was founded in 1967 and is based in Japan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-06 Arizona Nutritional Supplements

Chandler, Arizona, United States

Arizona Nutritional Supplements ("ANS") is a contract and private label manufacturer of vitamins, minerals and supplements. Arizona Nutritional Supplements’s customer base includes multi‐level marketers, specialty retailers, physicians groups and brand marketers selling through retail and online. Arizona Nutritional Supplements was founded in 1996 and is based in Chandler, Arizona.

Sell -