08/31/2018 | Announcement
Ironwood Capital Announces Debt Investment in Logistics Provider Performance Team
AVON, CONNECTICUT, July 31, 2018 – Ironwood Capital is pleased to announce a debt investment to support a recapitalization at Performance Team. Headquartered in Los Angeles, California, Performance Team is an end-to-end third-party logistics and distribution provider, offering consolidation, warehousing, distribution and transportation services across the country.
“Performance Team has a national footprint and significant scale. It provides complete end-to-end domestic solutions and has long-term contracts and relationships with many of the largest retailers in the United States,” stated Ironwood Capital President and Chief Investment Officer Carolyn Galiette. “The company manages over 7.0 million square feet of warehouse space. We’re pleased to be part of this growth story.”
“Since 1987, company management, currently led by CEO Craig Kaplan, has done an outstanding job building a national distribution and transportation powerhouse and corresponding increase in its customer base,” noted Ironwood Capital Senior Managing Director Roger Roche. “Performance Team now serves over 5,000 customers.”
About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies, investing more than $750 million in over 130 companies over the past 17 years. Ironwood invests in the form of subordinated debt and preferred stock in amounts ranging from $5 million to $20 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts. For more information, please visit www.ironwoodcap.com.
About Performance Team
Headquartered in Los Angeles, California, Performance Team is an end-to-end third-party logistics and distribution provider, offering a full suite of ecommerce, retail, wholesale, and omni-channel distribution and transportation services, including dedicated facility management, replenishment, pick and pack, garment on hanger (GOH), value-added services, retail compliance, consolidation/deconsolidation, transload and drayage etc. The company manages over 7.0 million square feet of warehouse space in key supply chain hubs located across the United States, near major ports, interstate highways and intermodal rail lines. For more information, please visit: www.performanceteam.net.
Contact:
Carolyn C. Galiette
President and Chief Investment Officer
(860) 409-2105
galiette@ironwoodcap.com
Kathy Butler
Director of Marketing and Communications
(860) 409-2117
butler@ironwoodcap.com
