08/31/2016 | Announcement
Ironwood Capital Announces Exit from Investment in St. George Logistics
AVON, CONNECTICUT, August 31, 2016 – Ironwood Capital is pleased to announce an exit from its investment in St. George Logistics, which was sold to Wind Point Partners, a Chicago-based private equity firm. Ironwood partnered with private equity firms LongueVue Capital of New Orleans and Long Point Capital of New York in acquiring St. George in 2012.
St. George is the leading provider of container freight station services for ocean cargo imported into the United States. The company also provides a broad array of complementary logistics services, including distribution, value-add warehousing, air container freight stations and expedited transportation services. St. George is headquartered in South Kearny, New Jersey, with additional facilities located in the nation’s largest ports and metropolitan areas, including Los Angeles, Houston, Chicago, Atlanta, Savannah and Charleston.
“We are proud to have played a part in St. George’s development from a niche business in the logistics space to one at the forefront of its industry,” stated Roger Roche, senior managing director at Ironwood Capital. Added Carolyn Galiette, Ironwood Capital president and chief investment officer, “This result is a testament to the commitment and foresight of St. George’s exceptional management team and to the poise, patience and collaboration of the investment group, particularly our partners, LongueVue Capital and Long Point Capital.”
Over the course of the investment, St. George established its leadership in the container freight station market and significantly grew its facility and service footprint. In addition, the company attracted a highly talented management team capable of navigating the company’s next phase of growth and substantially improved its information technology, analytics and reporting, and sales and marketing functions.
About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies. Over the past 15 years, we have invested $600 million in over 100 companies. We take a straightforward approach in providing profitable, well-managed companies with growth and transition capital coupled with strategic, operational and financial guidance. 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. With nearly 30 years of middle market experience, we seek to simplify a process that is often unnecessarily wrought with complexity and contention. For more information, please visit www.ironwoodcap.com.
About St. George Logistics
St. George Logistics offers a wide range of value-added logistics services including ocean and air container freight station (CFS) services, contract warehousing, distribution, e-commerce fulfillment and services. St. George operates the largest network of independent CFS facilities in North America with very close proximity to all major ports and metropolitan areas for ocean or air cargo. St. George is also a leading provider of a wide range of additional logistics services including distribution, warehousing and reliable transportation within the United States. For more information, please visit www.stgusa.com.
About LongueVue Capital
LongueVue Capital is a private equity company focused on making situation-driven, value-oriented equity and debt investments in lower middle market companies (up to $100 million in annual revenue) to support buy-outs, recapitalizations, acquisitions and growth. Since its formation in 2001, LVC has made successful investments in a wide variety of industries, including energy services, logistics, electrical and instrumentation services, wireless technology, manufacturing, and healthcare services. LVC is based in New Orleans with additional offices in New York and Salt Lake City. For more information, please visit www.lvcpartners.com
About Long Point Capital
Long Point Capital was founded in 1998 to invest in outstanding founder, family, and management-owned companies with highly capable management teams and strong growth prospects. It focuses on lower middle market businesses with EBITDA of greater than $5 million with defensible market, customer and product positions, solid long-term industry fundamentals and a history of stable earnings. Long Point has invested in a diverse portfolio of manufacturing, service, and distribution companies in a broad range of industries. For more information, please visit www.longpointcapital.com.
Contacts:
Carolyn C. Galiette
President and
Chief Investment Officer
(860) 409-2105
galiette@ironwoodcap.com
Kathy Butler
Marketing and Communications
Director
(860) 409-2117
butler@ironwoodcap.com
