04/02/2020 | Announcement
Ironwood Capital Exits Logistics and Distribution Provider Performance Team
AVON, CONNECTICUT, April 2, 2020 – Ironwood Capital is pleased to announce an exit from its subordinated debt investment in Performance Team. The company was purchased by A.P. Moller – Maersk and will integrate its services with Maersk Warehousing & Distribution’s regional network of 20+ facilities in the United States and Canada.
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 United States.
“Company management, led by CEO Craig Kaplan, has done an outstanding job building a national distribution and transportation powerhouse. Performance Team manages over 7.0 million square feet of warehouse space and serves over 5,000 customers,” noted Ironwood Capital Senior Managing Director Roger Roche. “Our original growth thesis for this company has been more than validated in two short years. Our congratulations to Craig and his team!”
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 135 companies over the past 18 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
