The main world non-public fairness funding firm, H.I.G Capital, has confirmed one of its associates has accomplished the purchase of Cardinal Logistics.
As a prime supplier of devoted transportation and logistics providers in North America, Cardinal gives absolutely outsourced transportation and logistics options to prospects throughout various finish markets. Cardinal’s devoted contract carriage permits prospects to lock in devoted fleet and drivers, servicing complicated route buildings with scheduled pick-ups and deliveries throughout distribution centres, suppliers and shops.
Richard Stokes, Managing Director at H.I.G, mentioned: “We believe Cardinal represents a compelling opportunity to invest in transportation and logistics, especially as supply chains become more complex and locking in reliable, dedicated capacity takes on mission-critical importance. As customers continue to outsource their transportation and logistics needs, we expect Cardinal to become an increasingly important strategic partner. We look forward to working with Vin, Tom and the rest of the executive team to propel the business to new heights.”
Vin McLoughlin, Cardinal’s Chairman, commented: “Partnering with H.I.G. enables Cardinal to continue delivering excellent service while also pursuing growth opportunities with both existing and new customers.”
Cardinal’s CEO Tom Hostetler added: “We are excited about Cardinal’s growth prospects and believe our clients and employees will benefit immensely from H.I.G.’s support as we embark on our next growth phase.”
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