PEACHTREE CORNERS, Ga., Oct. 3, 2019 /PRNewswire/ -- Capstone Logistics, LLC ("Capstone" or the "Company") today announced the closing of a definitive agreement to acquire substantially all of the assets of MileZero, Inc. (collectively, "MileZero"), a Seattle, Washington-based software company providing logistics tools to the last mile delivery industry. MileZero was founded in 2014 by Charles Griffith, the former Vice President of Transportation Technology at Amazon. He was responsible for the development of several of Amazon's last mile solutions including sort centers and final mile delivery worldwide. Through MileZero, Capstone expands its last mile capabilities and establishes a broader international footprint, adding operations in Australia. The market in the U.S. and abroad for last mile delivery is developing rapidly and represents a significant growth engine for the Company.
"I am excited about the opportunity to add this cutting-edge technology developed by Charles Griffith and his team to the Capstone portfolio," said Steve Taylor, Chief Executive Officer of Capstone. "The combination of MileZero software and Capstone's industry-leading executional capabilities allows us to provide our partners with a seamless, end-to-end, last mile delivery solution."
Capstone is currently owned by The Resolute Fund III, L.P., a private equity fund managed by The Jordan Company, L.P. ("TJC") and management. TJC has managed funds with original capital commitments in excess of $11 billion since 1987, with a track record of investing in and contributing to the growth of businesses across the transportation and logistics industries.
About Capstone Logistics, LLC Capstone Logistics, LLC is a third-party logistics company offering technology-enhanced labor solutions for the full spectrum of supply chain activities. Capstone is a market leader in its industry and delivers service and value to its customers through innovative solutions. Founded in 1986 and headquartered in Atlanta, Capstone serves its partners at over 530 locations with operations in 47 U.S. states, Canada and Australia. Its customers are primarily focused in the grocery, foodservice and retail end markets.
About The Jordan Company, L.P. TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 37-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation & Logistics, Healthcare & Consumer, and Telecom, Technology & Utility. Headquartered in New York, NY, TJC also has an office in Chicago, IL.