PEACHTREE CORNERS, Ga., Oct. 29, 2019 /PRNewswire/ -- Capstone Logistics, LLC ("Capstone" or the "Company") announced today that it has acquired the stock of Priority Express Courier, Inc. (collectively, "Priority Express") for cash from an investor group led by JZ Partners and The Edgewater Funds. Priority Express is a Boothwyn, Pennsylvania-based logistics company providing services in the courier and last mile delivery industry. Founded in 1994, Priority Express serves a variety of customers out of its 5 distribution facilities in the northeast and mid-Atlantic regions. In 2018, Capstone organically developed its own in-house last mile delivery function to expand its service offerings. This function has quickly scaled and the acquisition of Priority Express significantly enhances the Company's capabilities and footprint in this rapidly evolving segment.
"Through this acquisition, Capstone enhances its ability to deliver on one of our key strategic objectives; growing in the last mile delivery segment," said Steve Taylor, Chief Executive Officer of Capstone. "Jon Rydel and the Priority Express team are a great cultural fit and they bring a proven execution-focused background that will complement Capstone's existing last mile delivery solution. We're excited to have them on board."
Capstone is currently owned by The Resolute Fund III, L.P., a private equity fund managed by The Jordan Company ("TJC") and management. Stifel acted as exclusive financial advisor to Priority Express.
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.
SOURCE Capstone Logistics, LLC