August 22, 2014
MSouth Announces the Successful Exit of Capstone Logistics, LLC
Atlanta, GA (August 22, 2014) – MSouth Equity Partners, an Atlanta-based private equity firm, announced the sale of Capstone Logistics, LLC, a leading provider of outsourced supply chain solutions at nationwide distribution centers catering to the grocery, foodservice, retail and automotive industries.
Capstone was formed in 2011 through the merger of two industry-leading players, LMS Intellibound, a portfolio company of MSouth, and Progressive Logistics Services, a portfolio company of H.I.G. Capital. Currently operating within over 230 sites, Capstone is the leading provider of outsourced supply chain solutions to grocery, foodservice, retail, and automotive industries, and offers a full suite of mission-critical services that optimize productivity, reduce costs, and enable its customers to outsource non-core, labor intensive functions.
"We are very pleased with the Capstone transaction and the return it generated for our investors," said Mike Long, an MSouth Partner. "Backing a strong management team, led by Capstone's outstanding CEO and CFO, Steve Taylor and Bill Harper, was critical to the company's industry-leading financial results and significant value creation that we experienced during our ownership. We had a terrific partnership with H.I.G. and are very proud of what we were able to accomplish together with the management team."
MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued between $25 and $125 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, distribution and specialty manufacturing companies. With more than $700 million under management in two active funds, MSouth is a successor to Cravey, Green & Wahlen, Inc., which was founded in 1984.