May 29, 2015
MSouth Announces the Successful Exit of The Coastal Companies
Atlanta, GA (May 29, 2015) – MSouth Equity Partners, an Atlanta-based private equity firm, announced the sale of The Coastal Companies, a leading distributor and processor of fresh produce and dairy products in the Mid-Atlantic region of the United States. Coastal was founded as Coastal Sunbelt Produce in 1992 and operates a fleet of 175 trucks, delivering daily to over 2,000 customers across six East Coast states and the District of Columbia. Coastal is committed to food safety, quality, service, sustainability and staff development and has established itself as an industry leader.
"John Corso and his team at Coastal have done an outstanding job of building this company over the years, achieving industry-leading financial results," said Mike Long, an MSouth Partner. "We are very pleased with the Coastal transaction and the return it generated for our investors."
Founded in 1992, The Coastal Companies has emerged as a major distributor of fresh produce and dairy and is a leading regional processor of fruits and vegetables. Based in Baltimore/Washington, The Coastal Companies and its subsidiaries, Coastal Sunbelt Produce and East Coast Fresh, operate a fleet of 175 trucks and deliver daily to foodservice customers across six states and the District of Columbia. The company also serves major retail and wholesale customers along the East Coast.
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 $150 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of business services, distribution, specialty manufacturing and telecommunications/media companies. With $1.3 billion under management across three funds, MSouth is a successor to Cravey, Green & Wahlen, Inc., which was founded in 1984.