Huron Capital Partners, a lower-middle-market private equity firm based in Detroit, today announced its third-party transportation and logistics services platform, Direct Connect Logistix (DCL), has acquired Performance Logistics. Terms of the deal were not disclosed.
Founded in 2015 and headquartered in Draper, Utah, Performance Logistics is a third-party logistics company that specializes in providing temperature-controlled food and beverage transportation services.
“From the start of our discussions with Performance Logistics, we have been impressed by the company’s dedication to its customers, its growth capabilities, and its roster of blue-chip food and beverage customers,” says Richard Piontek, CEO of DCL.
“This acquisition provides us with a presence in the Mountain West for the first time and strengthens our refrigerated and frozen food capabilities. We also expect it will help us expand our customer base and increase market share with existing customers.”
Huron Capital invested in Indianapolis-based DCL in 2018 to create a new platform in the fragmented third-party logistics industry. DCL primarily serves the food, beverage, and related industries in the South, Midwest, and East Coast and is poised for continued expansion.
Performance Logistics’ existing management team will remain with the combined company to help lead an expansion plan for regional operations.
“DCL has a unique corporate culture built on hustle, outstanding customer service and efficiency. DCL has continued to experience growth and has established itself as a leader in the sector,” says Matt Lacki, partner.
“The addition of Performance Logistics is a significant next step for DCL and its strategic plan. The acquisition will boost DCL’s core services into more national markets with a focus on nondiscretionary, consumer staple, recession resistant customer segments.”
Huron Capital has successfully established six private equity funds aggregating nearly $2 billion in committed capital and invested in over 240 companies, with its portfolio companies having employed over 11,000 people throughout North America.