Solis Capital Partners said Wednesday it sold its majority stake in Tigers to GeoPost S.A. Financial terms weren’t announced. Hong Kong-based Tigers is a transportation and logistics provider. Solis said the sale of Tigers represents the full realization of Solis’ first fund, Solis I, contributing to a gross return on invested capital of 3.4x and a realized IRR in excess of 25% since inception in 2003.
NEWPORT BEACH, CA – July 24, 2013 – Solis Capital Partners (Solis), a
lower middle-market private equity firm, today announced the sale of its
majority interest in Tigers Ltd. (Tigers), a global transportation and logistics
provider, to GeoPost S.A. (GeoPost), Europe’s second largest express parcel
The sale follows the successful merger in 2011 of Kamino Logistics Group,
Ltd., a Solis portfolio company, with Hong Kong-based WLG, Inc. to form
Tigers, in which Solis maintained its majority ownership. With the exception
of a few small trailing interests, the sale of Tigers represents the full
realization of Solis’ first fund, Solis I, contributing to a gross return on invested
capital of 3.4x and a realized IRR in excess of 25% since inception in 2003.
“We are pleased with the sale of Tigers and the performance of Solis I.“ said
Daniel Lubeck, founder and managing director of Solis, “Our results in Solis I,
generated through the recent economic downturn, once again demonstrate
that our lower-middle market strategy of creating returns through business
growth and enhancement, not extraction, can be successful independent of
business and economic cycles”
Solis invests in companies in a variety of industries including services, niche
manufacturing and software, typically headquartered in the Western United
States. “We continue to seek opportunities to partner with management
teams and owners who seek capital, liquidity, solutions and support to take
their business to the next level and accomplish their personal objectives,”
added Craig Dupper, partner at Solis.
Solis recently announced the closing of its second fund, Solis II and is
currently invested in gen-E, an information technology process automation
(ITPA) software and services company based in San Clemente, CA.
Solis Capital Partners is private equity firm specializing in the lower middle-market.
It is headquartered in Newport Beach, CA, with an office in San Diego, CA. Utilizing
its Solis 360°® process, the firm partners with business owners and managers to
create value, rather than extract it. Solis focuses on companies in the Western U.S.
with revenues of $15 million – $100 million in the service, niche manufacturing, and
software sectors. The firm is actively investing through Solis II. For additional
information, see www.soliscapital.com.