Canadian private equity firm Clearspring Capital Partners has sold its equity interest in Logistik Unicorp Inc, a Saint-Jean-sur-Richelieu, Québec-based provider of comprehensive uniform programs to corporate and governmental organizations.
The financial terms and nature of the sale were not disclosed.
Founded in 1992 by President and CEO Louis Bibeau, Logistik serves the clothing and equipment supply chain needs of a range of customers, including the Canadian Armed Forces, Canada Post and Australian Defence Forces.
Clearspring first invested in 2011. Bibeau said the partnership with the investor helped the company solidify and expand its global market presence, grow sales, and more than triple its bottom line.
Logistik is also backed by Canadian private equity firm Argosy Partners.
Clearspring Capital Partners Completes Sale of Logistik Unicorp
Montreal, August 2, 2018 – Clearspring Capital Partners (“Clearspring”) has announced today that it has completed the sale of its equity interest in Logistik Unicorp (“Logistik”).
Based in Saint-Jean-sur-Richelieu, Quebec, Logistik Unicorp provides comprehensive uniform programs for a diverse clientele of corporate and governmental organizations, including the likes of the Canadian Armed Forces, Canada Post, Australian Defence Forces and New South Wales Health. The company delivers total management and innovative, integrated solutions to meet the clothing and equipment supply chain needs of its customers in both Canada and Australia.
“In the past seven years, Clearspring has been an esteemed business partner for Logistik Unicorp. Over this time, the company expanded and solidified its position as the market leader in managed uniform services in both Canada and Australia, enhanced its world-class management team and increased its business significantly. With the support of Clearspring as a partner, Logistik Unicorp was able to notably grow sales and more than triple the bottom line. Their contribution to our business operations and strategies were valuable to Logistik Unicorp worldwide” said Louis Bibeau, Founder, President & CEO of Logistik Unicorp.
“Logistik is in many respects a classic Clearspring deal. We invested growth capital in a market leader and worked in partnership with an outstanding management team to grow the company’s product portfolio and its geographic presence, especially in Australia.” said Lawrence Stevenson, Chairman of Logistik Unicorp and Managing Director at Clearspring Capital Partners.
About Clearspring Capital Partners
Clearspring Capital Partners is a leading Canadian mid-market private equity firm that invests in and acquires medium-sized companies through buyouts, growth and acquisition financings, going private transactions, industry consolidations, recapitalizations and other types of transactions. The Clearspring team works closely with the management team of its portfolio companies to ensure the creation of added value. For more information, visit cscap.ca.
Sources and Information:
Clearspring Capital Partners
Managing Director (416) 868-4512 [email protected]
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