Creo Capital Partners has acquired the assets of Sataria Distribution and Packaging, an Indianapolis-based provider of third-party-logistics. No financial terms were disclosed.
Creo Capital Partners announced today that it has acquired the assets of Sataria Distribution and Packaging, an Indiana-based provider of third-party-logistics (3PL) services. John Jacobs, the founder of the business, remains a material shareholder. Patrick O’Keefe, Helen Means, and Robert Moran will lead the day-to-day management of the business. No material changes in the operations of the business are planned. The terms of the transaction were not disclosed.
The acquisition represents Creo’s second investment in the transportation and logistics space, and the eighth investment for the firm that is broadly tied to the food industry.
Rob Holland, a partner at Creo, said, “Our intention is to build a company with real expertise and capabilities in the 3PL space — and with particular emphasis on serving food-related businesses. Sataria is an outstanding fit for this objective.”
Based near downtown Indianapolis, Sataria operates a 600,000 square foot warehouse facility and provides storage, transportation, and general outsourced logistics services for third-party customers. Established in 2001, the Company has been built upon a commitment to working with customers to develop high quality logistics solutions, backed by exceptional service.
Bob Moran said, “Sataria is one of the finest examples of how third-party contract warehouses should be managed. The company has a solid understanding of the specific requirements of food ingredient and plant support warehousing and has developed world class capabilities in this area. The customer relationships that result are exactly what Creo is looking to develop as we expand this business.”
Greg Bortz, Creo’s managing partner, said, “Based on Creo’s knowledge and expertise in the food and logistics industries, we were able to quickly identify the value inherent in Sataria’s people, plant, and reputation. We are very excited about backing the existing management team and working with John Jacobs as we continue to build value in this opportunity.”
Boston-based Nixon Peabody, LLP served as legal advisor to Creo on the transaction.
Creo Capital Partners, LLC is a Los Angeles-based private equity firm specializing in organizing, structuring and sponsoring recapitalizations, restructurings and acquisitions of mid-market companies. The Firm focuses on partnering with management to create superior returns for all stakeholders. Established in early 2005, Creo is currently investing through its second fund, Creo Capital Partners II, LP, and has built a portfolio of investments that include companies in a wide range of industries including the frozen food, seafood, construction supply, transportation, engineering and manufacturing, and apparel sectors.
SOURCE Creo Capital Partners, LLC