Five Points Capital said Tuesday that it has sold Unishippers Global Logistics. Ridgemont Equity Partners has acquired Unishippers via a recapitalization. Financial terms weren’t announced. Salt Lake City-based Unishippers provides third party logistics services to small and medium-sized businesses. Piper Jaffray & Co. served as financial advisor to Unishippers.
Winston-Salem, NC (October 20, 2015) – Five Points Capital (formerly known as BB&T Capital Partners) is pleased to announce that it has exited its investment in Unishippers Global Logistics (“Unishippers” or the “Company”), a leading provider of third party logistics services to small and medium-sized businesses, through a recapitalization sponsored by Ridgemont Equity Partners. Financial terms of the transaction were not disclosed.
Unishippers offers small package and heavy freight services, including less than truckload, full truckload and air freight, through nearly 300 franchise locations and affiliates across the United States. The Company partners with over 30 regional and national shipping carriers, including UPS®, YRC Freight, Estes, Saia® and UPS Freight®, to provide attractive pricing and a full suite of shipping services to over 50,000 business owners and operators.
“We are extremely pleased with the results of our investment in Unishippers,” said Tom Westbrook, Managing Partner at Five Points. “We originally backed the executive team in a management buyout when they took over the leadership reigns from the Company’s founders. Since that time, management has successfully executed on their business plan and delivered an outstanding return to all investors. We congratulate them for a job well done and are confident they will achieve continuing success in their new partnership with Ridgemont.”
“We are appreciative of the team at Five Points Capital for the strategic guidance and financial support they provided throughout their investment,” said Kevin Lathrop, President of Unishippers. “They were a valuable partner to management and helped the company achieve its objectives and drive a successful outcome for everyone involved.”
Piper Jaffray & Co. served as financial advisor to Unishippers. Moore & Van Allen, LLP served as Five Points’ legal counsel.
About Five Points Capital
Founded in 1997, Five Points Capital (“Five Points”) is a leading private equity manager, exclusively focused on the U.S. lower middle market. Five Points manages private equity, mezzanine and small buyout fund-of-funds strategies focused on supporting the capital needs of private, growth-oriented companies and financial sponsors. We make direct equity investments as the lead investor, or co-investor with other private equity groups, in control transactions of privately-held companies, we provide subordinated debt with equity co-investments in support of financial sponsors and others, and we invest in other private equity funds. Since inception, Five Points has managed over $1 billion in client committed capital, including the management of the BB&T Capital Partners Funds. Five Points’ 22 member team is headquartered in Winston-Salem, NC and is an investment advisor registered with the U.S. Securities and Exchange Commission.