HC Private Investments has acquired Norcross, Georgia-based Customized Distribution, a logistics company serving the quick service restaurant market. No financial terms were disclosed.
10 November 2021
HC Private Investments (“HCPI”), a Chicago-based private investment firm, today announced a strategic partnership with Customized Distribution LLC (“CDI” or the “Company”), a leading southeast-based dedicated logistics company serving the quick service restaurant market.
Proceeds from HCPI’s investment will be used to accelerate CDI’s growth plans and expand the business’ geographic footprint to better serve the Company’s existing customer base, and digital transformation into a technology-led logistics, distribution and delivery business. As part of the transaction, seasoned food distribution executive Dick DiStasio, who identified the opportunity to invest in the future of CDI, has joined the Company as Chairman and Chief Executive Officer. Founder and former CEO Marc Gruber has transitioned into an Advisory Board role. Terms of the transaction were not disclosed.
Founded in 2000 and headquartered in Norcross, GA, CDI serves over 1,100 quick service restaurant locations across 12 states. The Company’s service offerings include logistics and planning, warehousing, and last-mile distribution. CDI operates approximately 400,000 square feet of distribution facilities in Atlanta, GA, Jacksonville, FL, and Jackson, MS.
HCPI Managing Partners John P. Kelly and Matthew J. Moran, said, “We are thrilled to be partnering with Dick and his team to support CDI’s continued growth and geographic expansion. As a dedicated logistics partner to leading QSR chains for over 20 years, CDI has a long history of supporting their customers through multiple stages of growth. CDI provides a full-service value-add alternative to national broadline food distributors with their focused customer service and complete product offering.”
Mr. DiStasio, stated, “Having spent my entire career in food distribution, I was immediately drawn to CDI’s leading position in the Southeast and blue-chip QSR customer base. HCPI dug in to understand the opportunity and their long-term investment approach was a strong fit for me and the Company to maximize CDI’s potential.”
Winston & Strawn LLP served as legal counsel to HCPI. Wintrust Financial Corporation provided debt financing for the transaction.
ABOUT HC PRIVATE INVESTMENTS
HC Private Investments (“HCPI”) is a private equity investment firm focused on making investments between $5 million to $30 million in lower middle-market manufacturing businesses within the consumer and industrial markets. HCPI invests capital from HC Technologies, LLC, a Chicago-based principal trading firm led by Joe Niciforo with offices in New York and London. The firm will also bring select family offices and individuals to participate in its transactions providing HCPI with a flexible and patient capital base. With a focus of being the first institutional investor in a business, HCPI seeks to partner with business owners, executives and management teams to identify opportunities to remove impediments to growth enabling companies to maximize their full value potential. For more information, please visit www.hcprivateinvest.com.