Capstone Logistics, which is owned by The Jordan Company, has acquired Pinnacle Workforce Logistics. No financial terms were disclosed. Based in Chino Hills, California, Pinnacle provides outsourced workforce solutions for distribution centers within the drug retail, grocery and retail sectors.
New York, NY: June 12, 2015 – Capstone Logistics LLC (“Capstone”), a leading provider of outsourced supply chain solutions to distribution centers in the grocery, foodservice, retail and other industries, has completed the acquisition of Pinnacle Workforce Logistics (“Pinnacle” or the “Company”). Capstone is currently owned by The Resolute Fund III, L.P., a private equity fund managed by The Jordan Company.
Headquartered in Chino Hills, California, Pinnacle is a provider of technology-driven, outsourced workforce solutions for distribution centers within the drug retail, grocery, and retail end-markets. The Company offers a full suite of mission-critical services that optimize productivity, reduce expenses, and lower risks for its clients in approximately 100 locations across North America.
Steve Taylor, Capstone’s Chief Executive Officer, commented: “The acquisition of Pinnacle is a great addition to our platform. As a result of this acquisition, we will have an increased geographic footprint, especially on the West Coast, and additional service capabilities to offer current Capstone and Pinnacle customers. We believe this combination will help us strengthen our valuable, long-term customer relationships.”
“We are excited about the opportunities that the Pinnacle acquisition will provide Capstone.” said Brian Higgins, Senior Partner at The Jordan Company. “We have already identified many synergies for the combined company and we see great potential to expand into other industries with the addition of certain Pinnacle clients.”
Weil, Gotshal & Manges LLP served as legal counsel to The Jordan Company. Harris Williams & Company served as the financial advisor to the seller.
About Capstone Logistics, LLC
Capstone Logistics, LLC is a third party logistics company offering technology-enhanced labor solutions for the full spectrum of supply chain activities. Capstone is a market leader in its industry and delivers service and value to its customers through innovative solutions. Founded in 1986 and headquartered in Atlanta, Capstone operates in 261 locations spanning 44 states, servicing customers in grocery, foodservice and retail end markets.
About The Jordan Company
The Jordan Company (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that manages funds with original capital commitments in excess of $8 billion with a 33-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. The senior investment team has been investing together for 25 years and they are supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai.