Soundcore Capital completes sale of Custom Goods to Angeles Equity

Custom Goods has a 175-plus truck fleet and 6.5 million square feet of warehouse space throughout the country. 

Soundcore Capital completed the sale of logistics company Custom Goods to Angeles Equity. The deal closed on July 19.

Custom Goods has a 175-plus truck fleet and 6.5 million square feet of warehouse space throughout the country.

“Together, we have increased our national footprint and look forward to continuing the growth strategy accelerated under Soundcore’s ownership,” Tony Gregory, CEO of Custom Goods, said in a statement.

Angeles Equity’s investment emerged from its thematic investment thesis on asset-light, valued-added 3PL providers. “Recognizing the significant growth potential of third-party logistics businesses, we have been pursuing a diversified asset-light platform that has compelling upside potential.

“The diversification of Custom Goods’ end markets and customers and distinctive service offerings across transportation and logistics make this an ideal investment for us. The tailwinds in this sector should provide for continued organic growth and also create attractive opportunities for follow-on M&A,” said Sam Heischuber, managing director at Angeles Equity Partners.

The company worked with Lincoln International on the sales process.

Soundcore initially invested in Custom Goods in April 2020. During its ownership period, the company added additional square footage, expanded existing customer relationships and added new customers.

Custom Goods added-on Quik Pick Express in November 2021, as well as developed two additional locations. The company also added senior-level management positions, including CFO, COO and executive vice president of business development, as well as hiring its first general counsel and VP of operations.