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H.I.G. Capital Completes Acquisition of Cardinal Logistics

| June 10, 2019

Cardinal services complex route structures with scheduled pick-ups and deliveries across distribution centers

H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over $30 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Cardinal Logistics (“Cardinal” or the “Company”), a leading provider of dedicated transportation and logistics services in North America.

Founded in 1997 and headquartered in Concord, NC, Cardinal provides fully outsourced transportation and logistics solutions to customers across diverse end markets. The Company’s dedicated contract carriage offering allows customers to lock in dedicated fleet and drivers, servicing complex route structures with scheduled pick-ups and deliveries across distribution centers, suppliers, and stores. Cardinal is able to enhance operating efficiencies and deliver exceptional service to its customer base.

“Partnering with H.I.G. enables Cardinal to continue delivering excellent service while also pursuing growth opportunities with both existing and new customers,” said Vin McLoughlin, Cardinal’s Chairman. Cardinal’s CEO Tom Hostetler added, “We are excited about Cardinal’s growth prospects and believe our clients and employees will benefit immensely from H.I.G.’s support as we embark on our next growth phase.”

“We believe Cardinal represents a compelling opportunity to invest in transportation and logistics, especially as supply chains become more complex and locking in reliable, dedicated capacity takes on mission-critical importance,” said Richard Stokes, Managing Director at H.I.G. “As customers continue to outsource their transportation and logistics needs, we expect Cardinal to become an increasingly important strategic partner. We look forward to working with Vin, Tom and the rest of the executive team to propel the business to new heights.”

Category: Featured, General Update, News

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