Archives for March 14, 2018

Insignia Promotes Three

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Insignia Capital Group has promoted Pradyut Shah to Managing Director, Julian Hinderling to Principal and Nick DeTrempe to Vice President.

“My partners and I are thrilled to recognize the well-earned promotions of these talented individuals,” said David Lowe, Chairman and CEO of Insignia. “The promotions are a reflection of their important contributions to the growth and success of the firm, and further enhance our ability to help founders and management teams realize their full potential. We look forward to their continued contributions.”

Pradyut Shah joined Insignia in 2011 as a founding member of the firm. Prior to Insignia, he was a Vice President at Behrman Capital.  He began his career at Credit Suisse First Boston’s Technology Group working on mergers and acquisitions in the technology sector. Mr. Shah has his undergraduate degree from the University of Pennsylvania.

Julian Hinderling joined Insignia in 2016 as a Vice President.  Prior to Insignia, he was a Vice President at American Securities and earlier he was with Disney’s Corporate Strategy & Business Development Group as well as Credit Suisse’s Leveraged Finance & Restructuring Group. Mr. Hinderling has an MBA from Stanford University and an undergraduate degree from Georgetown University.

Nick DeTrempe joined Insignia in 2014 as an Associate. Prior to Insignia, he was an Associate at Baird Capital and an Analyst in Credit Suisse’s investment banking group. Mr. DeTrempe has an undergraduate degree from the University of Notre Dame.

Insignia Capital Group invests in lower middle-market companies that have from $5 million to $30 million of EBITDA. Sectors of interest include business services, consumer, and healthcare. Insignia Capital Group is based near San Francisco in Walnut Creek, CA (www.insigniacap.com).

© 2018 Private Equity Professional | March 14, 2018

Wind Point Acquires Freight Force

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St. George Logistics, a portfolio company of Wind Point Partners, has acquired Freight Force. St. George Logistics was acquired by Wind Point in July 2016 from LongueVue Capital and Ironwood Capital.

Freight Force specializes in first mile and last mile transportation services and operates the nation’s largest network of independent carriers serving freight forwarders and other third-party logistics (3PL) providers. The company has partnerships with local and regional motor carriers in 52 metropolitan areas and can provide its services across the entire United States.

Freight Force serves more than 2,200 freight forwarders and 3PL providers and executes approximately 500,000 first and last mile deliveries annually. The company was founded in 1982 and is headquartered in Anaheim, CA (www.freightforce.com).

St. George Logistics (STG) is a provider of container freight station (CFS) services for ocean and air cargo imported into the United States. The company also provides logistics services, including contract warehousing, distribution, e-commerce fulfillment and transportation services. The STG customer base includes freight forwarders, neutral NVOCCs (non-vessel operating common carriers), retailers, consumer packaged goods companies, and other businesses. The company is headquartered near Newark in South Kearny, NJ with additional facilities located in the nation’s largest ports and metropolitan areas, including Los Angeles, Houston, Chicago, Atlanta, Savannah and Charleston (www.stgusa.com).

“The expansion of our first and final mile services has been a critical strategic initiative for STG as we are eager to respond to the surge in demand for our domestic transportation management services,” said Hessel Verhage, STG’s President and CEO. “We can now offer specialized equipment, TSA certified carriers, compliance with tight timelines for air and ocean delivery cutoffs, and ample storage space nationwide in support of our clients’ first and final mile needs.”

Freight Force management, led by Chris Coppersmith, will continue with the business and will join St. George Logistics as shareholders and senior members of its operations management team.

“We are very excited to continue our support of STG’s robust acquisition program,” said Konrad Salaber, a Managing Director at Wind Point Partners. “Consistent with our original investment thesis, the STG team is building a truly unique enterprise that stands as a leader in the global supply chain. Freight Force is the sixth add-on we have acquired since forming the platform in July 2016 and we expect that acquisitions will continue to complement STG’s strong organic growth as a driver of future value creation.”

“Fueled by e-commerce and increased specialization among freight forwarders, the first and final mile segments are among the highest growth but most challenging components of the global supply chain,” said Chris Jamroz, Executive Chairman of STG. “Freight Force immediately enables STG to offer a compelling first and final mile solution to our diverse base of customers and will help them compete in one of the fastest growing sectors of the logistics industry.  Freight Force is the perfect complement to our existing suite of national value-added warehousing, fulfillment, distribution and transportation services.”

Wind Point invests from $30 million to $150 million in companies with revenues from $100 million to $500 million and EBITDAs of at least $10 million. Industries of interest include business services, consumer products and industrial products. Wind Point was founded in 1984 and is based in Chicago. In June 2017, Wind Point held a final closing of its eighth fund, Wind Point Partners VIII LP, with $985 million of capital commitments. The fund exceeded its initial hard cap of $750 million and marks the largest fund closing in Wind Point’s history (www.wppartners.com).

© 2018 Private Equity Professional | March 14, 2018

Wild Sports Builds with KanJam Buy

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Wild Sports, a manufacturer and provider of licensed and branded tailgating, homegating and outdoor games, has acquired KanJam.

KanJam is a manufacturer of backyard, beach and party games and is best known as the pioneer and inventor of the popular disc sport KanJam. KanJam was created in the 1980s by Charles Sciandra and Paul Swisher in Buffalo, New York, and was originally called “Garbage Can Frisbee” (www.kanjam.com).

Wild Sports’ products are sold at big-box retailers and also through online retailers. The company’s products include games such as Cornhole, Tailgate Toss and Stackers, in addition to other tailgating accessories such as team branded tables and chairs.  Wild Sports has licenses with the NFL, MLB and NHL and has more than 500 licenses with universities and colleges across the country. The company is headquartered north of Indianapolis in Westfield, IN (www.wildsports.com).

In September 2017 Wild Sports was acquired, in partnership with the company’s founders Todd Hines and Gregg Browne, by Expedition Capital Partners, Centerfield Capital Partners and Cardinal Equity Partners.

The buy of KanJam is a natural product extension for Wild Sports and the company continues to be interested in acquiring other products in the outdoor gaming, homegating and tailgating sectors. Typical add-on acquisitions will have retail and online distribution, revenues of greater than one million, and positive EBITDA.

Expedition Capital Partners, based in Chicago, invests in lower middle market companies that have at least $2 million of EBITDA.  Sectors of interest include business services; consumer products and services; distribution; education and training; health care; infrastructure; and manufacturing (www.expedition-partners.com).

Centerfield Capital Partners provides from $7 million to $35 million of subordinated debt and equity financing to middle-market companies that have $15 million to $100 million of revenue and $3 million to $15 million of EBITDA. The firm is based in Indianapolis (www.centerfieldcapital.com).

Cardinal Equity Partners invests from $2 million to $7 million of equity in companies that have from $5 million to $50 million of revenues and $1 million to $5 million of EBITDA. Sectors of interest include niche manufacturing, value-added distribution, consumer products, and service companies. The firm was founded in 1993 and is headquartered in Indianapolis (www.cardinalep.com).

© 2018 Private Equity Professional | March 14, 2018