Fort Point Stays Busy with Buy of Yandell

Fort Point Stays Busy with Buy of Yandell

The acquisition of Yandell is the tenth transaction closed by Fort Point over the past twelve months

Yandell is headquartered near San Francisco in Benicia, California, and its services includes transportation, warehousing, and logistics.

SOURCE: Getty Images

Fort Point Capital has acquired The Yandell Family of Companies, a provider of transportation and logistics services to the wine, food, and beverage industries.

Yandell’s services include transportation, warehousing, and logistics, which are provided by SC Warehouses, an operator of temperature-controlled warehouses; Yandell Truckaway, a provider of transportation and trucking services throughout Northern and Central California; and Yes! Logistics, a provider of freight brokerage services. Yandell was founded in 1945 and is headquartered near San Francisco in Benicia, California.

Source: Yandell Truckaway

“After operating independently for the last 78 years, our family is excited to be partnering with Fort Point Capital,” said John Yandell Jr., the president of Yandell. “Their extensive experience investing in the logistics space combined with their partnership approach will provide us with the resources we need to enhance our service offering, invest in sales and marketing, and expand geographically.”

“Yandell is a well-established player in the wine logistics space and has built a strong reputation as a critical supply chain partner to the winery ecosystem,” said Christina Pai, a partner at Fort Point Capital. “We are excited to partner with the Yandell team and support their vision for growth and expansion.”

“We have been impressed with Yandell’s long history and track record of delivering high touch service to many of the leading wineries in the U.S. today,” said Michael Brofft, Vice President at Fort Point Capital. “Yandell has built a compelling service offering that eliminates operational complexity for its customers, allowing them to focus on their core operations of producing wine, food, or other beverages.”

Boston-based Fort Point invests from $10 million to $30 million of equity in lower middle-market companies that have enterprise valuations of $20 million to $100 million. Sectors of interest include business services, healthcare services, information and software, and transportation and logistics.

In September 2022, Fort Point held an oversubscribed, hard cap, and final closing of its third private equity investment fund, FPC Small Cap Fund III LP and FPC Small Cap Fund III-A LP, with $340 million in capital commitments. The firm began fundraising in March 2022 with an initial target of $250 million.

The firm’s earlier fund, FPC Small Cap Fund II LP (FPC II), closed in January 2021 with $194 million of capital. The acquisition of Yandell is Fort Point’s sixteenth platform investment overall and the eighth investment from FPC II.

Including the acquisition of Yandell, over the past twelve months, Fort Point has closed ten transactions, including the exit this month of South Dakota-headquartered Sullivans, a designer and distributor of seasonal, all-occasion, and outdoor home décor products; four new platform investments including Toronto-headquartered Nova, a provider of digital advertising software; Florida-based ROX360, a provider of tech-enabled marketing and logistics software used by vacation rental management companies; and Ohio-based Jones Fish Hatcheries & Distributors, a provider of pond and lake management services. Fort Point has also closed five portfolio company add-on acquisitions.

Minneapolis-headquartered NorthCoast Mezzanine and Live Oak Bank provided debt financing to support the acquisition of Yandell.

© 2023 Private Equity Professional | February 21, 2023

To search in site, type your keyword and hit enter