G2 served as exclusive buy-side advisor to Direct Connect Logistix, a portfolio company of Huron Capital, on the acquisition of Performance Logistics
Direct Connect Logistix (“DCL” or the “Company”) is a leading, non-asset based, multi-modal, third-party logistics company providing transportation solutions for customers of all sizes. Since its founding in 2009, DCL has developed expertise in the temperature-controlled, time and condition critical truckload segment serving the food, grocery, beverage, and related industries.
DCL’s unique HUSTLE culture has fueled its growth by defining how the company serves its customers, carriers, investors, employees, and the community at large by providing high performance logistics management solutions that enable sustainable, responsive, and efficient customer supply chains. For more information, please visit: www.dclogistix.com.
DCL’s management team established a growth strategy focused on the acquisition of complimentary partners who provide talent and expertise in specialty markets. DCL is focused on four core criteria to evaluate acquisition opportunities: (a) service capabilities which overlap DCL’s core operations; (b) skills or technologies that provide capability outside of DCL’s internal skillset; (c) exploit industry specific scalability; and (d) attract growth-oriented business owners that are seeking to partner with a larger organization.
G2 Capital Advisors, LLC (“G2”) was engaged by DCL as the exclusive buy-side advisor to identify, source and engage with targets that provide transportation and logistics services supporting food, beverage, and grocery market sectors and fit with the Company’s asset light acquisition profile.
The transaction was successfully executed on February 17, 2022, through an acquisition of Performance Logistics (“PL”) by DCL. The combination of Performance Logistics’ refrigerated and frozen food transportation services and large customers in the Mountain West strengthens DCL’s capabilities, customer base and geographic reach.
“G2 identified and sourced a target that was not only a perfect fit but also met all four of DCL’s acquisition criteria. G2 formed a unique relationship with the target’s ownership, who, at the time of initial engagement, were not seeking a transaction. Through the establishment of genuine trust and deep credibility, the target moved forward with discussions. “We couldn’t be happier to partner with Performance Logistics. We believe that both companies will benefit as we continue to execute our strategic growth plan. ,” said Richard Piontek, CEO of DCL.
“Performance Logistics fits perfectly into DCL’s unique HUSTLE culture which made the business combination a logical fit. Given PL’s location in the Mountain West region and deep expertise in refrigerated and frozen food capabilities, the groups will be able to attract talent in a dynamic, growing city and generate a transformative growth curve”, said Christopher Casteleyn, G2’s Managing Director for Transportation & Logistics. “Our team thoroughly enjoyed working with both groups and we look forward to observing the success of what we feel will be a highly accretive acquisition.”
About G2 Capital Advisors
G2 Capital Advisors provides M&A, capital markets and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.
CONTACTS ON THIS DEAL:
Chris Casteleyn: Managing Director, T&L: T: 415.531.3138 E: [email protected]
Andrew Keleher: Director, T: 860.748.6480 E: [email protected]
Matt Ball: Sr. Associate: T: 978.914.4421 E: [email protected]
Noah Johnson: Sr. Analyst: T: 717.598.8558 E: [email protected]