Wind Point Partners announced that St. George Logistics (“STG”) has acquired the Extra Express (“Extra”) division of Dicom Transportation Group.
The acquisition allows STG to complement its full array of drayage, warehousing, container freight station (“CFS”), and intermodal transportation capabilities with comprehensive solutions for last mile delivery.
STG is North America’s largest provider of outsourced CFS services and a leading provider of value-added warehousing and distribution services. Dicom is one of the largest providers of regional, expedited ground transportation services in North America. Both companies are majority-owned by Wind Point.
Founded in 1982, the Extra Express division of Dicom provides comprehensive warehousing and related delivery services to blue-chip accounts throughout California. Extra operates four warehouse facilities and maintains access to a network of more than 300 delivery vehicles.
STG plans to leverage Extra’s capabilities to introduce local last mile delivery services across its network, which includes 32 facilities totaling over five million square feet of space. STG will launch last mile delivery services in California in May 2017 and plans to establish last mile services at other port and inland facilities later this year.
Wind Point acquired STG in July 2016 in partnership with logistics executives Chris Jamroz and Hessel Verhage. Extra is STG’s fourth add-on acquisition since Wind Point established the platform ten months ago.
Raymond James served as the exclusive financial advisor to STG. Barclays served as the exclusive financial advisor to Dicom. Antares Capital, LStar Capital, and NewStar Financial provided financing for the transaction.
Wind Point Partners is a private equity investment firm that has raised over $3 billion in commitments since 1984. Wind Point focuses on partnering with top caliber management teams to acquire middle market businesses where it can establish a clear path to value creation.
Jones Day has advised St. George Logistics on the deal with a team led by
Involved fees earner: Jackie Hodes – Jones Day;
Law Firms: Jones Day;
Clients: St. George Logistics (STG);