H.I.G Capital confirms purchase of Cardinal Logistics
The leading global private equity investment company, H.I.G Capital, has confirmed one of its affiliates has completed the purchase of Cardinal Logistics.
As a top provider of dedicated transportation and logistics services in North America, Cardinal provides fully outsourced transportation and logistics solutions to customers across diverse end markets. Cardinal’s dedicated contract carriage enables customers to lock in dedicated fleet and drivers, servicing complex route structures with scheduled pick-ups and deliveries across distribution centres, suppliers and stores.
Richard Stokes, Managing Director at H.I.G, said: “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. 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.”
Vin McLoughlin, Cardinal’s Chairman, commented: “Partnering with H.I.G. enables Cardinal to continue delivering excellent service while also pursuing growth opportunities with both existing and new customers.”
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.”