Wind Point Partners has announced that St. George Logistics (STG) has acquired the Extra Express (Extra) division of Dicom Transportation Group (Dicom), the firm said.
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.
The Extra Express division of Dicom provides comprehensive warehousing and related delivery services to blue-chip accounts throughout California. The division 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.
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.
STG is a North American provider of outsourced CFS services and value-added warehousing and distribution services.
Dicom is a provider of regional, expedited ground transportation services in North America. Both companies are majority-owned by Wind Point.
Wind Point Partners is a private equity investment firm that has raised over USD 3bn in commitments since 1984. The firm focuses on partnering with top caliber management teams to acquire middle market businesses.