Middle-market private equity firm Red Arts Capital announced Thursday the acquisition of packaging and supply chain services company Coregistics.
Financial terms of the transaction were not disclosed.
“The Coregistics team has demonstrated an extraordinary track record of excellence in contract logistics and packaging, which we believe stems from a team and culture laser-focused on high-quality service,” said Chad Strader, co-founder and managing partner at Red Arts. “We believe that Coregistics’ culture uniquely positions them to benefit from the growing range of packaging needs spurred by continued e-commerce developments.”
“Coregistics service offering fits squarely within Red Arts’ sector focus and investment approach in the supply chain space,” a press release read. “The Red Arts team believes that past success and continued growth in e-commerce will positively impact packaging services demand, and Coregistics is well positioned to provide much needed third-party logistics services in the U.S. market.”
Red Arts’ current investments also include volume LTL provider Sunset Pacific Transportation and Canadian 3PL Radius Logistics.
“Our culture is central to everything we do and is the foundation for the best-in-class service our team provides to our customers every day,” stated Coregistics CEO Eric Wilhelm. “The team at Red Arts Capital shares our belief in the importance of culture, dedication to excellence and best-in-class service and we are excited to welcome them as our new partner as we continue to grow our company.”
Debt financing for the transaction was provided by Brightwood Capital Advisors. Republic Partners was the financial adviser to Coregistics.
