Draper-based Performance Logistics, is a third-party logistics company with expertise in fulfilling time-sensitive and temperature-controlled shipments for customers primarily in the food and beverage market, has been acquired by Direct Connect Logistix (DCL). DCL is a third-party transportation and logistics services platform owned by Huron Capital Partners, a lower-middle-market private equity firm based in Detroit.
“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,” Huron Capital said in announcing the acquisition.
Performance Logistics’ existing management team will remain with the combined company to help lead an expansion plan for regional operations, Huron said. Terms of the deal were not disclosed.
“From the start of our discussions with Performance Logistics, we have been impressed by the company’s dedication to its customers, its growth capabilities and its roster of blue-chip food and beverage customers,” said Richard Piontek, CEO of DCL. “This acquisition provides us with a presence in the Mountain West for the first time and strengthens our refrigerated and frozen food capabilities. We also expect it will help us expand our customer base and increase market share with existing customers.”
Huron Capital bought Indianapolis, Indiana-based DCL in 2018 to create a new platform in the fragmented third-party logistics industry, the company said. DCL primarily serves the food, beverage and related industries in the South, Midwest and on the East Coast.