Capstone Logistics Signs Definitive Agreement to Acquire Insource Performance Solutions

PEACHTREE CORNERS, Ga. -- Capstone Logistics, LLC ("Capstone" or the "Company"), a leading provider of end-to-end supply chain solutions, announced today that it has acquired Insource Performance Solutions, LLC ("Insource") for cash from management. Insource is a Charlotte, North Carolina-based warehouse services company providing a range of value-added, outsourced services to distribution centers. Founded in 1997, Insource serves a variety of customers at 27 distribution facilities in eight different States.

"We've been following the Insource story for a long time and are very impressed with the way they have grown their company," said Steve Taylor, Chief Executive Officer of Capstone. "With this transaction, Capstone not only broadens its service offerings and customer base further into Consumer Packaged Goods Retail, but we are also bringing on an experienced, well-regarded management team. Mike Price and his colleagues are a natural fit with how we run Capstone, and we are excited about the opportunity to partner with them."

"With their national footprint and resources, Capstone is the ideal partner for Insource to continue growing with our distribution and consumer products clients," said Mike Price, CEO of Insource. "We share a passion for service and a commitment to a performance-based model that benefits both our client partners and associates. Once we met Steve and his team, it was clear that our cultures were very similar, and the benefits to combining both companies would be substantial for our team members and clients."

Capstone is currently owned by affiliates of H.I.G. Capital and The Jordan Company, L.P. and Capstone's management team.

About Capstone Logistics

Capstone Logistics is a national 3PL which provides specialized, technology-enabled solutions for the most challenging supply chains. Underpinned by a powerful, interconnected platform, Capstone creates end-to-end efficiencies and cost-savings that help suppliers, distributors, and retailers exceed customer expectations. From performance-driven labor solutions to high-touch transportation and fulfillment, Capstone delivers the scale, accountability, and continuity that enables modern supply chains to compete in an ever-evolving environment. For more information, visit https://www.capstonelogistics.com/.

About Insource Performance Solutions, LLC

Insource is a warehouse services company providing a range of value-added, outsourced services to distribution centers. The Company works to refine, manage, and execute labor-intensive processes within customers' manufacturing and distribution facilities to produce outstanding performance-based results. For more information, visit https://www.insourceperforms.com/

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

1. H.I.G.'s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.

2. H.I.G.'s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.

3. H.I.G.'s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at https://www.higcapital.com/.

About The Jordan Company

TJC, founded in 1982, is a middle‐market private equity firm that has managed funds with original capital commitments in excess of $17 billion and a 39‐year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation & Logistics, Healthcare & Consumer, and Telecom, Technology & Utility. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. TJC has offices in New York, Chicago and Stamford. For more information, please visit https://www.thejordancompany.com/.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Related link: https://www.capstonelogistics.com/

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