Progressive Logistics Services, L.L.C., an Atlanta, GA-based national provider of outsourced, productivity-driven workforce solutions for supply chains in the grocery, foodservice, retail and specialty automotive industries, has completed a recapitalization with an affiliate of private equity investment firm H.I.G. Capital, L.L.C.
Founded in 1996, PLS provides corporate clients in the automotive, grocery/foodservice and retail sectors with managed on-site workforce solutions at 100+ distribution centers nationwide, which are designed to improve unloading times, throughput rates and service accuracy, and reduce costs.
Following the transaction, the existing management team, led by CEO Tom Caudell and COO Mike Adams, will continue to manage and operate the business.
The company currently has about 3,500 employees.
As stated by Tom Caudell, H.I.G. Capital will be critical in helping to take PLS to the next phase of development. “As we strive to continue as valuable, long-term partners to our clients, we will also evaluate and pursue new avenues for growth, both organic and strategic,” he said.
FinSMEs
14/01/2011