H.I.G. Capital, a global alternative investment firm with $58 billion of capital under management, announced that one of its affiliates has signed a definitive agreement to acquire Ascent Global Logistics, a Belleville, Michigan-based provider of technology-enabled, expedited logistics and supply chain solution services, from affiliates controlled by Elliott Investment Management L.P.
The amount of the deal – whose closing is subject to completion of customary closing conditions, including regulatory review – was not disclosed. Ascent’s management team will remain shareholders in the Company. Elliott has also agreed to retain a minority stake in the company.
Ascent is a global industry leader in on-demand ground and air expedited logistics solutions, truck brokerage, freight forwarding, and other value-added transportation services. Through its proprietary, digital PEAK marketplace, the company connects its blue-chip customer base to a network of partner carriers. Ascent’s offerings include air charter and ground expedited solutions as well as truckload, less-than-truckload, global forwarding, brokerage, and managed transportation services. Its customer base includes multinational leaders in mobility, manufacturing, aerospace, technology, consumer, and healthcare markets.
FinSMEs
23/08/2023