Temperature-controlled 3PL Direct Connect Logistix (DCL) announced Monday that it has acquired Performance Logistics.
Both companies primarily serve the food and beverage industries.
Founded in 2015, Draper, Utah-based Performance Logistics provides time- and temperature-sensitive 3PL services. The deal will add the Mountain West to DCL’s largely Midwest presence. The combination will result in a larger network of carrier capacity, which is expected to provide incremental brokerage revenue opportunities to both shops.
Financial terms of the transaction were not provided.
“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.
Performance Logistics’ management team will remain on board. The group will now be focused on building out DCL’s regional operations. Cameron George, current Performance Logistics director of operations, has been named regional vice president.
“We are very excited to combine our efforts with Direct Connect Logistix,” George said. “The combined scale of the two companies will enable us to deploy additional resources and technologies that will extend our reach, improve our service to our customers, carriers and result in new opportunities for people in both organizations.”
Indianapolis-based DCL is a portfolio company of Detroit-based private equity firm Huron Capital.
“The combination of DCL and Performance Logistics will provide employees from both companies with more opportunities to grow and succeed in their careers,” Piontek said. “As part of this partnership, we are also putting a greater emphasis on hiring top talent in the areas we service to continue on this path of expansion.”
Click for more FreightWaves articles by Todd Maiden.
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