(MENAFN- PR Newswire) NEW YORK, Aug. 1, 2023 /PRNewswire/ --
Soundcore Capital Partners ("Soundcore") a New York-based private equity firm, is pleased to announce it completed the sale of Custom Goods, one of the fastest-growing 3PL providers in the country, to Angeles Equity Partners, on July 19, 2023.
Headquartered in Carson, CA, Custom Goods is a full-service logistics company with a focus on Warehousing, Transportation, Specialty Freight Forwarding Services, and Custom Examination Sites, with a 175+ truck fleet and 6.5+ million sq. ft. of warehouse space throughout the country.
"We are grateful for the support of Soundcore over the past 3 years," said Tony Gregory, CEO of Custom Goods. "Together, we have increased our national footprint and look forward to continuing the growth strategy accelerated under Soundcore's ownership."
Soundcore initially invested in Custom Goods in April 2020. During the three-year hold, consistent organic growth initiatives included additional square footage added, further penetration of existing customers, and addition of new customers. In November 2021, Soundcore oversaw Custom Goods's acquisition of Quik Pick Express. Soundcore also supported management in developing greenfields for two additional locations. Soundcore supported management as they bolstered the team with several key senior-level additions including a new CFO, COO and EVP of Business Development, and hired its first General Counsel and VPs of Operations.
Financial terms of the transaction were not disclosed. Lincoln International served as the financial advisor and K&L Gates served as legal counsel to Custom Goods.
About Custom Goods
Custom Goods is a California headquartered, fully integrated logistics platform, with a national footprint, offering customized logistics solutions to a broad base of customers. The platform is a single source provider of end-to-end drayage, warehousing, transloading, value added packaging & fulfillment services & freight consolidation. Custom Goods has a strategic national footprint with presence at key U.S. ports and logistics hubs, including facilities spanning 6.5M+ sq. ft. and has deep relationships with blue chip customers. The company has been in operation for over 50 years. For more information, please visit:
About Soundcore
Soundcore Capital Partners was founded in 2015 by Jarrett Turner and is based in New York, NY. Soundcore is a thesis-driven private equity firm that specializes in buy-and-build investments in the lower middle-market that are headquartered in the United States and Canada. Soundcore has completed 82
acquisitions across ten platforms and focuses primarily on business & outsourced services, industrial services, specialty manufacturing and value-added distribution sectors. For more information, please visit:
CONTACT:
Elizabeth Olt
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