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Private Equity

Sun Capital seals ‘sweet spot’ Century Distribution Systems buyout to tap into $84bn ocean freight forwarding market

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Private equity house Sun Capital Partners has completed a buyout of Century Distribution Systems, a global digital logistics provider offering supply chain management and freight forwarding services.

The 52-year-old business provides SKU-level purchase order management, document management and compliance services, vendor and carrier management, visibility management and consolidated shipment optimization of less-than-containerload freight.

Sun Capital co-CEO Marc Leder said, “Century fits nicely in our sweet spot, as a defensible business that provides a critical service to retailers and manufacturers, and it aligns well with our operational focus and extensive experience with corporate carve-outs.

“The company’s long track record of reliable execution, knowledge of industry dynamics and customs, strong infrastructure and blue-chip client base are all great strategic advantages.”

Sun said the $84bn global ocean freight forwarding market expanded by 3% annually from 2010 through 2020, and is projected to accelerate to 4% through 2024, driven largely by growth in worldwide e-commerce.

The buyout is the latest of more than 60 corporate carve-outs completed by Sun Capital, including Aclara, Unico Technologies Group, Critical Flow Solutions, Elix Polymers and WesCom Signal & Rescue.

Other deals done by Sun this year include sealing a quick exit of crushed stone and sand specialist StonePoint to trade buyer Arcosa in March, after just over two years of ownership.

The private equity firm picked up StonePoint in December 2018, when it was known as VantaCore Partners.

Last week Sun’s European affiliate sealed a roughly $475m sale of UK bed and mattress retailer Dreams to trade buyer Tempur-Sealy.

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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/sun-capital-seals-sweet-spot-century-distribution-systems-buyout-to-tap-into-84bn-ocean-freight-forwarding-market.html

Private Equity

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Private Equity

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Exclusive: Alto Partners pre-marketing upscaled successor to €210m Fund IV

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Italian buyout house Alto Partners has had “positive responses” from LPs in the pre-marketing phase for its

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Aviation

KKR launches aviation lending business with $800m loan portfolio purchase

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Global private equity major KKR has agreed to buy an almost $800m-strong aviation loan portfolio from CIT Group.
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