An affiliate of alternative investment firm HIG Capital has completed the acquisition of CargoTuff, a manufacturer and distributor of load securement products. CargoTuff’s management team, led by Co-CEOs Helmut Elze and Selim Akdogan, will continue to lead the company.
Founded in 2014 and headquartered in Virginia, CargoTuff manufactures a complete line of dunnage airbags, lashing, strapping, and related load securement solutions used across rail, ocean, truck, and intermodal shipping applications to prevent load shifting and reduce freight damage.
The company serves a customer base which spans transportation, logistics, consumer goods, and industrial end markets. Houlihan Lokey and William Blair served as exclusive financial advisors to CargoTuff and HIG Capital, respectively.
