An affiliate of global private equity firm HIG Capital has made a strategic investment in Raymond Express International (REI).
Founded in 1983, REI is an asset-light logistics provider specialising in transportation solutions for temperature-sensitive products.
From its facilities in San Francisco, Los Angeles, and Seattle, the company primarily services military and commercial customers seeking to transport perishables from the West Coast of the US to Asia.
HIG has partnered with REI’s founder, chief executive Raymond Wong, and his co-shareholder and executive vice president David Moore to continue the company’s 30 year track record of providing efficient logistics services to its customer base. Enlightenment Capital, an aerospace, defence and government focused investment firm, invested alongside HIGCapital.
“We are excited to have HIG Capital lead this investment in REI,” says Wong. “HIG recognises the critical role we play for our customers and is committed to expanding our capabilities to even better serve our markets.”
Neil Tuch, a managing director at HIG Capital, says: “Raymond and Dave have built a world-class logistics provider which serves a critical role for REI’s military and commercial customers. We are thrilled to partner with them to continue the company’s strong growth and further expand REI’s market-leading solutions.”
