Ironwood Capital has exited from its subordinated debt investment in Performance Team.
The company was purchased by AP Moller – Maersk and will integrate its services with Maersk Warehousing & Distribution’s regional network of 20-plus facilities in the United States and Canada.
Headquartered in Los Angeles, California, Performance Team is an end-to-end third-party logistics and distribution provider, offering consolidation, warehousing, distribution and transportation services across the United States.
“Company management, led by CEO Craig Kaplan, has done an outstanding job building a national distribution and transportation powerhouse. Performance Team manages over 7 million square feet of warehouse space and serves over 5,000 customers,” says Ironwood Capital Senior Managing Director Roger Roche. “Our original growth thesis for this company has been more than validated in two short years. Our congratulations to Craig and his team!”