OFS Capital Corporation (NASDAQ: OFS) and Ironwood Capital have a made a debt investment to support a recapitalisation of Performance Team, a Los Angeles-based third-party logistics and distribution provider, offering consolidation, warehousing, distribution and transportation services across the US.
“OFS Capital has a long history of partnering with owners and management teams of family-owned companies to help them grow their businesses. We are excited to partner with Performance Team, a second-generation family-owned and operated company, to enable the buy-out of an existing equity owner and be a part of the Company’s continued growth and success,” says OFS Capital Senior Managing Director Mark Hauser.
“Performance Team has a national footprint and significant scale. Since 1987, company management, currently led by CEO Craig Kaplan, has done an outstanding job building a national distribution and transportation powerhouse with a corresponding increase in its customer base,” says Ironwood Capital President and Chief Investment Officer Carolyn Galiette. “We’re pleased to be part of this growth story.”