CHICAGO and CHINO, Calif. and SURREY, British Columbia, March 09, 2021 (GLOBE NEWSWIRE) — Granite Creek Capital Partners a private investment firm based in Chicago, today announced its portfolio company, Sunset Pacific Transportation, acquired Radius Global Solutions a Canadian corporation.
“The acquisition of Radius Logistics represents a significant addition to the fast-growing Sunset Pacific platform, bringing together two operationally-strong companies and expanding their geographic footprint to include two of North America’s major logistics hubs,” said Brian Boorstein, Co-founding Partner of Granite Creek. “In particular, the acquisition of Radius Global Solutions will provide Sunset Pacific with a strong footprint in Canada.”
Granite Creek partnered with supply chain and logistics expert Red Arts Capital and senior lender TCF Funding to acquire Sunset Pacific in September 2019. Sunset Pacific is an asset-light consolidator and logistics provider focused on the niche between less-than-truckload and truckload shipments, known as volume LTL. Operating out of its facility in Chino, CA, Sunset Pacific provides consolidation services and delivers nationwide directly to its customers.
British Columbia-based Radius Logistics is also an asset-light third-party logistics company that provides logistics services, including less-than-truckload transportation, cross-border consolidation, intermodal, specialty truckload and flatbed, and warehousing services throughout Canada and the United States. With Sunset Pacific and Radius Logistics coming together, Red Arts will oversee both subsidiaries and facilitate bringing the company’s suite of capabilities to its broad customer base across North America.
“This combination creates a unique integrated warehousing and logistics platform capable of serving a comprehensive set of customers with an expansive array of supply chain services to meet their global supply chain needs,” said Chad Strader, Co-Founder and Co-CEO of Red Arts Capital. “By consolidating freight in our Southern California and Vancouver locations in conjunction with our ability to coordinate and offer trucking, rail, and air transportation under one roof, we can deliver a customized, cost-effective service that spans the U.S. and Canada. This marks our first step in augmenting our service offerings, and we will look to add additional ones through other acquisitions.”
About RAC Sunset, Inc.
RAC Sunset, Inc., headquartered in Chicago, serves as the holding company for Sunset Pacific Transportation, Inc., Sunset Pacific Logistics, Inc. and Radius Global Solutions, LLC. RAC Sunset is one of North America’s leading consolidators and logistics providers, offering volume LTL, truckload, and less-than-truckload alternatives to direct shippers and 3PLs as well as rail / intermodal, port drayage and transloading shipment services from its integrated warehouses. Operating out of its Chino, CA and Surrey, B.C. facilities, the company’s geographic footprint is strategically located in two major gateways for North American freight flows, enabling it to provide an extensive suite of supply chain services to global customers.
About Granite Creek Capital Partners, L.L.C.
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. In addition to providing funding to lower middle market companies, in 2011 Granite Creek co-founded Renovo Financial, one of the largest regional private lenders serving real estate entrepreneurs. Granite Creek was recently named to Inc.’s 2020 Private Equity 50 list. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.
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Lisa Hendrickson, LCH Communications
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