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Jordan Co cleared to buy Capstone Logistics

  • Resolute Fund III acquiring Georgia company
  • Capstone Logistics formed after 2011 merger
  • Jordan Company declines to comment

The Federal Trade Commission approved the purchase for an undisclosed sum of Capstone Logistics by The Resolute Fund III, Jordan Company’s $3.2 billion flagship buyout fund that targets mid-market companies with enterprise values of $100 million to $2 billion.

A spokeswoman for The Jordan Company said the Capstone Logistics deal marks the third from Resolute Fund III. A call to Capstone Logistics was not returned.

Capstone Logistics resulted from the combination three years ago of Progressive Logistics Services (PLS) and LMS Intellibound (LMS) to create a “pay-for-performance” workforce provider to the warehouse, distribution and manufacturing industries, according to the company’s website. Capstone Logistics senior management includes Tom Caudell, chairman, CEO Steve Taylor and CFO Bill Harper.

The Jordan Company announced the close of the Resolute Fund III in May at its hard cap. Five long-time managing partners oversee the fund: John “Jay” Jordan II, Jonathan “Jeb” Boucher, A. Richard “Rich” Caputo, Adam Max and Thomas Quinn.

“We continue to believe middle market businesses with solid market positions and good growth prospects are an attractive place to invest,” Caputo said in a prepared statement at the time. Caputo is also co-CEO and co-founder of The Jordan Company.

Among Jordan Company’s recent deals, it purchased Drew Marine Global Holdings, a manufacturer of performance chemicals, from J.F. Lehman & Company last November for an undisclosed sum. In January, The Resolute Fund LP agreed to sell chemical supply chain specialist Haas Group Inc to Wesco Aircraft Holdings Inc for $550 million in cash.