Three years after acquisition of leading freight consolidator, the two Chicago-based private equity and investment firms shift stakes in the company.
CHICAGO–(BUSINESS WIRE)–Private equity firm Red Arts Capital, and private investment firm, Granite Creek Capital Partners, L.L.C., announced today that Granite Creek sold its equity and subordinated debt positions in the California-based Sunset Pacific Transportation, while Red Arts Capital and Prudential Private Capital acquired Granite Creek’s significant minority stake in Sunset Pacific.
Since Red Arts Capital and Granite Creek acquired Sunset Pacific Transportation in 2019, Sunset Pacific has successfully executed various organic growth initiatives and completed the acquisition of Radius Logistics, a Surrey, BC-based third-party logistics company. Granite Creek’s investment in Sunset Pacific Transportation was made from its $200 million fund, Granite Creek FlexCap II, L.P. (“FlexCap II”).
“Sunset Pacific has experienced significant growth since our investment just a few years ago, which was driven by an extraordinary management team,” said Nick Antoine, Co-CEO and Managing Partner at Red Arts Capital. “This recapitalization enables us to continue to provide Sunset Pacific with the capital and resources needed to expand the Company’s service capacity and best position the business for its next stage of growth.”