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The deal helps the logistics provider—who operates in the healthcare space—continue to grow its services.
Investment firm H.I.G. Capital has signed a definitive agreement to acquire Ascent Global Logistics, a provider of technology-enabled, expedited logistics, and supply chain solution services, from affiliates controlled by Elliott Investment Management L.P. Ascent’s management team will remain shareholders in the company, while Elliott has also agreed to retain a minority stake.
Ascent offers on-demand ground and air expedited logistics solutions, truck brokerage, freight forwarding, and other transportation services. Via its proprietary, digital marketplace, the company aims to connect its customer base—featuring the healthcare, mobility, manufacturing, aerospace, technology, consumer markets— to a network of partner carriers.
“Ascent … is uniquely positioned to meet the increasing complexity within global supply chains,” comments Rob Jang, managing director at H.I.G. “We are excited to support Ascent’s growth strategy of investing in technology, broadening its unique capabilities, expanding its global reach, and enhancing its strategic carrier network through organic initiatives and acquisitions.”