H.I.G. Capital Announces Strategic Investment in Raymond Express International
SAN FRANCISCO, CA – June 4, 2013 – H.I.G. Capital, LLC, a leading global private equity firm, is pleased to announce that its affiliate has made a strategic investment in Raymond Express International (“REI” or the “Company”). Founded in 1983, REI is an asset-light logistics provider specializing in transportation solutions for temperature-sensitive products. From its facilities in San Francisco, Los Angeles, and Seattle, the Company primarily services military and commercial customers seeking to transport perishables from the West Coast of the United States to Asia.
H.I.G. has partnered with REI’s founder, CEO Raymond Wong, and his co-shareholder and EVP David Moore to continue the Company’s thirty-year track record of providing the most reliable and efficient logistics services to its customer base. Enlightenment Capital, an aerospace, defense & government focused investment firm, invested alongside H.I.G.Capital.
“We are excited to have H.I.G. Capital lead this investment in REI,” said Raymond Wong. “H.I.G. recognizes the critical role we play for our customers and is committed to expanding our capabilities to even better serve our markets.” Dave Moore added, “We see a number of factors driving greater demand for our services in the years ahead and this investment will help us grow to meet that demand with our same exceptional customer service levels.”
Neil Tuch, a Managing Director at H.I.G. Capital, commented, “Raymond and Dave have built a world-class logistics provider which serves a critical role for REI’s military and commercial customers. We are thrilled to partner with them to continue the Company’s strong growth and further expand REI’s market-leading solutions.”
About Raymond Express International
Raymond Express is an asset-light logistics solutions provider headquartered in South San Francisco, California. REI provides logistics and transportation solutions for perishable, temperature sensitive products, including fresh fruits and vegetables, meat, seafood, and medicine. The Company specializes in the movement of goods from the U.S. West Coast to Asia. REI has cold storage facilities at key West Coast transportation hubs, including San Francisco, Los Angeles, and Seattle.
About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than $12 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com