H.I.G. Capital News
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H.I.G. Capital Acquires Nations Express
Expanding Global Transportation and Scheduled Service Solutions in First Half of 2009 with Express Trucking Services Provider
MIAMI - August 20, 2009 - H.I.G. Capital, announced the acquisition of a majority ownership interest in Nations Express, a nationwide express transportation company based in Charlotte, NC that operates a fleet of approximately 200 trucks. The second quarter acquisition was made through Amerijet, an existing H.I.G Capital company, and a leading multi-modal cargo solutions provider to the Caribbean, Mexico and Latin America. Amerijet provides scheduled cargo service and charter cargo service to more than 550 destinations worldwide.
"The addition of Nations Express significantly strengthens Amerijet's service offering and geographic reach in the Continental U.S., commented Doug Berman, Managing Director at H.I.G. Capital. We are excited to leverage the strength of Amerijet's diversified customer base and successful scheduled service model to grow the market share of Nations Express. We are also excited to be working with the talented management team at Nations Express."
John R. Nash, CFO of Amerijet stated "Nations Express represents a company doing all the right things, at the right time, and a company we believe is a unique fit with Amerijet and our global logistics services. We believe our two companies service customers who desire specialized services and that our products, whether combined or sold separately will be valuable to each of our customers. H.I.G.'s resources and partnership are providing us with an opportunity for continued expansion globally."
William R. Frazier, Nations Express President and CEO further added, "The investment by Amerijet will provide the additional capital necessary for the Company to take advantage of a number of exciting growth opportunities in the ground freight transportation industry as well as new freight service opportunities offered by Amerijet International, Inc. We look forward to working with the professional management team associated with Amerijet."
About Nations Express
Nations Express is a nationwide express trucking company that provides a full range of expedited and time sensitive transportation solutions to customers globally. Based in Charlotte, NC, the firm handles time critical freight, from 1 to over 45,000 pounds, with a focus on personal customer service. Nations Express operates with 20 locations across the United States as well as agent partners around the world.
Amerijet International, Inc. is a full-service multi-modal transportation and logistics provider, offering international, scheduled all-cargo transport via land, sea, and air. Florida-based Amerijet operates offices all over the world, serving destinations throughout the America's, Mexico, the Caribbean, Europe, Asia, and the Middle East. Amerijet operates Boeing 727-200 and Boeing 767-200 aircraft from its primary hub at Miami International Airport. For additional information, visit Amerijet on the web at www.amerijet.com.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $7.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, San Francisco and New York in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies. H.I.G. invests in management-led buyouts and recapitalizations of businesses across a wide range of industries. With a team of more than 150 investment professionals, most with significant operating expertise, H.I.G. has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.