Cascadia Capital is pleased to announce that our client FragilePAK, a turnkey provider of technology-enabled logistics services has been acquired by Greenbriar Equity Group, L.P. (“Greenbriar”), the premier private equity firm in transportation and logistics. Cascadia has enjoyed a long-term relationship with FragilePAK, advising them in 2017 in raising capital from HCAP Partners and again in 2019 with an investment from Columbia Pacific Partners. The company has since experienced explosive growth, which when combined with Greenbriar’s extensive logistics sector expertise and strategic industry relationships and resources will continue to accelerate.
FragilePAK, based in Henderson, Nevada, was founded in 2015 by CEO Joel Ritch and President Julian Ludlow with a vision to create a nationwide branded delivery system that meets the unique demands of the e-commerce marketplace. FragilePAK’s market leading differentiation is in its software platform that automates and consolidates supply chain logistics, allowing multi-channel retailers to deliver oversized and challenging products to consumer homes without damage.
“We started FragilePAK with a vision to develop the premier technology-based logistics services platform in the industry,” said Joel Ritch, CEO of FragilePAK. “The Cascadia team has believed in our vision since the beginning, supporting our every need over the past several years. Their deep logistics and technology expertise and market connectivity made them the ideal partner to tell our unique story and help us achieve an outcome well beyond our expectations.”
“The consumer paradigm shift from traditional brick-and-mortar to omnichannel retail is driving technology-enabled logistics investments as the supply chain evolves and consumers seek a high spec delivery experience,” said Firdaus Pohowalla, Cascadia Managing Director and head of the firm’s Supply Chain and Logistics Technology practice. “COVID-19 has accelerated e-Commerce growth, causing a fundamental and permanent shift in consumer purchasing behavior. Market leading software driven logistics companies like FragilePAK are in an ideal position to attract investor attention and maximize their value opportunity in 2021.”
The acquisition represents another successful transaction for Cascadia in the supply chain and logistics sector. Similar prior transactions include the sale of Cory Home Delivery to J.B. Hunt, the acquisition of Hany Truck Line by Wilson, and the sale of Watkins Shepard to Schneider.
For more information about this transaction, please contact the Cascadia Capital deal team:
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