The acquisition leverages Summit Eleven's expertise in temperature-controlled and flatbed transport to strengthen Zipline's service portfolio
COLUMBUS, OH / ACCESSWIRE / March 27, 2024 / Zipline Logistics, a third-party logistics provider exclusively servicing the consumer-packaged goods (CPG) sector, announced today its acquisition of Summit Eleven, a multi-modal transportation provider located in Austin, Texas. Backed by its private equity sponsor, Frontenac, this strategic move enables Zipline to expand its resources and opportunities to further its transportation management solutions and strengthen its foothold in the CPG space.
"Cultivating success isn't just about the numbers; it's about the shared values and vision that drive us forward. Our decision to acquire Summit Eleven was rooted in finding a partner whose culture and commitment to quality aligned with our own," said Walter Lynch, CEO of Zipline Logistics. "With an impressive management team and mutual commitment to exceptional service, this union allows us to expand our presence and navigate the vibrant landscape of Austin, Texas. Together, we're positioned to offer exceptional retail logistics solutions to fast-growing CPG brands, helping fuel their success and ours."
Headquartered in Austin, Texas, a central point for CPG, Summit Eleven is known for its customer-centric approach and rapid growth trajectory, mirroring Zipline's early beginnings. The acquisition capitalizes on Summit Eleven's temperature control and flatbed capabilities, strategic Austin location, and like-minded account management team. By merging the strengths of two customer-centric 3PLs and incorporating Summit Eleven's sales talent, Zipline is set up for continued growth, increased buying power and opportunities for employee advancement.
"Joining forces with Zipline Logistics marks an exciting new chapter for Summit Eleven. We are thrilled to offer our clients expanded modal capabilities and access to additional expertise from tenured retail logistics experts at Zipline," said Spence Manthe, CEO of Summit Eleven. "This strategic move propels us towards even greater heights, solidifying our commitment to delivering quality service and value to our clients."
"We are thrilled to further build on Zipline's CPG focus by partnering with Summit Eleven," said Joe Rondinelli, Managing Director at Frontenac. "Together, Zipline will be able to offer more logistics capabilities, especially in areas of temperature-controlled freight brokerage, which we believe will accelerate Zipline's growth and allow it to better serve its customers' supply chain needs."
G2 Capital Advisors served as the exclusive financial advisor and Winston & Strawn LLP served as legal counsel to Zipline Logistics on the transaction.
For more information about Zipline Logistics and its acquisition of Summit Eleven, please visit https://ziplinelogistics.com/.
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About Zipline Logistics
Zipline Logistics is a leading third-party logistics solutions provider in North America exclusively servicing the consumer-packaged goods sector. The company's CPG-focused carrier network, strong team of retail transportation experts, and shipper intelligence tools can help to maximize client revenue and gross margin by reducing out-of-stocks through optimized, on-time in-full performance.
About Frontenac
Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50+ years, Frontenac has built a franchise working with over 300 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit frontenac.com.
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SOURCE: Zipline Logistics
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