CHICAGO, July 21, 2022 (GLOBE NEWSWIRE) -- Granite Creek Capital Partners, L.L.C. (“Granite Creek”), a private investment firm based in Chicago, announced today that it has exited its equity and subordinated debt positions in Sunset Pacific Transportation (“Sunset Pacific”), a leading logistics provider based in Chino, California. Red Arts Capital Partners (“Red Arts”) and Prudential Private Capital acquired Granite Creek’s significant minority stake in Sunset Pacific, and repaid its subordinated debt holdings as part of a recapitalization of the business.
In September 2019, Granite Creek partnered with Red Arts to acquire Sunset Pacific Transportation. Since that time, Sunset Pacific has successfully executed various organic growth initiatives and completed the acquisition of Radius Logistics, a Surrey, BC-based third-party logistics company. Granite Creek’s investment in Sunset Pacific Transportation was made from its $200 million fund, Granite Creek FlexCap II, L.P. (“FlexCap II”).
“Granite Creek is proud to have supported Sunset Pacific’s exceptional growth over the last few years,” said Brian Boorstein, Co-founder and Partner at Granite Creek. “Sunset Pacific has demonstrated the value of its differentiated business model – derived and perfected by its first-class management team – which has enabled us to realize a substantial gain on our investment as well as put it in a strong position for the future.”
Josh Craig, Chief Executive Officer of Sunset Pacific Transportation said, “Granite Creek’s operational and strategic support has played an invaluable role in helping successfully navigate both a pandemic and a volatile freight market. I have truly appreciated their input and partnership along the way.”
About Sunset Pacific Transportation
Sunset Pacific Transportation is a leading national provider of Volume Less Than Truckload (“Volume LTL”) and other complementary shipment services. The Company’s advanced freight consolidation and routing capabilities allow it to offer a unique solution that serves the niche between traditional LTL and Truckload. Sunset Pacific provides a critical link in its customers’ supply chains and is relied upon by thousands of third-party logistics companies and direct shippers.
About Granite Creek Capital Partners, L.L.C.
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. In addition to providing funding to lower middle market companies, in 2011 Granite Creek co-founded Renovo Financial, one of the largest private lenders serving real estate entrepreneurs. Granite Creek was named to Inc.’s 2021 Private Equity 50 list. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.
For more media information, contact:
Lisa Hendrickson
LCH Communications for Granite Creek
516-643-1642
lisa@lchcommunications.com
