H.I.G to acquire Ascent Global Logistics
Investment firm H.I.G. Capital has signed an agreement to acquire Ascent Global Logistics from affiliates controlled by Elliott Investment Management.
Ascent’s management team will remain shareholders while Elliott has also agreed to retain a minority stake.
Rob Jang, H.I.G.: “Ascent is the preeminent provider of time-critical logistics services and is uniquely positioned to meet the increasing complexity within global supply chains.”
Cody Kittle, Elliott Management: “The investment by H.I.G. is a recognition of Ascent’s accomplishments and its significant market opportunity.”
Headquartered in Belleville, Michigan, Ascent provides solutions to customers’ complex, time-critical logistics requirements with on-time delivery levels.
Ascent is into the on-demand ground and air expedited logistics solutions, truck brokerage, freight forwarding, and other value-added transportation services.
Through its proprietary, digital PEAK marketplace, the company connects its blue-chip customer base to a robust network of partner carriers.
Its customer base includes multinational leaders in mobility, manufacturing, aerospace, technology, consumer, and healthcare markets.
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