Charlotte private equity group Ridgemont Equity Partners said this week it has acquired Unishippers, a shipping and logistics company based in Salt Lake City.
Terms of the deal were not disclosed.
Unishippers partners with carriers including UPS and Estes to provide shipping services to 50,000 small and medium-sized businesses across the U.S. The company said in a statement that the deal with Ridgemont will enable it further to expand its geographic footprint.
“Logistics has been a core focus area for Ridgemont over the past several years and we’re very pleased to partner with the management team of Unishippers,” said Rob Edwards, a Ridgemont partner.
Ridgemont spun off from Bank of America in 2010 amid post-financial crisis regulations that threatened banks’ relationships with private equity firms. The Ridgemont team has been together since 1993 and since then has invested approximately $3.5 billion in 119 companies.
The firm focuses on deals between $25 million and $75 million in several industries including basic industries and services, energy, health care, and telecommunications, media and technology.
Other recent Ridgemont deals include the December purchase of Wisconsin-based Allied 100, which provides services and products to the automated external defibrillator (AED) marketplace, and the acquisition last September of the Boardman Group, a Winston-Salem based distributor of metal and wood doors, door frames and related products.