Salt Lake City— Direct Connect Logistix (“DCL”), a third-party transportation and logistics services company, today announced it has acquired Draper, Utah-based Performance Logistics, LLC (“Performance Logistics”) in a transaction that positions the combined company to grow nationally.
By joining together, the two third-party logistics companies expect to be able to better serve existing customers by leveraging industry-leading technology and working with a broader range of carriers. The combined company will also benefit from an increase in scale and purchasing power. Terms of the transaction were not disclosed.
Performance Logistics is a third-party logistics company founded in 2015 by Eric Riddle, Cameron George, and AJ Baadsgaard. It specializes in temperature-controlled food and beverage transportation services.
“From the start of our discussions with Performance Logistics, we have been impressed by the company’s dedication to its customers, its growth capabilities, and its roster of blue-chip food and beverage customers,” says Richard Piontek, CEO of DCL. “This acquisition provides us with a presence in the Mountain West for the first time and strengthens our refrigerated and frozen food capabilities. We also expect it will help us expand our customer base and increase market share with existing customers.”
Performance Logistics’ existing management team will join the combined company to help lead an expansion plan for DCL’s regional operations. George will join DCL’s management team and serve as Performance Logistics Regional VP. While DCL’s headquarters will remain in Indianapolis, the combined company views its presence in Utah as a strategic location and intends to expand its workforce there.
“We are very excited to combine our efforts with Direct Connect Logisticx. I believe this combination will significantly expand our ability to serve customers across North America,” George says. “The combined scale of the two companies will enable us to deploy additional resources and technologies that will extend our reach, improve our service to our customers, carriers and result in new opportunities for people in both organizations.”
Detroit-based private equity firm, Huron Capital acquired DCL in 2018 to build the company into a premier third-party logistics company. With this acquisition, DCL is poised for continued expansion in a growing and dynamic industry.
“The combination of DCL and Performance Logistics will provide employees from both companies with more opportunities to grow and succeed in their careers,” Piontek says. “As part of this partnership, we are also putting a greater emphasis on hiring top talent in the areas we service to continue on this path of expansion.”
For more information about DCL, please visit: www.dclogistix.com.