Long Point Capital News

Long Point Capital Announces an Investment in St. George Warehouse and the Appointment of a New CEO

Long Point Capital is pleased to announce that it has partnered with management to invest equity and mezzanine capital in St. George Warehouse ("St. George"), the leading independent provider of container freight station ("CFS") services for ocean cargo imported into the United States. Based in South Kearny, New Jersey, St. George operates from ten facilities strategically located in close proximity to the nation's largest ports and metropolitan areas. The company's CFS business is complemented with warehousing and distribution services as well as air CFS and expedited air freight services.

Long Point Capital is also pleased to announce the hiring of Denis E. Reilly as the company's President & Chief Executive Officer. Denis possesses over 30 years of experience in the logistics industry, including senior level positions as CEO of USA Dry Van Logistics, President of North American Transportation of OHL, and Senior Vice President of Meridian IQ, a subsidiary of Yellow Roadway Corporation.

Denis commented on his appointment: "I am very excited to be joining St. George. I was attracted to St. George because of its stellar reputation in the industry, the great operations and management team, and the recent investment by experienced equity partners. St. George's commitment to providing world class customer service combined with its industry leading technology are both competitive advantages I believe we can lever to significantly grow the company."

Long Point Capital partnered with New Orleans-based LongueVue Capital and Connecticut-based Ironwood Capital to acquire a controlling interest in St. George and provide capital for future growth. Ira Starr, Managing Director at Long Point Capital said, "We have known the St. George management team for many years and we have watched them build the Company into the leading independent provider of CFS services. We believe that Denis is the ideal executive to build upon the Company's strong foundation and lead its growth going forward."

"The capital and expertise our new partners bring to bear for St. George will be instrumental in our company's next phase of growth," said St. George founder, Anthony Fortunato, who remains a shareholder and board member of the company. "Their industry experience and successful track record in the lower middle market make them ideal partners for St. George. I am also thrilled to welcome Denis to our team. His skill set and experience are highly complementary to our culture and operations."

If you have questions about this transaction, please contact Ira Starr istarr@longpointcapital.com or Bruce Smith bsmith@longpointcapital.com.