CHICAGO, IL, October 28, 2013 -- Bolder Capital LLC (“Bolder”), a co-investment partnership between JZ Capital Partners Limited (“JZCP”) and The Edgewater Funds (“Edgewater”), announced today that it has completed the acquisition of Priority Express Courier, Inc. (“Priority” or the “Company”). Priority is a provider of customer-centric express delivery and logistics solutions to the healthcare and pharmaceutical markets in the Northeastern U.S.
Based in Boothwyn, Pennsylvania, Priority provides same-day express delivery services to clinical laboratories, health systems, long-term care pharmacies and other industries requiring a high level of service. Priority serves a growing base of clients located in the greater Philadelphia and Lehigh Valley regions of Pennsylvania, New Jersey and southern New York. The Company provides both regularly scheduled logistics services as well as on-demand delivery and has built its business through strong relationships with a regional customer-base that requires a high level of quality control, service accountability and timeliness.
“We are thrilled to partner with Bolder and its team,” said Rob Johnstone, CEO of Priority. “Over the last 20 years, we have worked very hard to establish our leadership position and know that with Bolder, we will have the expertise and resources to take our business to the next level. Of all the investors we looked at, it was clear that Bolder was unique in its commitment to working with partners to create value and build enduring companies.”
Priority is the first acquisition made into a new strategic investment platform which is targeting a regional build-out in the express delivery and logistics market. The strategy is led by Operating Partner and Chairman, Bruce Parker, who has spent his career in senior management roles at leading transportation and logistics companies. Mr. Parker has previously served as an officer of Ryder System, Inc. and United Airlines, Vice President of American Airlines and Sabre Computer Systems, and Chairman and CEO of AirNet Systems, Inc.
Mr. Parker commented “We are very pleased to be acquiring and investing in a high quality company like Priority Express. The Priority team is an excellent group of professionals that I look forward to working alongside to increase the Company’s capabilities and geographic reach as we continue to deliver outstanding customer service. We are committed to bringing together best of breed companies, people and technologies to deliver customized express delivery and logistics solutions to our growing customer base."
About Bolder
Bolder Capital is a Chicago-based private investment firm focused on investing in leading privately held companies generating up to $15 million in EBITDA that have a unique market position and are led by exceptional management teams. Bolder was formed in 2004 through a co-investment relationship between Edgewater and JZCP. With over $1.5 billion in capital resources, a team of seasoned operating executives, and a highly experienced investment staff, Edgewater and JZCP have a strong track record of adding substantial value to their portfolio companies and creating wealth for shareholders. Bolder is actively seeking niche service providers in the express delivery sector that may be interested in joining the partnership alongside Priority Express and building a leading presence within the industry.
Based in Boothwyn, Pennsylvania, Priority provides same-day express delivery services to clinical laboratories, health systems, long-term care pharmacies and other industries requiring a high level of service. Priority serves a growing base of clients located in the greater Philadelphia and Lehigh Valley regions of Pennsylvania, New Jersey and southern New York. The Company provides both regularly scheduled logistics services as well as on-demand delivery and has built its business through strong relationships with a regional customer-base that requires a high level of quality control, service accountability and timeliness.
“We are thrilled to partner with Bolder and its team,” said Rob Johnstone, CEO of Priority. “Over the last 20 years, we have worked very hard to establish our leadership position and know that with Bolder, we will have the expertise and resources to take our business to the next level. Of all the investors we looked at, it was clear that Bolder was unique in its commitment to working with partners to create value and build enduring companies.”
Priority is the first acquisition made into a new strategic investment platform which is targeting a regional build-out in the express delivery and logistics market. The strategy is led by Operating Partner and Chairman, Bruce Parker, who has spent his career in senior management roles at leading transportation and logistics companies. Mr. Parker has previously served as an officer of Ryder System, Inc. and United Airlines, Vice President of American Airlines and Sabre Computer Systems, and Chairman and CEO of AirNet Systems, Inc.
Mr. Parker commented “We are very pleased to be acquiring and investing in a high quality company like Priority Express. The Priority team is an excellent group of professionals that I look forward to working alongside to increase the Company’s capabilities and geographic reach as we continue to deliver outstanding customer service. We are committed to bringing together best of breed companies, people and technologies to deliver customized express delivery and logistics solutions to our growing customer base."
About Bolder
Bolder Capital is a Chicago-based private investment firm focused on investing in leading privately held companies generating up to $15 million in EBITDA that have a unique market position and are led by exceptional management teams. Bolder was formed in 2004 through a co-investment relationship between Edgewater and JZCP. With over $1.5 billion in capital resources, a team of seasoned operating executives, and a highly experienced investment staff, Edgewater and JZCP have a strong track record of adding substantial value to their portfolio companies and creating wealth for shareholders. Bolder is actively seeking niche service providers in the express delivery sector that may be interested in joining the partnership alongside Priority Express and building a leading presence within the industry.
