STG Logistics Secures $300 Million Financing to Drive Future Growth

PR Newswire

CHICAGO, Oct. 3, 2024

CHICAGO, Oct. 3, 2024 /PRNewswire/ -- STG Logistics, a leading provider of containerized logistics services, today announced the successful completion of a $300 million debt and equity financing package. This financing, backed by STG's existing lenders and equity sponsors, will provide the company with significant capital to fuel its ongoing expansion and strategic growth initiatives.

"The strong commitment from our shareholders and financial partners not only reinforces confidence in STG's long-term strategic vision, but also strengthens our position to navigate the current freight market challenges," said Paul Svindland, Chief Executive Officer. "We are grateful for the continued support from our stakeholders and look forward to leveraging this capital to drive both organic and inorganic growth in the years ahead."

The new funding will enable STG to continue investing in innovative solutions, expand its service offerings, and enhance operational efficiency as it advances its mission of delivering best-in-class logistics services across the country.

This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy any security and does not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About STG Logistics

STG is a leading national containerized logistics services provider including asset-based intermodal transportation, marine and rail drayage, warehousing and transloading services and over the road FTL and LTL services. With over 35 years of experience in domestic logistics, STG has access to every major rail ramp and port in the country. STG is a portfolio company of Wind Point Partners, Duration Capital Partners and Oaktree Capital Management.

Media Contact: Courtney McCrimmon - cmccrimmon@gatesmanagency.com, 412-225-6899

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SOURCE STG Logistics

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October 03, 2024 18:58 ET (22:58 GMT)