Halifax Partners has recapitalised Golden State Overnight, an overnight delivery service that operates in the Western US.
Halifax tapped Union Bank to provide debt financing for the transaction, a spokesperson told Private Debt Investor. Halifax and company management provided equity financing. The firm declined to provide financial details of the recapitalisation.
“[Golden State] has built a leading overnight delivery enterprise in California and throughout the Western US,” said managing director Brent Williams in a statement. “We look forward to assisting GSO’s stellar management team and employees as they develop new growth opportunities in the fast-growing regional logistics industry.”
Halifax specialises in recapitalisations of mid-market and lower mid-market companies in the US. The firm manages approximately $1 billion, according to its website.