Red Arts Capital completes acquisition of US' Flex Logistics

Flex’s deep warehouse management experience across multiple industries provides its customers with more time to focus on their core strategies by making their West Coast warehousing and distribution requirements easier and more cost-effective by utilising its 3PL warehouse services. This well-facilitated organisation will continue to serve as a valuable addition to Red Arts Capital’s portfolio of companies. The 3PL market in the US is estimated at $238 billion in the year 2022, which currently accounts for a 24.7 per cent share of the global market, Red Arts said in a press release.

The transaction marks another successful investment for the firm's inaugural institutional commingled private equity fund vehicle, Red Arts Capital Opportunity Fund I, L.P. In August, the firm announced the acquisition of Partners Warehouse, a leading third-party logistics provider with warehousing, value-added services, and transportation offerings.

“Having an established, successful company like Flex Logistics join the greater Red Arts team is incredibly exciting. Geographically, Southern California plays a massive role in the North American supply chain system and being able to work with Flex on solving some of the recent issues we’ve seen in that region is a great opportunity for us,” Nick Antoine, co-founder, co-CEO and managing partner of Red Arts Capital, said.

“We are excited to be partnering with Red Arts Capital and to be joining the Partners Warehouse team. Flex Logistics has always been customer-focused, and it was important to find partners that aligned with our values. We look forward to working with them as we continue to grow our business,” Carl DeTorres, CEO of Flex Logistics, said.

Fibre2Fashion News Desk (GK)