Report: Illinois transportation company backed by Texas private equity shuts down
A logistics and transportation company that was recapitalized in 2017 by a Texas-based private equity firm, has ceased operations, according to reports in a trade publication.
Dillon Logistics Inc. of Burr Ridge, Illinois, a family-owned provider of dry and liquid bulk transportation services to the agriculture, building products, industrial and energy industries, shut down midnight Tuesday, according to a report in FreightWaves. The company was founded in 1980, according to a news release from Cotton Creek Capital, the private equity firm that recapitalize4d Dillon in January 2017.
Based in Austin, Cotton Creek Capital is an operationally focused private equity firm that focuses on investing in and growing lower middle market companies in manufacturing, infrastructure services, specialty chemical, building products, food and beverage and business services sectors. The firm targets businesses with EBITDA between $5 million and $15 million, investing in situations ranging from buyouts, recapitalizations, buy-and-builds to corporate divestitures.
Other companies in Cotton Creek Capital’s portfolio include Graco Supply of Fort Worth and Coal City Cob Company in Waxahachie. Cotton Creek has an office in Fort Worth.