The California third party logistics provider (3PL) RK Logistics Group said today it has been acquired by a private equity firm which says hot growth in the e-commerce sector makes 3PLs “highly attractive” to investors.
Terms of the deal were not disclosed, but RK’s founder, chairman, and namesake, Rod Kalune, has now retired. The firm’s new owner, Miami-based AOI Capital, says it will retain the remainder of the current RK Logistics management team.
According to the firm, Kalune started the company over 35 years ago with a handful of employees, one warehouse, and several trucks. The company has since grown steadily, and Fremont, California-based RK today provides warehousing, e-commerce fulfillment, and supply chain management services. It operates facilities in Newark, Fremont, and Hayward, California, spanning some one million square feet of warehousing and distribution capacity and employing over 300 associates and managers.
In a statement, AOI Capital said the RK Logistics acquisition marks an expansion of its participation in third-party logistics services, a move that was driven by surging demand for quality warehousing, distribution, and supply chain management capabilities, particularly among Silicon Valley manufacturing, industrial, retail, and e-commerce fulfillment businesses.