Norwest Equity Partners (NEP) announced the closing of an add-on acquisition for one of its platform portfolio companies, Jacobson Companies Inc, a third-party logistics provider based in Des Moines IA. Jacobson has acquired Southwest Storage & Distribution LLP (SSDC), a Phoenix AZ-based outsourced warehouse and transportation provider. The transaction was financed by senior debt provided by Madison Capital.
SSDC began operations in 1985, and its facility contains 154,000 square feet of freezer, cooler, and dry storage space that occupies about four acres. Besides SSDC's trucking operations that comprise nearly 50 leased tractors and trailers, it also has direct rail access to the Phoenix switching area served by the Union Pacific Railroad.