Private equity firm HIG Capital has launched a sale process for Capstone Logistics, with first-round bids expected by early May, according to sources familiar with the matter. The third-party logistics provider, which serves commercial customers including grocery, food service, retail and consumer products distributors, is being advised by JPMorgan and Harris Williams in the auction.

The company generates approximately $215 million in EBITDA, a figure that may limit interest from strategic buyers while keeping it attractive to private equity firms, sources said. Deal books were distributed to potential buyers in early April as part of the formal sale process. The logistics sector has seen increased deal activity as companies seek to capitalize on supply chain optimization and e-commerce growth.

With its specialized focus on commercial distribution customers, Capstone Logistics represents an attractive platform investment for PE firms looking to consolidate within the fragmented third-party logistics market. The timing of the sale comes as investors continue to show strong appetite for logistics assets amid ongoing supply chain challenges and the sector's demonstrated resilience during recent market volatility.