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Wellspring Capital Management & Ascend Transport Group Acquire Milan Supply Chain Solutions

Washington, D.C., September 2019 — HCI Equity Partners is pleased to announce it successfully completed the sale of Milan Supply Chain Solutions to Wellspring Capital Management, in partnership with Ascend Transport Group, on September 30, 2019.

Headquartered in Milan, Tennessee, Milan is a leading supply chain logistics provider, specializing in dedicated contract transportation and value-added distribution services. The Company’s truckload service offering consists of short- and medium-haul runs (approximately 500 miles per trip) and dedicated shuttle runs, which average 100 miles per trip. Milan also provides a rapidly growing freight brokerage service to serve customers nationwide. The Company’s full-service distribution and warehousing division provides space and logistics services to its customers as needed, focusing on inventory turn in its locations in Milan and Jackson, TN. Milan’s management team has driven sustainable organic growth through their continued focus on numerous key performance indicators and a best-in-class driver retention program.