Mid-market private equity firm Rotunda Capital Partners announced its exit from Worldwide Express today. According to the company's press release, a group of investors will be picking up the stake from Rotunda Capital Partners, which also included a significant investment from Rotunda's management team. No financial data were released by both companies.
According to Rotunda Capital's managing partner John Fruehwirth, "(Rotunda Capital Partners) developed a strategic partnership with the Worldwide Express management team and are proud to be involved in building the company into one of the leading third party logistics providers serving the small and medium sized business market."
"We are pleased to provide our investors with a strong return on invested capital," added Fruehwirth.
Rotunda Capital made an investment in Worldwide Express in 2009 after DHL, the company's main shipping partner, became inactive in the United States market.
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