Newport Beach-based private equity firm Solis Capital Partners LLC sold its majority interest in Tigers Ltd., a Hong Kong-based transportation and logistics company, to GeoPost SA in France, one of Europe’s largest express parcel carriers, with $5.32 billion in revenue last year.
GeoPost now owns 63.75% of Tigers, which resulted from a 2011 merger between Solis portfolio company Kamino Logistics Group Ltd. and Hong Kong-based transportation company WLG Inc.
Solis recently closed its second fund at $61 million in capital commitments. The firm also has effectively cashed out of its first fund, which invested in five portfolio companies, including Kamino and Certi-Fresh Foods Inc. in Wilmington.
Solis typically invests between $2 million and $25 million in companies that have revenues ranging from $15 million to $100 million.
—Jane Yu
