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Investment History

Montebello Capital / Aero Logistics

In May 2003, the Montebello Capital search fund acquired Aero Logistics, a South San Francisco, CA provider of freight transportation and logistics services. Founded in 1998, Aero served customers in the technology and retail sectors, providing best-of-breed service and reliability for their freight transportation needs.

Deal Background

Aero Logistics was founded and operated by a husband and wife team that had grown it into a profitable niche business with loyal customers and strong repeat business. After considering bids from a number of strategic and financial buyers, they chose Montebello because of competitive deal terms and Montebello's dedication to taking care of employees and other stakeholders under the new ownership.

The Montebello principals presented a straightforward deal structure and closed the transaction quickly and smoothly, paying a majority of the deal value in cash at the time of the close.  A carefully managed transition allowed the founders to step out of the business less than a year after the acquisition, and a small seller note was repaid ahead of schedule. Importantly, success and cooperation during the transition period allowed the founders to depart with the knowledge that their employees and customers were in good hands going forward.

Post-acquisition, Montebello continued to invest in the company and expanded into new service areas, enabling sustained growth in headcount, revenues, and bottom line profit.

Recent Activity

Montebello Holdings maintains equity investments in a number of private companies. In addition to managing these investments, from 2009 to 2014 Fowler and Greenberg founded and ran HealthCPA, a healthcare services company that helps people navigate their health insurance and medical expenses, increasing patient satisfaction and improving revenue cycle performance.  In December 2014 HealthCPA was purchased by Adreima, a Waud Capital portfolio company and leader in revenue cycle management.


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