In partnership with management, to accelerate growth

Cambridge Capital announces majority investment in Boa Logistics and Flow Cold Storage

Cambridge Capital, a leading investment firm focused on the supply chain sector, today announced a majority investment in Boa Logistics and Flow Cold Storage which are innovative, high-growth, third-party logistics companies specializing in refrigerated less-than-truckload ("LTL") freight consolidation, led by industry veterans. The investment, in partnership with management, will enable Boa to continue to expand its dedicated cold-chain freight consolidation platform and capitalize on its large market opportunity, building on 50% revenue growth and 130% EBITDA growth over the last 12 months.

In conjunction with the investment, Cambridge Capital's Benjamin Gordon and Matt Smalley have joined Boa's Board of Directors. Boa's founders, Matt Mugar and Walter Lopes, will continue to lead the business full-time, retain significant ownership, and serve on the Board.

Through Boa's proprietary consolidation model, enhanced by technology, small and medium-sized shippers can enjoy white-glove service, 24x7 responsiveness, operational excellence and access to a differentiated base of carriers for temperature-controlled LTL transportation needs across the United States. Given Boa's cold-chain expertise, its focus on the perishable food & beverage industry, and major consignees including Costco, Trader Joe's, Kroger and Publix, Boa's customers can have a logistics partner that is able to scale, without sacrificing quality, responsiveness or service levels. Boa has specifically unmatched capabilities for freight originating from the West Coast, which is a large, fragmented, and underserved market.

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