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Aurora Capital Partners Completes Recapitalization of PSC Group With TJC

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LOS ANGELES, April 4, 2024-- Aurora Capital Partners ("Aurora"), a middle-market private equity firm, today announced the closing of the recapitalization of PSC Group ("PSC" or the "Company"), a leading embedded logistics service provider offering rail, truck, and marine logistics, railcar repair, and sustainability services to critical petrochemical infrastructure across North America, with TJC, LP ("TJC"), formerly known as The Jordan Company, a middle-market private equity firm investing primarily in North America. Aurora has reinvested from Aurora Equity Partners V alongside TJC as part of the transaction. Financial terms were not disclosed.

Since partnering with Aurora in 2019, PSC has continued to grow its on-site logistics capabilities across North America. Additionally, the Company has expanded deeper into customer offerings such as railcar repair, railcar storage and sustainability services, and has established itself as the safest and most experienced operator for its blue-chip customer base. PSC also opened its Advanced Recycling Facility in Baytown, Texas in 2022, and has grown to include more than 4,500 employees serving at more than 150 sites across the U.S. and Canada.

"From the onset of our investment in PSC, Joel Dickerson and the rest of the PSC team have been exceptional partners in helping execute Aurora's Strategy & Operations Program to expand the Company's geographic footprint and portfolio of industry-leading service offerings across North America," said Matthew Laycock, Partner at Aurora. "We are extremely proud of the transformational growth PSC has realized over the past five years, which has enabled the Company to further evolve into a full-solution outsourced logistics partner for the essential, growing petrochemical market. We are thrilled to have the opportunity to continue partnering with PSC alongside Joel and the TJC team on the many organic and inorganic opportunities we see across the business."

"When we partnered with Aurora, not only were we aware of their reputation and track record of success working closely with companies like PSC to accelerate their growth trajectory, but we felt a true alignment with our culture and servant leadership approach as well," said Joel Dickerson, President and CEO of PSC. "Aurora has been very active and highly supportive in executing on what has been an exciting period of growth at PSC, and we are grateful for their strategic insights and guidance, which has enabled us to significantly expand our offerings and better serve our long-tenured customers. We are excited to remain aligned with Aurora as we partner with TJC to continue to expand and grow as leaders in our industries."

"We are sincerely thankful that Joel and his team selected Aurora to be their partners. When we initially met Joel in 2019, we believed that PSC was a great business with an exceptional customer-focused, collaborative, and mission-driven culture. The management team proved this repeatedly by smoothly maneuvering through macroeconomic volatility such as COVID-19 shocks, inflationary pressure, and supply chain disruptions. The PSC team's stable execution during turbulent times created the opportunity for us to successfully implement our buy and build strategy and further scale the platform while others paused expansion initiatives. We are confident that Joel and the PSC team have strengthened their foundation even further and have a long runway of growth ahead," said Andrew Wilson, Partner at Aurora.

Harris Williams served as lead financial advisor, DC Advisory, Piper Sandler & Co., and Wells Fargo Securities, LLC served as co-financial advisors, and Gibson, Dunn & Crutcher LLP served as legal advisor to Aurora and the Company.

About Aurora Capital Partners

Aurora Capital Partners is a leading Los Angeles-based private equity firm with $5 billion in assets under management. Founded in 1991, the firm invests in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. For more information about Aurora Capital Partners, visit: www.auroracap.com.

About PSC Group

For 72 years, PSC has been committed to safely and efficiently meeting the logistics needs of leading companies in the petrochemical industry. The company's 4,500+ employees serve at more than 150 sites across the U.S. and Canada, providing expertise in product logistics, railcar switching and repair, packaging and warehousing, tank farm operations, mobile railcar repair, industrial cleaning and tankerman services. PSC also offers an array of sustainability services to support plastics producers with Operation Clean Sweep compliance and recycling initiatives. Finally, PSC owns and operates the Bayport Rail Terminal, a 115-acre rail, truck and container terminal that provides railcar storage and switching, transloading, cleaning and repair services to the chemical industry on the Bayport Loop and the Port of Houston. For more information about PSC, visit: www.pscgroup.com.

About TJC

TJC LP, formerly known as The Jordan Company, has worked for more than 40 years with CEOs, founders and entrepreneurs across a range of industries including Consumer & Healthcare, Diversified Industrials, Industrial Technology, Logistics & Supply Chain and Technology & Infrastructure. With $30.1 billion of assets under management as of December 31, 2023, TJC is managed by a senior leadership team that has invested together for over 22 years on over 80 investments. TJC has offices in New York, Chicago, Miami and Stamford. For more information, please visit www.tjclp.com.

Contact:
Media Contacts
Aurora Capital Partners
Taylor Ingraham
ASC Advisors
Phone: 203-992-1230
Email: tingraham@ascadvisors.com

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