Harkness Capital Partners sells Kane Logistics to ID Logistics

New York, NY, April 14, 2022 – Harkness Capital Partners closed the sale of Kane Logistics to ID Logistics, of Paris France.  Kane is a third-party logistics company (3PL) that provides value-added warehousing and distribution services. The Company was a portfolio company and the first platform investment by Harkness Capital in Harkness Capital Partners I (HCP I).

Based in Scranton, PA, Kane provides 3PLservices, including value-added warehousing and distribution, e-fulfillment, contract packaging, cross-docking and transportation management.  Kane was founded in 1930 and was 100% family owned prior to the Harkness investment in 2019.  Kane serves customers in food and beverage, consumer products, health and beauty and light industrial end-markets. Following ID’s acquisition, the Kane business will serve as a platform and the Kane team will help to lead ID Logistics operations in the U.S. Stan Schrader, former Chief Commercial Officer at Kane has become the CEO of ID Logistics in the U.S.

Since acquiring Kane in March 2019, the Harkness team, led by Tony Tegnelia, worked with management to accelerate growth and improve operating efficiency by adding new talent, building new service lines, and growing the Company’s customer base. The goal was to build Kane from a small regional 3PL into a national mid-market company serving a broad spectrum of companies. An important focus was to deepen the management team, especially in sales, operations, and engineering, following the Harkness core tenets of developing people, processes, practices in each portfolio company. Since 2018, Kane was able to more than double revenues and triple EBITDA, all organically, as it transitioned from a regional to a national 3PL.”

“The Kane team performed brilliantly and built the business throughout a difficult operating environment. Stan Schrader and Tony Tegnelia, Board Chairman and Harkness operating partner provided great leadership throughout our investment period. Each brought a long history of operating and building third-party logistics companies to help guide the Company’s growth,” said Harkness Partner and Board member, Ted Dardani.

“It was a strong partnership between the Kane and Harkness teams that resulted in the building of a fast- growing, middle-market logistics company with strong service delivery at its core,” said Tony Tegnelia. “The success rests with helping to build a superb team of operators and their commitment to delivering superior service. In addition, we benefited from and enjoyed the partnership and guidance of Dick Kane, ex-CEO of Kane and Board member.”

Kane Logistics was the first platform investment in Harkness Capital Partners I. The approach and investment thesis with Kane was to build a leading middle-market 3PL with sufficient scale and expertise to serve large and small customers, and to offer a more diversified array of services. Consistent with the Harkness approach, the growth plan at Kane was supported by decades of experience in operating and investing in logistics and distribution businesses. These resources were part of an active partnership with management as the Company executed on its growth plan.

Harris Williams & Co. advised Harkness on the transaction, and Gibson, Dunn & Crutcher provided legal counsel on the deal.



Harkness Capital Partners is a U.S. based private equity investment firm focused on investments in service-oriented companies. Harkness is dedicated to ‘transformational’ investing and building long-term value in its portfolio companies. The Harkness team works in partnership with talented business owners and managers seeking to grow their companies by investing capital and committing operating resources to support rapid and profitable growth.

The Harkness Capital team consists of investment professionals and former operating executives with diverse backgrounds as business founders, builders and leaders in services businesses. Harkness Capital focuses on investments across a variety of segments within business and outsourced services, and where the team has deep experience and expertise. Harkness seeks platform companies between $5-25 million of EBITDA.

Target Segments within Business Services:

  • Logistics/ Distribution
  • Environment/ Health/ Safety (EH&S)
  • Specialty rental/ Infra-structure
  • Test / Inspection / Certification / Compliance (TICC)
  • Other niche/specialty outsourced services, including healthcare services

For more information, please visit https://www.harknesscapital.com