February 5, 2024
This February, as we join America in celebrating Black History Month, Advantage Capital would like to recognize the immense contributions and achievements that Black Americans continue to have in business across our country.
It gives us great joy and gratification to also shine a light on our portfolio companies led by Black entrepreneurs and executives who are making tremendous strides in American business. Through their creation of and commitment to good-paying jobs and wealth opportunities, and ultimately uplifting communities that traditionally lack equal access to capital and employment, these companies each demonstrate how modest investments can deliver both innovation and profound economic and social impact.
General Trucking is a premier carrier, transportation broker, and freight forwarder dedicated to meeting the diverse shipping requirements of industries and businesses. This past year, the controlling stake in General Trucking shifted to Tannis Fussell of Ascentria Capital and James Collins of Eastwood Capital, noted minority investors and entrepreneurs.
Based in Warren, Michigan, General Trucking specializes in carrying time-sensitive freight for Tier One automotive part manufacturers, including expedited loads to their final destinations point-to-point in the US, Mexico, and Canada. Even though the company has grown exponentially over the years, its humble beginning is still ingrained in the business today, and the positive impact that they have in and around Warren is pronounced.
General Trucking has a significant revenue base and approximately $10 million of operating profit. The company treats every load as if it were the company’s first one, and follows through on their commitment to delivering world-class logistics service to all customers. For that, we are incredibly proud to support them.
Headquartered in Niles, Ill., LSL Healthcare, LLC is a National Minority Supplier Development Council-certified assembler and supplier of single-use medical equipment kits.The company primarily sources components from domestic suppliers, assembles them into sterilized customizable kits, and ships them to healthcare facilities across the U.S. LSL’s key products include IV start kits, central line kits, fall risk prevention items, instrument trays, and urological supplies.
Fifth Century Partners, a fund founded by African American private equity investors acquired LSL Healthcare in 2022. We are incredibly grateful to support LSL, because they have long been standard bearers for inclusive hiring, as well as champions of performance in their industry.
LSL has been recognized as a National Minority Manufacturer of the Year, awarded by the U.S. Department of Commerce, and as a Minority Supplier of the Year Class IV (>$50M), awarded by the Chicago Minority Supplier Development Council. LSL currently employs 150 people from the local community.
In a city that has long struggled with higher unemployment rates, Goodwrx has emerged as an incredibly valuable staffing partner for matching people with viable work. The Las Vegas-based company and its platform pairs hospitality workers with employers who are looking to supplement their existing workforce.
Led by Co-Founder and CEO Nathan Armogan, Goodwrx has been a true leader in evolving the gig economy and embracing the values of labor empowerment and equity. The impact that they have in pairing workers with gainful employment opportunities simply can’t be understated. They provide a viable alternative through a labor-centric shift-based model, empowering workers to increase their income and enjoy better working conditions, while helping businesses dynamically meet their critical staffing needs.
Goodwrx should be commended for enabling employers to staff shifts that might otherwise go unfilled, and providing hospitality workers more opportunity to maximize their earnings. We are proud to be able to help support their ongoing growth and success.
Advantage Capital is proud to partner with many innovative businesses and investors and recognize that helping to grow opportunities for Black and brown entrepreneurs is something we should all be celebrating during Black History Month.
