Palladium Equity Partners Acquires Source Logistics

New York, NY and City of Industry, CA, November 2, 2023 – Palladium Equity Partners, LLC (along with its affiliates, “Palladium”), today announced that affiliates of the firm have acquired a majority stake in Source Logistics, a provider of value-added warehousing, distribution and fulfillment third-party logistics (3PL) services to the consumer goods sector with a focus on Hispanic food and beverage brands, investing alongside the company’s founders who will continue to lead the business.

Source Logistics serves its customers from 12 strategically-located facilities, representing more than 2.3 million square feet, across four states – California, Texas, New Jersey and Oregon. The company was founded in 1999 by Marcelo Sada, the company’s Chief Executive Officer, and Raul Villarreal, its Chief Operating Officer.

Chris Allen of Palladium Equity Partners, said, “Led by a strong and experienced management team, and supporting a range of customers, especially top Mexican and U.S. Hispanic food and beverage brands, Source Logistics is poised for further exceptional growth as it continues to focus on service excellence. We believe that the company is positioned to benefit from positive industry tailwinds, including the anticipated growth of the U.S. Hispanic population, which is projected to expand from 62 million people in 2020 to 75 million in 2030.”

Marcelo Sada, Chief Executive Officer of Source Logistics, said, “Palladium is an ideal partner for Source Logistics as we continue to serve and seek to provide value to our customers and evaluate opportunities to add new, scaled capabilities and locations through add-on M&A opportunities. The Palladium team has demonstrated a deep understanding of our business, our customer universe, and the range of factors driving our sector today and the future and we look forward to working closely with them.”

Raul Villarreal, Chief Operating Officer of Source Logistics, said, “The new partnership with Palladium serves as an excellent opportunity not only to consider the path ahead, but to reflect on the amazing contributions of our customers and colleagues to Source Logistics’ growth to date. We are excited to further differentiate our offering and exceed our customers’ expectations as we move forward.”

Daniel Ilundain, Co-Head of Palladium’s Flagship Funds said, “Our Firm has invested over $1.3 billion in the U.S. Hispanic market across consumer, healthcare, services and industrial sectors. Source Logistics represents Palladium’s 20th platform investment addressing this rapidly growing demographic that accounts for $3.2 trillion in GDP. Source Logistics continues a long line of Palladium investments in the Hispanic food and beverage value chain including: Castro Cheese, Del Real Foods, Teasdale, Quirch Foods and Wise Foods.”

Republic Partners and Foley & Lardner served as financial advisor and legal advisor, respectively, to Source Logistics. William Blair and Morrison & Foerster served as financial and legal advisor, respectively, to Palladium. Terms of the investment were not disclosed.


About Source Logistics

Source Logistics is a technology and customer-oriented company established in 1999 to provide tailored logistics and supply chain solutions. Through the years, the company has expanded its footprint and offerings to include omni-channel distribution, warehousing, value-added services and transportation. Today, Source Logistics serves a wide range of industries, including food and beverage, health and beauty, consumer retail, medical, manufacturing and technology. Additional information may be found at


About Palladium Equity Partners, LLC

Since its founding in 1997, Palladium has invested in more than 210 companies (40 platforms and more than 170 add-ons). With over $3 billion in AUM, the firm focuses primarily on buyout equity investments in the range of $50 million to $150 million.  Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital and strategic guidance.  The partners of the firm have meaningful experience in consumer, services, industrials, and healthcare businesses, with a focus on companies they believe will benefit from the growth in the U.S. Hispanic population. For more information, visit


Media Contacts for Palladium Equity Partners:

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