The specialized logistics company Magnate Worldwide acquired by a private equity buyer
Supply chain management company Magnate Worldwide plans to expand services in global freight transportation, essential expedited transportation and specialized fine arts logistics after being acquired by private equity firm Littlejohn & Co., the companies said today.
Terms of the deal were not disclosed, but Magnate was previously owned by another investment group, Chicago-based private equity firm CIVC Partners LP.
Magnate, based in Portland, Ore., Said the company will continue to be led by the same management team, so the ownership transition will be smooth for employees, customers and suppliers.
Magnate owns a platform of logistics providers with specialized service levels focused on handling sensitive, time-bound and high-value shipments. Its business segments include: TrumpCard, specializing in the healthcare, aerospace, entertainment and electronics industries; Masterpiece, providing customs brokerage and international logistics services; Masterpiece Security Group, providing security and oversight services for high value, sensitive and critical supply chains; and Turtle North America, which sells safe and durable art cases.
The company recently strengthened these core groups when it acquired freight forwarder Hybrid International Forwarding in 2021 and integrated it into the Masterpiece unit. Also in 2021, Magnate purchased ASAP Expediting & Logistics LLC and G&H Transport LLC and added them to its Trump Card branch.
Magnate becomes the last logistics and transport holding company for Littlejohn, based in Greenwich, Connecticut, which also owns Alliance Ground International, Direct ChassisLink Inc., Kenan Advantage Group Inc., Keystone Automotive Operations, Inc., Newgistics, Newcold Advanced Cold Logistics and Soundview Maritime LLC.
“Magnate Worldwide draws on Littlejohn’s deep investment expertise in the transportation and logistics industries,” said Ed Feeley, managing director of Littlejohn, in a statement. âGlobal and national supply chains are becoming increasingly dynamic and Magnate is able to help its customers manage this growing complexity through its combination of a broad, high-end logistics offering, in-depth customer service. , advanced information technology capabilities and a talented management team. ”
– PR Newswire (@PRNFreight) January 3, 2022