Supply chain management company Magnate Worldwide plans to expand its services in global freight forwarding, mission-critical expedited transportation, and specialized fine arts logistics after being acquired by the private equity firm Littlejohn & Co., the firms said today.
Terms of the deal were not disclosed, but Magnate had previously been held by another investment group, the Chicago-based private equity firm CIVC Partners L.P.
Portland, Oregon-based Magnate said the company will continue to be led by the same senior management team, so the ownership transition will be seamless to employees, customers, and vendors.
Magnate holds a platform of logistics providers with specialized service levels focused on handling sensitive, time-definite, 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, offering security and supervision services for high-value, sensitive, and mission-critical supply chains; and Turtle North America, selling safe and sustainable art crates.
The company recently strengthened those core groups when it acquired the freight forwarder Hybrid International Forwarding in 2021 and folded 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 arm.
Magnate becomes the latest logistics and transportation holding for Greenwich, Connecticut-based Littlejohn, 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 builds upon Littlejohn’s deep expertise investing in the transportation and logistics sectors,” Ed Feeley, a managing director at Littlejohn, said in a release. “Global and domestic supply chains are becoming increasingly dynamic and Magnate is able to help its customers manage this increasing complexity through its combination of a broad premium logistics offering, deep customer service focus, leading information technology capabilities and talented management team.”
— PR Newswire (@PRNFreight) January 3, 2022