The Jordan Company, investing via the Resolute Fund II, L.P., has acquired American Fast Freight, a provider of domestic ocean freight forwarding services. Terms of the deal were not released. AFF is based in Renton, Wash.
The Resolute Fund II, L.P., an affiliate of The Jordan Company, today announced that it has acquired American Fast Freight (“AFF” or the “Company”). AFF specializes in providing less-than-container load domestic ocean freight forwarding services. Financial terms of the transaction were not disclosed.
Headquartered in Renton, Washington, AFF is a leading, asset-light logistics provider that utilizes a network of Company assets and personnel located in select strategic markets, Jones Act-compliant ocean carriers and barges and third-party agents and surface transportation companies. Employing best- in-class IT systems and custom-designed processes, AFF performs or coordinates all of the consolidation and deconsolidation activities and transportation movements it provides to customers.
“The AFF team has built a premium asset-light freight forwarding business differentiated by its scale, expertise and long-standing customer relationships. By consistently providing its customers with the value-added services they demand, AFF has earned its reputation as a leader in its marketplace,” said Brian Higgins, Principal, The Jordan Company. “We look forward to partnering with the AFF leadership team in continuing to build its business, both organically and through acquisition.”
“We are excited to be partnering with The Jordan Company,” said Stephen L. Day, President and Chief Executive Officer of American Fast Freight. “They have an impressive team which understands our unique business and shares our vision for the future of the Company.”
Mayer Brown LLP acted as legal advisor to The Jordan Company. Raymond James & Associates, Inc. acted as a financial advisor to AFF, and Perkins Coie LLP acted as its legal advisor.
Founded in 1988, AFF specializes in providing less-than-container load domestic ocean freight forwarding services. In addition to this core business, AFF provides its customers with a full suite of related services including: bypass mail and airfreight forwarding, relocation services, logistics and distribution. For additional information, please refer to the AFF website: www.americanfast.com.
About The Jordan Company
The Jordan Company, founded in 1982, is a middle-market private equity firm with over $5 billion of committed capital under management and a 30-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. The managing principals have been investing together for over 20 years. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai.