KCM Capital acquires ICAT Logistics

KCM Capital has has acquired Elkridge, Maryland-based ICAT Logistics Inc, a provider of transportation and logistics solutions.

KCM Capital has has acquired Elkridge, Maryland-based ICAT Logistics Inc, a provider of transportation and logistics solutions. No financial terms were disclosed.

PRESS RELEASE

Chicago, IL – December 17, 2021 – Chicago-based private investment firm KCM Capital Partners LLC (“KCM”), an investor in lower middle-market business services, value-added distribution and specialty industrial companies, announced today that it has completed the acquisition of ICAT Logistics, Inc. (“ICAT” or the “Company”) headquartered in Elkridge, Maryland. The transaction was completed in partnership with the Company’s Founder and CEO, Rick Campbell, alongside Chicago-based investment firms Lightspring Capital Partners (“Lightspring”) and Midwest Mezzanine Funds (“Midwest Mezzanine”). Terms of the transaction were not disclosed.

Founded in 1993, ICAT Logistics is a leading agency-based global freight forwarder providing comprehensive transportation and logistics solutions, including the import and export of domestic and international freight by air, ocean or truck, along with customs and compliance management, customs brokerage and other specialty services. The Company’s tagline – “One Call, Right Solution…Done!” – represents the value-added services that ICAT provides to ensure the successful intermodal shipment of goods for more than 1,000 customers each year. Today, ICAT employs over 40 team members and counts 19 valued agency partners in its network.

Company management, led by Founder and CEO Rick Campbell, built ICAT and its agency system over the last 30 years before deciding to partner with KCM to position the Company for enhanced growth. Consistent with KCM’s investment philosophy – Keeping Continuity Matters – ICAT will remain under the guidance of the current leadership team, who remain actively invested in the business and will continue to oversee day-to-day operations.

Regarding the transaction, Mr. Campbell noted, “We are excited to partner with KCM. They share our core values and vision for accelerating the growth of the business, while maintaining the strong relationships we have with our employees, customers, agency partners and transportation vendors. Since starting the Company, our philosophy has been one of teamwork and transparency, and KCM’s approach is rooted in these same principles. I’m confident they can provide the financial and strategic resources to accomplish our future growth objectives.”

Emmett Mosley, Partner at KCM said, “Rick has built an extremely strong and value-added business model at ICAT, with a differentiated network of agency partners who, alongside the Company’s operations from Baltimore, provide best-in-class customer service and superior freight forwarding solutions on a global basis. Particularly in today’s environment where supply chains face meaningful constraints and headwinds, ICAT has consistently distinguished itself as a creative, reliable and trustworthy partner to its customer base, enabling the successful and expedient shipment of valuable cargo around the world. We look forward to building on ICAT’s strong foundation by providing the resources to accelerate market growth through expansion of the Company’s agency network and strategic acquisitions.”

Derek Ferguson, Partner at KCM, added “We are thrilled to welcome Rick and the ICAT team into the KCM family and appreciate the capital support provided by our partners Lightspring and Midwest Mezzanine in this important transaction. We look forward to executing our strategy together with them and Company management.”

Live Oak Bank provided senior debt financing in support of the transaction, while Katten Muchin Rosenman LLP served as legal counsel to KCM. Matrix Capital Markets Group, Inc. served as exclusive financial advisor to ICAT.

About ICAT Logistics:
Founded in 1993 and headquartered in Elkridge, MD, ICAT is a leading agency-based global freight forwarder providing comprehensive transportation and logistics solutions, including the import and export of domestic and international freight by air, ocean or truck, along with customs and compliance management, customs brokerage and other specialty services. The Company’s tagline – “One Call, Right Solution…Done!” – represents the value-added services that ICAT provides to ensure the successful intermodal shipment of goods for more than 1,000 customers each year. For more information, please visit www.icatlogistics.com.