Magnate Capital Partners and CIVC Partners have formed Magnate Worldwide, a holding company that will make acquisitions in the transportation and logistics sector. No financial terms were disclosed. MCP’s Dan Para and Mike Welch will serve as CEO and president, respectively.
PRESS RELEASE
OAK BROOK, IL (PRWEB) January 05, 2015
Magnate Capital Partners (“MCP”) and CIVC Partners L.P. (“CIVC”) are pleased to announce the formation of Magnate Worldwide (“MWW”). The new entity has been established as a holding company to pursue acquisitions in the transportation and logistics industry. Both CIVC and the partners of MCP will contribute the capital necessary to build a premier asset-light transportation and logistics company focused on the international freight forwarding and North American expedited transportation markets.
In addition to providing capital support, three partners of MCP will be joining MWW in senior management positions. Dan Para and Mike Welch, who have each built successful logistics and transportation companies, will be the Chief Executive Officer and President, respectively. Frank Shinnick will be Chief Financial Officer.
“As we enter the next phase of our careers, we knew that forming an allegiance with the right financial partner would be crucial to our continued success. We believe that CIVC’s investment experience and cultural compatibility made them the ideal financial partner for us,” stated Dan Para and Mike Welch. CIVC has been targeting the transportation and logistics sector for investment for several years. The firm has spent a considerable amount of time studying the industry and developing a deep network of industry contacts. “We feel that the opportunity to partner with the senior management team of Magnate provides a rare and exciting opportunity to build a leading platform in the sector,” said John Compall, a Partner at CIVC.
With this announcement, Magnate will be actively reaching out to business owners in the freight forwarding and North American expedited transportation markets to become part of the MWW platform. The MWW executives and CIVC are excited to create a market-leading company that will provide clients with a comprehensive suite of solutions and unmatched customer service.
If you have an interest in better understanding MWW’s acquisition criteria and business plan, please visit http://www.magnateworldwide.com or contact Dan Para (dpara(at)magnateworldwide(dot)com) or Mike Welch (mwelch(at)magnateworldwide(dot)com).
About Magnate Worldwide
MWW is focused on asset-light premium logistics. We will provide experienced and skilled operational and customer-focused talent. Our attention will focus on the best in class companies that operate in the international freight forwarding and North American expedited transportation markets. Together with a strong capital position and seasoned management team, we will build MWW into a leading premium transportation and logistics provider. More information can be found at http://www.magnateworldwide.com.
About CIVC Partners, L.P.
CIVC is a Chicago-based private equity firm with over 25 years of experience investing in middle market companies with high growth potential. CIVC has invested over $1.4 billion in 56 platform companies and dozens of add-on acquisitions since 1989. More information on CIVC Partners can be found at http://www.civc.com.
About Magnate Capital Partners
Magnate Capital Partners is a Chicago-based investment firm. “We collaborate with the leaders in whom we invest to help set the pace of their business and their success,” says Dan Para, CEO, Managing Member, and founder. Magnate prides itself on the track records of its leadership and its adherence to the highest professional and ethical standards. Magnate focuses on the optimal path to creating value within the context of a partner business’s goals. For more information, visit http://www.MagnateCP.com
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.