Magnate Worldwide, a joint venture between CIVC Partners LP and Magnate Capital Partners, has acquired New York-based Masterpiece International, a fine art and exhibit shipping firm. No financial terms were disclosed.
OAKBROOK TERRACE, IL–(Marketwired – April 24, 2017) – Magnate Worldwide (“MWW”), a partnership between CIVC Partners, L.P. (“CIVC”) and Magnate Capital Partners (“MCP”), is pleased to announce the acquisition of Masterpiece International (“Masterpiece” or the “Company”).
Masterpiece, headquartered in New York, provides customs brokerage and international logistics services through 15 offices located in major international shipping hubs throughout the U.S. Masterpiece was founded in 1989 and over the last 25+ years has developed a leading market position in fine arts logistics, serving museums, art galleries, art fairs and private collectors. Masterpiece has leveraged its unique expertise with highly complex air, ocean, and ground shipments to develop a full-suite of international logistics services for a broad range of industries, providing each customer with the same level of service that it continues to provide to its fine arts customers. The entire Masterpiece team, including co-founders David Epstein and David Cohen and President of Fine Arts John O’Halloran, will remain in place following the transaction and will continue to provide unmatched service levels to its existing client base.
“We are thrilled to be joining Magnate Worldwide,” said Epstein. “Magnate’s focus on best-in-class service ensures that we will continue to exceed customer expectations, and its broad logistics offering will allow us to provide an even more comprehensive range of solutions to our valued customers.”
Thomas Gilgen, President of MWW’s international division, noted that “Masterpiece expands MWW’s international freight forwarding network and complements MWW’s existing suite of high-value logistics services. We are now better positioned than ever to meet the full range of our customers’ door-to-door international and domestic logistics needs.”
MWW’s objective is to build through select acquisitions a diversified asset-light logistics company that offers a single source for time-critical and service-sensitive solutions through its domestic and international transportation network. Magnate currently operates through four subsidiaries: (1) TrumpCard, which provides a full suite of specialized logistics services, including deferred and time-definite airfreight, next day air, and other domestic and international expedited services, (2) Premium Transportation Logistics, which provides expedited domestic ground and freight brokerage services for customers with time-critical logistics needs, (3) MWW Logistics, which provides expedited cross-border services into and out of Mexico, and (4) Somerset Marine Lines, which provides international air and ocean freight forwarding services.
MWW continues to look for best-in-class companies that operate in the North American premium transportation and international freight forwarding markets. For more information on MWW’s acquisition criteria, please visit www.magnateworldwide.com or email Dan Para (email@example.com) or Mike Welch (firstname.lastname@example.org).
About Magnate Worldwide
MWW is a shipping and logistics company focused on asset-light premium logistics that serves its clients by providing experienced and skilled operational and customer focused talent. MWW seeks to partner with best-in-class companies that operate in the international freight forwarding and North American premium transportation markets. With a strong capital position and seasoned management team, MWW is building a leading premium transportation and logistics provider. Find out more at www.magnateworldwide.com.
About CIVC Partners, L.P.
CIVC Partners is a Chicago-based private equity firm established in 1970 that provides growth and buyout capital to middle-market companies and executives with a focus on the business services and financial services sectors. The current management team, which has worked together since 1989, has invested over $1.5 billion in 60 platform investments and currently invests from CIVC Partners Fund V. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.