Red Arts Capital has acquired Phoenix, Arizona-based Central Arizona Freight, a provider of specialty transportation services. No financial terms were disclosed. Scudder Law Firm, Scopelitis, Garvin, Light, Hanson & Feary, PC and Riley Safer Holmes & Cancila LLP provided legal advice to Red Arts Capital on the deal while PNC Business Credit led the debt financing.
CHICAGO, IL—February 22, 2018—Red Arts Capital, a leading Chicago-based private equity firm, announced today its acquisition of Central Arizona Freight (“CAZF” – www.cazfrt.com), a Phoenix, AZ-based premier provider of specialty transportation services including Less-Than Truckload delivery, Pool Distribution and Truckload Brokerage. Central Arizona Freight was acquired as part of Red Arts Capital’s platform, Brown Transfer Co., a Nebraska-based transportation provider.
“We are pleased to announce the sale of Central Arizona Freight to Brown Transfer Company and Red Arts Capital. The Brown and Red Arts teams share the same values that CAZF represents and are committed to offering quality service throughout the United States,” said Chuck Riser, Founder of Central Arizona Freight.
“With the addition of CAZF, the Brown Transfer platform now provides one of the largest regional networks of premium LTL service in the Midwest. We are excited to offer even better service to customers,” said Nick Antoine, Partner at Red Arts Capital. “Moreover, the acquisition of CAZF is an ideal fit for Red Arts’ strategy of investing in family-owned logistics businesses with high quality teams and a durable competitive advantage in its market.”
Scudder Law Firm, Scopelitis, Garvin, Light, Hanson & Feary, PC and Riley Safer Holmes & Cancila, LLP served as legal advisors for Red Arts Capital. PNC Business Credit led the debt financing for the transaction.
About Brown Transfer Co.
Brown Transfer Company is a Less-Than-Truckload (“LTL”) transportation provider headquartered in Kearney, Nebraska. The company, which has been family-owned and operated since 1925, has 9 locations across Colorado, Nebraska and Missouri and is a leading LTL carrier for rural areas in the Great Plains region of the Midwest.
About Red Arts Capital
Based in Chicago, Red Arts Capital is a leading investment firm focused on North American-based transportation, logistics and related industries. Our objective is to invest in privately owned, primarily family-owned and multi-generational businesses with solid business fundamentals and a strong track record and reputation.