Relativity Capital has agreed to acquire certain waste transportation logistics assets of MHF Logistical Solutions Inc. No financial terms were disclosed. MHF is a portfolio company of Allied Capital.
Penguin Logistics LLC dba MHF Services (MHF), a newly formed portfolio company of Relativity Capital L.P. (Relativity), announced today that an agreement was reached on June 19, 2009 to purchase certain assets of MHF Logistical Solutions, Inc.
Leslie Armitage, Senior Managing Partner for Relativity, said, “We are very pleased to have completed this investment. MHF has a very bright future and we are committed to the success of the business.”Relativity appointed Bob Shawver as the President and CEO of MHF. For over 20 years Shawver has served in an executive capacity in environmental, energy, and transportation related businesses and has extensive operational and financial experience.
Shawver said, “I am very excited about this opportunity. I believe our people, assets, and high-quality customer base will position us well to deliver the finest transportation and logistics services in the industry. The company has the core competencies to safely handle the most difficult transportation and packaging challenges in the radioactive, hazardous, and non-hazardous markets.”
Scott Dempsey, the Director of Business Development, said, “The combination of our well-established core competencies, a dedicated equity partner, and favorable marketplace trends are all very positive. With these we intend to focus on providing the highest quality service to our customer base.”
About MHF Services
MHF (www.mhfls.com) is an asset based, vertically integrated logistics provider that offers seamless solutions for generators and shippers of radioactive, hazardous, and non-hazardous waste, materials, and byproducts. The company’s customers include government agencies, such as the U.S. Army Corps of Engineers, the U.S. Department of Defense, the U.S. Department of Energy, and others. MHF also provides transportation and logistics solutions to companies in the nuclear utilities, environmental services, mining, metals, chemical, and petrochemical industries.
MHF is based in Cranberry Township, a suburb of Pittsburgh, PA, with other offices in the U.S. The company’s headquarters may be reached at 724-772-9800 or firstname.lastname@example.org.
Relativity provides private equity capital to companies throughout all stages of the business cycle. They target quality investments in both healthy and distressed middle-market companies, predominately located in North America. Relativity is supported by a Strategic Advisory Board comprised of individuals with significant management and operational experience.