The Riverside Company has acquired Logical Freight Solutions as an add-on for portfolio company MNX Global Logistics. No financial terms were disclosed. Based in Melbourne, Australia, LFS is a provider of logistics for the healthcare, life sciences and biotech sectors.
The Riverside Company has completed the add-on of Logical Freight Solutions P/L (LFS) to its MNX Global Logistics (MNX) platform. Based in Melbourne, Australia, LFS specializes in logistics for the healthcare, life sciences and biotech markets.
LFS complements MNX’s growing international capabilities and proven ability to reliably deliver time- and temperature-sensitive shipments—a key consideration for the industries LFS and MNX serve. MNX offers a global footprint that will be particularly enhanced in the Asia-Pacific region with the addition of LFS.
“Logical Freight Solutions has the expertise and capabilities that demanding healthcare customers require,” said Riverside Partner Peter Tsang. “It opens new customers for MNX and allows LFS to reach new geographies and to leverage MNX’s class-leading technology.”
MNX CEO Paul J. Martins said MNX is continuing to grow globally and the addition of LFS is a particularly exciting opportunity given the strong cultural fit between the companies.
“The pace of growth in patient-centric medicine, with its strict requirements for temperature-controlled transportation and time-definite delivery, underscores the role that specialty time-critical logistics providers will continue to play in the life sciences and healthcare industries,” said Martins. “LFS shares our customer-centric culture and geographic footprint. This combination allows our new and existing customers to experience an expanded suite of logistics services tailored specifically for the healthcare, life sciences, and medical device industries around the world.”
LFS is the second add-on completed during Riverside’s investment hold of MNX. It joins the 2016 add-on of Aero Express Logistics. Riverside plans to continue growing MNX through a combination of organic initiatives and strategic acquisitions.
Working with Tsang on the deal for Riverside were Operating Partner Steve Stubitz, Vice President Drew Flanigan and Senior Associate Fei Ren. Partner Anne Hayes helped secure the financing for the transaction.
About The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring and investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 490 transactions. The firm’s international portfolio includes more than 80 companies.