Charter Brokerage is a non-asset based third party logistics provider to the petroleum and petrochemical industries. Charter’s services include customs and export brokerage and compliance services, duty drawback consulting and processing, and administration of foreign-trade zone status jet fuel. The company was founded in 1994 and is based in Norwalk, CT (www.charterbrokerage.net).
“During our term of ownership we entered new markets and expanded into further service lines through organic initiatives and acquisitions. Charter is a great fit with Berkshire Hathaway and we wish them further success,” said Jeffrey Kovach, co-founder and Partner of Arsenal.
Arsenal Capital Partners invests in middle-market specialty industrial and healthcare companies that have $50 million to $250 million in enterprise value. Industries of specific interest include specialty & fine chemicals; segments of healthcare; transportation and logistics; power generation; aerospace & defense; and process industry components and services. Arsenal has $1.7 billion of committed capital under management. The firm was founded in 2000 and has offices in New York and Shanghai (www.arsenalcapital.com).
Berkshire Hathaway and its subsidiaries engage in diverse business activities including property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. The company is headquartered in Omaha (www.berkshirehathaway.com).
Morgan Stanley & Co. served as financial advisor to Charter Brokerage.
2014 PEPD • Private Equity’s Leading News Magazine • 12-15-14