Wind Point Buys Plantgistix

A&R Logistics, a portfolio company of Wind Point Partners, has acquired family-owned Plantgistix, a provider of packaging, warehousing, and export services to the plastic resin industry.

Wind Point acquired A&R Logistics, a provider of dry bulk logistics services to manufacturers and distributors of chemicals and plastics, from Mason Wells in May 2019.

Plantgistix’s customers include many of the world’s largest chemical producers and the company has facilities in Houston (headquarters); Baytown and Orange, Texas; and Burkville, Alabama. The company was founded in 1981 by CEO Marc Levine. Post-closing, Plantgistix’s president, Sam Diaz, and the entire Plantgistix team will join A&R.

A&R’s services include transportation, warehousing, packaging, distribution, and third-party logistics management. The company operates a national network of nearly 50 facilities, a fleet of 800 specialized tractors and 1,200 pneumatic trailers (both company-owned equipment and owner-operators), and a technology platform customized for dry bulk transportation. A&R, founded in 1969, is led by CEO Mark Holden and is headquartered in Louisville, Kentucky.

“Through his focus on delivering the industry’s highest quality service, and an emphasis on building a strong corporate culture, Marc Levine laid the foundation for a truly unique company,” said Mr. Holden. “Likewise, Sam Diaz has done a remarkable job leading the business day-to-day, positioning Plantgistix as a true leader in this space. We could not be happier to welcome the Plantgistix management team and employees to the A&R family.”

Earlier in 2019, A&R announced that it had committed more than $100 million of capital to establish facilities in Charleston, South Carolina, and Savannah, Georgia. The buy of Plantgistix complements this expansion strategy and gives the company a large and growing footprint near the Port of Houston.

“Aggressively expanding A&R’s presence in the chemicals export market was a key value creation initiative identified at the time of our investment, and this acquisition advances A&R’s position as one of the largest, most flexible supply chain partners for the world’s leading chemical companies,” said Konrad Salaber, a managing director at Wind Point.

The buy of Plantgistix is the second add-on acquisition completed by A&R under Wind Point ownership and follows the June 2019 buy of Blue Water Plastic Transport, a St. Clair, Michigan-based provider of transportation and logistics services to the plastics industry.

A&R’s add-on acquisition strategy focuses on acquiring companies that provide dry bulk transportation, warehousing and logistics services to producers and distributors of chemicals and plastics. Additionally, A&R is also interested in expanding into complementary services, including liquid chemical supply chain services.

Chicago-based Wind Point invests from $50 million to $100 million in companies with EBITDAs of at least $10 million. Industries of interest include business services, consumer products and industrial products. Wind Point is currently investing out of Wind Point Partners IX LP which began fundraising in 2019.

Houston-headquartered Statesman Corporate Finance was the financial advisor to Plantgistix.

© 2019 Private Equity Professional | November 19, 2019

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