A&R Logistics, a portfolio company of Wind Point Partners, has acquired Blue Water Plastic Transport (BWP).
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. The buy of BWP is its first add-on acquisition for A&R under Wind Point ownership.
BWP provides specialty bulk transportation and logistics services to plastics manufacturers, distributors, and recyclers. The company’s services include dry bulk transportation, storage, packaging, and delivery to many states – primarily Michigan, Illinois, and Ohio – and Canada. BWP was founded in 1988 and is headquartered north of Detroit in St. Clair, MI (www.bwpt.net).
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, KY (www.ardoingitright.com).
The acquisition of BWP expands A&R’s geographic presence in the Midwestern US and increases A&R’s overall transportation capacity with additional tractors and specialty trailers. “BWP is a great strategic acquisition for A&R as it increases both the company’s tractor fleet and its density in the Midwest,” said Konrad Salaber, a managing director with Wind Point. “We’re excited to have closed the first of what we hope is several acquisitions with Mark and the A&R team.”
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. In June 2017, Wind Point held a final closing of its eighth fund, Wind Point Partners VIII LP, with $985 million of capital commitments. The fund exceeded its initial hard cap of $750 million and is the largest fund closing in Wind Point’s history. The firm was founded in 1984 and is based in Chicago (www.wppartners.com).
Antares Capital, Bain Capital, First Eagle Investment Management, and Varagon Capital led the debt financing for the transaction.
© 2019 Private Equity Professional | July 1, 2019