Magnate Worldwide, a portfolio company of CIVC Partners and Magnate Capital Partners, has acquired Masterpiece International.
Masterpiece International provides customs brokerage and international logistics services through 15 offices located in major international shipping hubs throughout the US. Masterpiece was founded in 1989 and has developed a leading market position in fine arts logistics, serving museums, art galleries, art fairs and private collectors. The company also has a separate general freight division which offers a variety of services including reconciliation, customs brokerage, as well as cargo and freight logistics for vehicles, boats, textiles, crude oil, tradeshows, and perishables.
Masterpiece International is headquartered in New York (www.masterpieceintl.com) with additional facilities in Boston; Newport; JFK Airport; Philadelphia; Washington, DC; Atlanta; Miami; Chicago; Dallas; Houston; Seattle; San Francisco; Los Angeles; Gulf Port, MS; and West Palm Beach.
Magnate Worldwide was formed in December 2014 by CIVC and Magnate Capital Partners to build an asset-light transportation and logistics company focused on the North American premium transportation and international freight forwarding markets. Today, as a result of numerous acquisitions, Magnate Worldwide operates through four subsidiaries: (1) TrumpCard (acquired in August 2015) provides specialized logistics services, including deferred and time-definite airfreight, next day air, and other domestic and international expedited services; (2) Premium Transportation Logistics (acquired in March 2017) provides expedited domestic ground and freight brokerage services for customers with time-critical logistics needs; (3) MWW Logistics provides expedited cross-border services into and out of Mexico; and (4) Somerset Marine Lines (acquired in October 2015) provides international air and ocean freight forwarding services. The company is headquartered in the Chicago suburb of Oakbrook (www.magnateworldwide.com) (www.trumpcardinc.com) (www.ptlllc.com) (www.somersetmarine.com).
“Masterpiece expands Magnate Worldwide’s international freight forwarding network and complements our existing suite of high-value logistics services. We are now better positioned than ever to meet the full range of our customers’ door-to-door international and domestic logistics needs,” said Thomas Gilgen, President of Magnate Worldwide’s international division.
The entire Masterpiece team – including co-founders David Epstein and David Cohen and President of Fine Arts John O’Halloran – will remain in place following the transaction and will continue with the company post-closing. “We are thrilled to be joining Magnate Worldwide,” said Mr. Epstein. “Magnate’s focus on best-in-class service ensures that we will continue to exceed customer expectations, and its broad logistics offering will allow us to provide an even more comprehensive range of solutions to our valued customers.”
CIVC invests from $15 million to $85 million in middle market companies that have at least $5 million of EBITDA. Sectors of interest include business services and financial services. CIVC currently manages over $1.5 billion in capital and is investing out of CIVC Partners Fund V. The firm is based in Chicago (www.civc.com).
Magnate Capital Partners is led by its CEO and Founder Daniel Para and is based in Oakbrook Terrace, IL (www.magnatecp.com).
Magnate Worldwide continues to seek additional add-on acquisitions of companies that operate in the North American premium transportation and international freight forwarding markets. Contact either Daniel Para (dpara@magnateworldwide.com) or Mike Welch (mwelch@magnateworldwide.com).
© 2017 Private Equity Professional | April 26, 2017
