Chicago-based private equity firm Wind Point Partners has acquired Louisville, Ky.-based A&R Logistics, the companies said today.
A&R Logistics provides dry bulk logistics solutions for the chemical and plastic industries, including transportation, warehousing, packaging, and outsourced logistics management. The firm has 50 facilities nationwide, operates a fleet of specialized tractors and pneumatic trailers, and also offers a technology suite customized for dry bulk transportation, the companies said.
Wind Point said it will partner with A&R's management team to grow the business organically and through acquisition.
The expansion plan includes opening new facilities totaling at least two million square feet in the Ports of Charleston and Savannah to support the packaging and export of resins such as polyethylene, polyvinyl chloride, and polypropylene, among others, the company said. The firm's acquisition strategy will focus on adding companies that provide dry bulk transportation and warehousing services to producers and distributors of chemicals and plastics, as well as those that provide complementary offerings, such as liquid chemical supply chain services, the company said.
A&R's management team, including President and CEO Mark Holden, will remain with the company and retain an ownership stake in the business, Wind Point said. Holden is a veteran executive in the logistics space, having previously led four separate investments to a successful sale or initial public offering (IPO), the company also said. Prior to his post at A&R, Holden was president and CEO of Prime Distribution Services, a non-asset based provider of logistics and freight consolidation services.
Wind Point specializes in transportation, logistics and route-based businesses, with prior investments including Dicom Transportation, St. George Logistics, Valicor Environmental Services, RailWorks, and AIR-serv, the company said.
"We are excited to have Wind Point as our partner for a number of reasons, key among them a deep knowledge of the logistics space and a reputation for strong collaboration with the management teams they sponsor," Holden said in a statement announcing the acquisition.