Purchased by a private equity firm just two months ago, the dry bulk transportation and logistics service provider (LSP) A&R Logistics Holdings Inc. has acquired Blue Water Plastic Transport LLC (BWP), a specialty bulk transportation and LSP serving the plastics industry.
Terms of the deal were not disclosed. But in a statement on its website, A&R's corporate parent, the Chicago-based private equity investment firm Wind Point Partners, said it was already planning additional purchases. "A&R is seeking acquisitions of transportation and warehousing service providers," Wind Point said.
Louisville, Ky.-based A&R said buying BWP will increase its asset fleet and expand its presence in the Midwestern U.S., increasing its overall transportation capacity with additional tractors and specialty trailers.
BWP, which is based in St. Clair, Mich., services Michigan, Illinois, and Ohio, providing specialty dry bulk transportation, warehousing, and logistics services primarily related to plastic resin across a customer base which includes plastics manufacturers, distributors, and recyclers.
The acquisition also shows off A&R's deep pockets. Wind Point says it has a history of supporting its portfolio companies with additional capital for growth, and plans to apply that same strategy to help A&R diversify its service offering and geographic presence to better serve its customers. "BWP is a great strategic acquisition for A&R as it increases both the company's tractor fleet and its density in the Midwest," Konrad Salaber, Managing Director with Wind Point Partners, said in a release. "We're excited to have closed the first of what we hope is several acquisitions with [A&R CEO Mark Holden] and the A&R team."
Wind Point acquired A&R in May, working in partnership with Holden, who is a 25-year veteran of the transportation and logistics industry. In a statement, Wind Point said it will seek to continue expanding the A&R platform through a combination of organic growth and complementary acquisitions like BWP.
The holding company has experience in logistics and route-based transportation services with prior acquisitions including: Valicor Environmental Services in 2017, St. George Logistics in 2016, Dicom Transportation in 2014, RailWorks in 2007, and AIR-serv in 2003.