CHARLOTTESVILLE, Va., Nov. 6, 2023
/PRNewswire/ -- Quad-C Management, Inc. ("Quad-C"), a leading
middle market private equity firm, today announced it has closed
the sale of its investment in MNX Global Logistics ("MNX" or the
"Company"), a U.S.-based global time critical logistics provider,
to UPS (NYSE: UPS).
MNX specializes in time-critical life sciences, medical device
and healthcare shipments, as well as mission-critical parts for
grounded aircraft and just-in-time industrial and automotive supply
chains, and has a network of forward stocking locations to ensure
rapid delivery of customer inventory.
"We have greatly valued our partnership with Quad-C, who have
supported our growth ambitions, both organically and through
strategic investments," said John
Labrie, MNX's CEO. "Quad-C is an experienced investor
in the transportation and logistics space, and helped us make good,
quick decisions to help grow our business."
"Quad-C's investment in MNX is an excellent example of our deep
history partnering with market leaders within the transportation
and logistics sector," said Tom
Hickey, a Quad-C Partner. "We are proud to have
supported the MNX team as they grew the business through the
introduction of new business lines, the automation of key business
processes and the acquisition of a stake in a U.K.-based
time-critical logistics provider. We look forward to their
continued success in their partnership with UPS."
"Thanks to John Labrie and the
rest of the team at MNX," said Michael
Brooks, a Quad-C Partner. "The MNX team worked hard to
build a high-quality company and enable a successful transaction
for all parties."
Quad-C has been a long-time investor in well-established
middle-market transportation and logistics companies. In
addition to MNX, past investments include AIT Worldwide, an
international non-asset-based freight forwarder, Worldwide Express,
a technology enabled asset-light logistics provider, and A. Stucki
Company, a supplier of new and reconditioned railcar
components.
Jefferies LLC served as exclusive financial advisor to MNX and
White & Case LLP acted as legal counsel to MNX. The
transaction terms were not disclosed.
ABOUT MNX
MNX is a global time-critical transportation
and logistics provider focused on ensuring the complex and
mission-critical needs of their customers are met by offering a
suite of services, including next flight out and expedited ground
services. Learn more about MNX at www.mnx.com.
ABOUT QUAD-C
Founded in 1989 and headquartered in
Charlottesville, Virginia, Quad-C
is a middle market private equity firm focused on investing in
established specialty distribution, industrials, transportation /
logistics, business and consumer services, healthcare, food &
beverage, and consumer products companies. In its three-decade
history, Quad-C has invested $4.4
billion of capital in 83 platform companies. The Quad-C team
is committed to partnering with entrepreneurs and management teams
to accelerate growth and create long-term value. Learn more about
Quad-C at www.quadcmanagement.com.
MEDIA CONTACT
Tom Hickey
Partner
434-979-2070
info@qc-inc.com
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SOURCE Quad-C Management, Inc.
