Mike Welch and his team at Magnate Worldwide, with key offices in Benton Harbor, are continuing to do what Welch has successfully done time after time — build a transportation logistics empire, and with their new headquarters facility now operating from the historic Saranac Building along Main Street in Benton Harbor, hiring is now underway.
Magnate Worldwide (“MWW”), is a partnership between CIVC Partners, (“CIVC”) and Magnate Capital Partners (“MCP”) and Welch who just rolled out the acquisition of Premium Transportation Logistics (“PTL”) late last month has announced another major acquisition, all of which will help Magnate Worldwide grow exponentially, producing the potential for even more top dollar jobs on Main Street in Benton Harbor, where developer Peter Colovos has crafted a first-class facility in the Saranac Building.
The latest acquisition deal closed on Friday is that of Masterpiece International.
Masterpiece, headquartered in New York, provides customs brokerage and international logistics services through 15 offices located in major international shipping hubs throughout the U.S. The company was founded in 1989 and over the last 25+ years has developed a leading market position in fine arts logistics, serving museums, art galleries, art fairs and private collectors.
Masterpiece has leveraged its unique expertise with highly complex air, ocean, and ground shipments to develop a full-suite of international logistics services for a broad range of industries, providing each customer with the same level of service that it continues to provide to its fine arts customers. 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 to provide unmatched service levels to its existing client base.
Co-founder Epstein says, “We are thrilled to be joining Magnate Worldwide.” He adds, “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.”
Thomas Gilgen, who serves as President of MWW’s international division, notes, “Masterpiece expands MWW’s international freight forwarding network and complements MWW’s 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.”
Welch tells me that MWW’s objective is to build, through select acquisitions, a diversified asset-light logistics company that offers a single source for time-critical and service-sensitive solutions through its domestic and international transportation network. The company currently operates through several subsidiaries:
- TrumpCard, which provides a full suite of specialized logistics services, including deferred and time-definite airfreight, next day air, and other domestic and international expedited services
- MWW Logistics, which provides expedited cross-border services into and out of Mexico
- Somerset Marine Lines, which provides international air and ocean freight forwarding services.
- Newly acquired PTL which has been headquartered in Toledo, Ohio, provides expedited domestic ground and freight brokerage services for customers with time-critical logistics needs.
PTL offers door-to-door solutions to customers in the auto, white goods, building products, and industrial machinery industries, among others.
Welch says that PTL enhances Magnate Worldwide’s North American capabilities and broadens its geographic footprint in the Midwest. Welch, who is President of MWW, says, “PTL’s expedited ground services further expand MWW’s high-value logistics offering, and the company’s reputation for impeccable service is a great fit with our customer-focused approach.” Mr. Welch will work closely with PTL to continue to expand MWW’s North American division both organically and through select strategic acquisitions.
MWW continues to look for best-in-class companies that operate in the North American premium transportation and international freight forwarding markets. For more information on their acquisition criteria, you can visit www.magnateworldwide.com or email Dan Para (dpara@magnateworldwide.com) or Mike Welch (mwelch@magnateworldwide.com).
MWW is a shipping and logistics company focused on asset-light premium logistics that serves its clients by providing experienced and skilled operational and customer focused talent. MWW seeks to partner with best-in-class companies that operate in the international freight forwarding and North American premium transportation markets. With a strong capital position and seasoned management team, MWW is building a leading premium transportation and logistics provider. Find out more at www.magnateworldwide.com.
CIVC Partners is a Chicago-based private equity firm established in 1970 that provides growth and buyout capital to middle-market companies and executives with a focus on the business services and financial services sectors. The current management team, which has worked together since 1989, has invested $1.5 billion in 60 platform investments and currently invests from CIVC Partners Fund V. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.
Shown in the photo accompanying this story on Moody on the Market are (left to right) Kyle Plummer, Director of Cross Border Solutions, Keith Avery, Operations Manager, and Mike Welch, President at their Saranac Building headquarters in Benton Harbor.
