MNX Global Logistics, a company that arranges for expedited delivery of pharmaceuticals and other high-value goods, has a new owner.
Boston-based Audax Private Equity announced July 10 the acquisition of MNX from The Riverside Co. Terms were not disclosed.
Based in Long Beach, Calif., MNX serves clients in the biopharmaceutical, life sciences, medical device, aviation and entertainment industries and operates in more than 190 countries. Services include hand-carries and next-flight-out transportation, inventory management, order fulfillment and supply chain management.
“MNX has earned an outstanding reputation in the time-critical logistics market by consistently delivering dependable, customized solutions to its health care and aviation customers,” Audax co-CEO Geoffrey Rehnert said. “We look forward to working with Paul Martins and the MNX team to continue building a leading platform through organic growth and add-on acquisitions.”
Riverside has owned MNX (formerly Midnite Air Corp.) since 2013. MNX purchased Logical Freight Solutions of Melbourne, Australia, in 2017 and in June opened a logistics facility next to JFK International Airport in New York City to handle biopharmaceutical, radiopharmaceutical and medical device shipments.
“We are excited to partner with Audax for the next stage of our growth,” Martins, CEO of MNX, said in a statement. “Audax brings expertise and resources that will help us continue to build our market leadership position by expanding our service offering and value proposition to our clients through strategic acquisitions and growth initiatives.”