Platinum Equity Acquires Toronto Customs Brokerage Firm
Investment firm Platinum Equity said it has agreed to acquire Livingston International, a Toronto-based firm that specializes in customs brokerage, freight forwarding and trade consulting.
Platinum Equity to Acquire Customs Brokerage and Trade Services Firm Livingston International https://t.co/PW6hEmoKXs pic.twitter.com/1MWisKXueW — Platinum Equity (@PlatinumEquity) February 21, 2019
Financial terms were not disclosed.
Livingston has a unique business model and offered a compelling value proposition in the transportation and logistics sector, said Platinum Equity Principal Jason Price.
“The company is run by a strong leadership team and we believe it can benefit from our financial resources and operational expertise,” Price said.
Livingston has worked with businesses engaged in cross-border and global trade for more than 70 years, according to Platinum. Established in 1945 by Gerry Livingston as an export packaging firm, Livingston evolved into a customs brokerage. The company expanded beyond Canada and the United States to include Mexico, Europe and Asia, Platinum said.
Platinum Equity said it has about $13 billion of assets under management and a portfolio of 40 operating companies. — Transport Topics
