Two private equity investment firms have come together to acquire Anderson Cargo Services, a St. Paul, Minn.-based logistics firm.
Headhaul Capital Partners and Argosy Capital said they are buying Anderson Cargo from founders Brian and Kathy Anderson and will partner with its management to expand and grow the business.
Terms of the transaction were not disclosed.
Anderson Cargo provides a range of transportation and logistics services to customers with time-critical and specialized delivery requirements. The company offers freight brokerage, warehousing and order fulfillment activities, international freight forwarding, white-glove delivery, trade show management and expedited shipping.
DataTrec is an operating division of Anderson Cargo, for example, that provides turnkey logistics and transportation for data center relocations. Allegro Home Delivery is another business unit that provides last-mile delivery, returned goods management and assembly services.
“We have been impressed with the company’s strong dedication to providing customized and creative logistics solutions to its customers,” said Seth Wilson, managing partner at Headhaul Capital in New York. “This creativity is especially important in the industries [Anderson Cargo] serves, including health care and technology, where supply chain requirements continue to evolve rapidly.”
Anderson CEO Robert Masters said he welcomes the change in ownership.
“We’re excited to have partnered with Headhaul Capital and Argosy to acquire Anderson Cargo Services,” Masters said in a statement on Oct. 24. “The management team and I are committed to continuing the high level of service and responsiveness our customers have come to expect.”
Other current investments by Headhaul Capital include Michael Dusi Logistics in Paso Robles, Calif., Great Western Leasing and Sales in Irvine, Calif., and OL International Holdings, a freight forwarder based in New York.
Among Argosy Capital’s holdings are Panhandle Oilfield Service Cos., a company based in Oklahoma City that provides roustabout services, maintenance and equipment sales and trucking for oil and gas exploration, and Paragon Energy Solutions, a supplier of parts and components for commercial nuclear power plants in the United States.