M&A Deal Summary

American Industrial Partners Acquires Rand Logistics

On November 21, 2017, private equity firm American Industrial Partners acquired transportation company Rand Logistics

Acquisition Highlights
  • This is American Industrial Partners’ 1st transaction in the Transportation sector.
  • This is American Industrial Partners’ 29th transaction in the United States.
  • This is American Industrial Partners’ 1st transaction in New Jersey.

M&A Deal Summary
Date 2017-11-21
Target Rand Logistics
Sector Transportation
Buyer(s) American Industrial Partners
Deal Type Special Situations/Distressed
Advisor(s) Miller Buckfire & Co., LLC (Financial)
Akin Gump Strauss Hauer & Feld (Legal)

Target

Rand Logistics

Jersey City, New Jersey, United States
Rand Logistics is a provider of bulk freight shipping services throughout the Great Lakes region. Through its subsidiaries, the Company operates a fleet of three conventional bulk carriers and twelve self-unloading bulk carriers including three tug/barge units. The Company is the only carrier able to offer significant domestic port-to-port services in both Canada and the U.S. on the Great Lakes.

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Buyer(S) 1

Buyer

American Industrial Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

American Industrial Partners is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, the Firm seeks businesses with at least $500 million of revenue and the Firm will consider transactions valued up to $2 billion. Operating characteristics of prospective businesses include historical record of strong free cash flows, opportunities to drive value through operating enhancements, and sustainable competitive advantages. American Industrial Partners will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.

DEAL STATS #
Overall 33 of 53
Sector (Transportation) 1 of 2
Type (Special Situations/Distressed) 2 of 3
State (New Jersey) 1 of 1
Country (United States) 29 of 46
Year (2017) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-30 Brock

Houston, Texas, United States

Brock is a provider of industrial maintenance and capital project solutions (scaffolding, coatings, insulation, fabrications, painting, and various other soft crafts) that support the continuous and reliable operation and expansion of critical energy infrastructure and industrial processing facilities. For nearly 70 years, Brock has been a preferred service provider to many of the largest and most demanding refining, petrochemical, power generation, and industrial processing companies in North America.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-26 Presstek

Hudson, New Hampshire, United States

Presstek, Inc. is a provider of digital offset printing products and solutions to the printing and communications industries.

Sell -
Mergr

Product

Company

Legal