Magnate Capital, CIVC Partners join on transportation

The two Chicago-based firms are joining forces to buy transportation and logistics companies

Chicago-based Magnate Capital Partners and CIVC Partners have formed Magnate Worldwide. The jointly backed holding company will pursue acquisitions in the transportation and logistics industry.

Both Magnate Capital and CIVC will provide capital with the goal of creating an asset-light transportation and logistics company focused on international freight forwarding and North American expedited transportation.

In addition to providing capital, three partners from Magnate Capital will form the senior management team of Magnate Worldwide. Dan Para and Mike Welch will serve as CEO and president, respectively. Frank Shinnick will be CFO.

CIVC will primarily provide financing support to the venture. The firm currently manages over $1.3 billion, according to Private Equity International’s research and analytics division.

CIVC closed its fourth buyout fund in 2011 on $375 million, and most recently acquired KPA Services, a provider of environmental, health and safety services to truck and equipment dealerships. CIVC focuses on middle market investments in business and financial services of typically $15-85 million.