July 8, 2021
STG Logistics, Inc (“STG”), a portfolio company of Wind Point Partners (“Wind Point”), today announced the acquisition of the New Jersey Container Freight Station division of Arrowpac International, Inc (“API” or the “Company”), a leading provider of ocean import container freight station (“CFS”) services in the New York and New Jersey region. API will retain ownership of its NVOCC and related distribution and transportation businesses post-close. Arrowpac’s CFS leadership, including Dennis Murphy and Robert Polanco, will join the STG team and serve in critical roles in STG’s New York/New Jersey CFS operations post-closing.
STG is a market-leading asset-light provider of ocean and air CFS, contract logistics, and highly complementary customized transportation services. The business has scaled meaningfully through a dedicated strategic acquisition program focused on acquiring leading logistics services companies including St. George Logistics, AZ CFS, Extra Express, Channel Distribution, Neutralogistics, Freight Force, Summit NW and Veeco. STG operates the largest network of independent CFS facilities in North America, handling ocean and air cargo in close proximity to all major ports and metropolitan areas.
“The acquisition of API’s CFS division further expands our capacity and presence in the critical ocean freight corridor of New York and New Jersey,” commented Paul Svindland, CEO of STG.
Konrad Salaber, Managing Director at Wind Point, commented, “Growth via acquisition remains a prominent component of our strategy for expanding STG’s scope and scale. API’s CFS division is an important addition to the STG platform as we continue to strengthen STG’s position as the largest network of U.S. customs bonded warehouses in North America.”
“We have admired API’s CFS business and their team for some time,” commented Geoff Anderman, President and CFO of STG. “We are excited to welcome them to the STG family and look forward to continuing to support API’s customers with CFS services going forward.”
API’s CFS division represents the ninth acquisition for STG since partnering with Wind Point in 2016. STG’s acquisition strategy will continue to focus on acquiring leading freight solution providers with complementary footprints and services.
Wind Point is an active investor in transportation, logistics and route-based businesses, with select prior investments including Dicom Transportation, A&R Logistics, American Trailer Rental Group, Valicor Environmental Services and AIR-serv.