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October 27, 2016
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Somerset Marine Lines Creates New Job Opportunities in Cranford, NJ
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CRANFORD, N.J., Oct. 27, 2016 /PRNewswire/ -- New job opportunities have arrived in Cranford. International shipping company Somerset Marine Lines (SML), has moved its office to the New Jersey town, which is a strategic hub for logistics companies given its proximity to Newark Liberty International Airport and both the New Jersey Ports. Founded in 2000, SML was acquired last year by Magnate Worldwide, a premium asset-light transportation and logistics provider. Since the acquisition, SML has doubled its revenue and profits, creating an opportunity to expand its team.
"Our new location will have access to a larger talent pool, and allow SML to further achieve its growth strategy," said Thomas Gilgen, president of Magnate Worldwide's International Division. In addition to its proximity to important ports, which grants the SML team easy access to shipments coming through customs, the location of the new, modern office is directly off the parkway. This creates an attractive commute for the sales and customer care representatives that SML plans to hire.
Somerset Marine Lines (SML) has moved into a new office space in Cranford, NJ, where it plans to grow its sales and customer service teams.
SML attributes its recent growth to shrewd decisions to expand its sales force and implement Cargowise One, a supply chain software that has created efficiencies in the customer service process. With the new office location, SML is poised for continued success.
"I anticipate that in the next six to twelve months, we'll see significant growth," said Gilgen.
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November 2, 2015
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Magnate Worldwide Completes the Acquisition of Somerset Marine Lines
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Magnate Worldwide (“MWW”), a partnership between CIVC Partners, L.P. (“CIVC”) and Magnate Capital Partners (“MCP”), is pleased to announce the acquisition of a majority stake in Somerset Marine Lines (“Somerset” or the “Company”). As part of the transaction, Somerset’s founding shareholder will continue to be involved in the business going forward and maintain an ownership stake.
MWW was formed in late 2014 by CIVC and MCP to build a premier asset-light transportation and logistics company focused on the North American premium transportation and international freight forwarding markets. MWW’s objective is to build through select acquisitions a diversified logistics company that offers a single source for time-critical and service-sensitive solutions through its dual-division, asset-light transportation network. MWW currently operates through its subsidiary, TrumpCard, a provider of premium logistics services specializing in the transportation of high-value and time-sensitive shipments across the healthcare, aerospace, entertainment, and electronics industries, among others.
Headquartered in Hillsborough, NJ, Somerset provides domestic and international freight forwarding services through a global network of offices and third-party agents. The Company is a fully licensed non-vessel operating common carrier (NVOCC) and provides inbound and outbound ocean and air freight forwarding services to a diverse base of customers. Somerset also offers customers customs clearance, warehousing, and domestic expedite services.
Somerset enhances MWW’s international capabilities and broadens its geographic footprint. Dan Para, CEO of MWW, said that “Somerset is a best-in-class provider and adds highly complementary international services to our existing service offering. We are now even better positioned to meet our customers’ domestic and international logistics needs.” Thomas Gilgen, MWW’s President of International, will work closely with Somerset and will continue to expand MWW’s international division through organic and strategic acquisition opportunities. Additionally, as part of the transaction, the Somerset management team will remain in place and continue to manage current customer relationships as well as drive growth with new customers.
MWW continues to look for best-in-class companies that operate in the international freight forwarding and North American premium transportation markets. For more information on MWW’s acquisition criteria, please visit www.magnateworldwide.com or email Dan Para (dpara@magnateworldwide.com) or Mike Welch (mwelch@magnateworldwide.com).
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August 28, 2015
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Magnate Worldwide Completes the Acquisition of TrumpCard
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OAK BROOK, Ill. – Magnate Worldwide (“MWW”), a partnership between CIVC Partners, L.P. (“CIVC”) and Magnate Capital Partners (“MCP”), is pleased to announce the acquisition of a majority stake in TrumpCard, Inc. (“TrumpCard” or the “Company”). As part of the transaction, the founding shareholders will continue to be involved in the business going forward and maintain a significant ownership stake.
TrumpCard is a provider of premium logistics services specializing in the transportation of high-value and time-sensitive shipments across the healthcare, aerospace, entertainment, and electronics industries, among others. The Company provides a full suite of specialized logistics services, including deferred and time-definite airfreight, next day air, and other domestic and international expedited services, as well as an array of customized white-glove services. TrumpCard consistently delivers exceptionally high levels of service and superior on-time delivery rates to customers across the country through a centralized, best-in-class operations center located at the Company’s headquarters in Carlsbad, CA. For additional information about TrumpCard, visit www.trumpcardinc.com.
“We are extremely excited to join the Magnate platform,” said TrumpCard’s CEO Marco Hanlon. “The senior management team at MWW has a long, successful history of creating world-class logistics companies that will be invaluable to TrumpCard as we accelerate growth and continue to provide best-in-class service to our customers. We are also thrilled to work with CIVC going forward given their impressive track-record and believe that they are uniquely well-suited to support our growth objectives.”
TrumpCard is the first investment made by MWW, which was formed in late 2014 by CIVC and MCP to build a premier asset-light transportation and logistics company focused on the North American premium transportation and international freight forwarding markets. Three partners at MCP hold senior management positions at MWW. Dan Para and Mike Welch, who have each previously built successful logistics and transportation companies, are the Chief Executive Officer and President, respectively. Frank Shinnick is the Chief Financial Officer.
“TrumpCard is dedicated to the premium logistics niche and is committed to delivering superior service to clients,” stated Mike Welch, President of MWW. “We feel that TrumpCard is the ideal cornerstone for MWW as we execute on our strategy to build a leading, multi-disciplined, asset-light transportation and logistics company.”
John Compall, a partner at CIVC, noted that “TrumpCard has built a highly differentiated platform in the fragmented logistics industry and we are thrilled to partner with the management team to capitalize on the large market opportunity through both organic and acquisition-based growth strategies.”
The acquisition of TrumpCard builds on CIVC’s investment experience in the outsourced business services industry. Prior outsourced business services investments have included KPA Services, Yellowstone Landscape Group, EN Engineering, PowerTeam Services and Track Utilities.
For more information on MWW’s acquisition criteria, please visit www.magnateworldwide.com or email Dan Para (dpara@magnateworldwide.com) or Mike Welch (mwelch@magnateworldwide.com).
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July 20, 2015
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TEANA Conference Highlights
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"We attend the TEANA conference each year because we are committed to the forged friendships and relationships that we have developed over the years with our partner carriers. The TEANA conference gives us opportunity to meet face to face with our partners and allows us time to discuss past work, current business, and future opportunities – along with any lingering service issues that may yet to be resolved. We also like meeting new members and learning more about their service offerings, and appreciate hearing from the guest speakers that are booked each year."
- Kyle Chanski, Universal Traffic Service Inc.
"1st meeting that I have attended and found it very informative. Great networking and made it easy to meet other expediter's."
- Scott Strano, Hazel's Hot Shot
Join A TEANA Committee!
As you heard over the weekend, joining a TEANA Committee is beneficial to not only keep this organization growing but it's beneficial to you as well. Committee members benefit from the opportunity to network with peers and colleagues during monthly conference calls, learn about new resources, and gain new insights that can be applied to your company. Involvement at the committee level is also encouraged to be eligible to run for a Board position.
What committee are you interested in joining?
We'd also like to welcome Laurie Moore of DMW Expedite as our new Membership Committee Chair!
Welcome New Members!
Please join us in welcoming our newest members. Feel free to connect with TEANA Members in the Members Only section!
Jett Express - Avon, IN
Modern Market Master, Inc. - Loganville, GA
Regulatory Update
TEANA's Legislative Committee Chair, John Mueller of Premium Transportation Logistics and TEANA's Legal Advisor, Hank Seaton of Seaton & Husk, have put together an update on regulatory concerns. To read their latest update, click here.
(If you have something you would like to share with your fellow TEANA members, email info@teana.org)
TEANA | 1315 Walnut Street, Suite 317, Philadelphia, PA 19107
Info@teana.org | (313) 749-8681
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