Madison, Others Provide Financing for Riverside Acquisition
The Riverside Company has acquired Midnite Air Corp. (d/b/a MNX) of Los Angeles. MNX is an asset-light provider of third-party transportation and logistics services to more than 1,700 customers via 18 global offices. Its services include expedited shipping, supply chain management and freight services.
Madison Capital and Bank of Montreal provided senior financing, and Babson Capital Management provided mezzanine financing for the transaction.
MNX customers – largely in the life sciences, aviation services, entertainment and medical device industries – rely on the company to coordinate the movement of goods in an expedited, secure manner. MNX’s primary service offering is its Express Service, which is used to transport a wide variety of high value items, from transplant tissues to mission-critical maintenance parts, typically on a same-day basis. Additional services offered by MNX include freight forwarding and a variety of supply chain services tailored to the needs of its customers and their end markets.
“We anticipate continued growth in demand for the kind of high-touch globalized service that MNX provides,” said Riverside partner Matt Dailey. “MNX offers sophisticated and specialized solutions that meet the needs of demanding customers. We’re excited to partner with MNX’s management team and look forward to working with them to help realize the potential of the platform they