Matrix Capital Markets Group arranged the acquisition of ASAP Expediting & Logistics and G&H Transport by Trump Card Holdings, a subsidiary of Magnate Worldwide and a portfolio company of CIVC Partners.
Founded in 2008 by CEO Garland Hobgood, ASAP Expediting & Logistics is a third-party logistics business that provides expedited freight solutions to domestic and international customers.
The transaction was managed by David Shoulders, managing director and head of Matrix’s consumer and industrial investment banking group; William O’Flaherty, director at Matrix; John Mosser, associate at Matrix; Matt Oldhouser, associate at Matrix; and Duncan Rogers, analyst at Matrix.
“We are grateful to have been selected by the Hobgoods to assist them in this important assignment. They have been a joy to work with and we are thrilled to arrive at an outcome that achieved all of their objectives,” Shoulders said.
“We are very excited to forge the next phase of ASAP and could not have found a better home. TrumpCard and ASAP have very similar cultures and recognize that our people are what make us who we are,” Hobgood said. “Matrix has exceeded our expectations across the board. They have been invaluable resources throughout this process and are responsible for this outstanding result. Their work ethic and enthusiasm are second to none.”
“TrumpCard’s specialization and unique value proposition has always allowed us to set ourselves apart from other service providers. We found the same rare quality in ASAP, and now we can expand our service offering while leveraging the core resources of TrumpCard,” Marco Hanlon, executive chairman of TrumpCard, said.
“ASAP and TrumpCard are each very special companies built upon satisfying the most demanding and unique shipping circumstances. The joining of these strengths forms a landmark partnership of two companies with exceptional leadership and a laser-like market focus,” Dante Fornari, CEO of Magnate, said.
Magnate Worldwide is a diversified supply chain management company consisting of a portfolio of logistics providers focused on domestic transportation and global freight forwarding.
TrumpCard specializes in the transportation of domestic heavyweight shipments.
As part of the transaction, the Hobgoods will remain active in the day-to-day operations of the company. ASAP’s office in Columbia, SC, will service its surrounding manufacturing corridor and will continue to be fully operational.
Williams Mullen served as legal counsel for ASAP Expediting & Logistics. Kirkland & Ellis served as legal counsel for TrumpCard, Magnate Worldwide and CIVC.