MIAMI and CRANBURY, N.J. (PRNewswire) — Lafayette Square announced that it has provided a credit facility to support Maxwell Street Capital Partners’ (“Maxwell Street”) investment in Port Jersey Logistics (“Port Jersey”), a leading provider of integrated temperature-controlled logistics solutions to the food and beverage industry. The partnership between Maxwell Street and Port Jersey will provide capital for add-on acquisitions and strategic expansion into new geographies, service lines, and end markets.
Founded in 1954 and headquartered in Cranbury, NJ, Port Jersey operates more than 1.25 million square feet of temperature-controlled and ambient warehouse space near the ports of New York/New Jersey and Savannah, Georgia. In addition to its dedicated and multi-client warehouses, the company provides drayage, transportation, and value-added warehousing services, offering fully integrated supply chain solutions to its customers.
“Port Jersey’s strategic operating locations, end-to-end suite of services, and deep relationships with fast-growing food and beverage brands make this partnership an exciting opportunity,” said Evan Harwood, Maxwell Street’s Managing Partner. “We’re grateful to Lafayette Square for its financing support as we usher in a new wave of growth for the company.”
“Now is the time for us to bring our comprehensive logistics solutions to more markets. The support from both Maxwell Street and Lafayette Square will allow us to build upon a 70-year track record of providing value to our customers, and create additional opportunities for our employees,” added Jeff Ramella, CEO of Port Jersey.
Beyond capital, Lafayette Square provides support and incentives to portfolio companies through its affiliated managerial assistance program, Worker Solutions®, a tailored benefit offering designed to reduce turnover and operational risk while improving job quality, retention, and productivity.
“With its strategic, port-centric operating model, Port Jersey is well positioned for future growth,” added Judd Kohn, Managing Director at Lafayette Square. “We look forward to supporting the company and its employee base with a mix of capital and services to help them thrive in this next phase.”
