SLIDESHOW

ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Dealmakers

The Buyside:
Disney, Warner Bros. Seek Next-Gen YouTubes

Traditional Hollywood studios such as Disney and Warner Bros. are seeking next-generation YouTube content providers

The Buyside

Activist Investors Dig Into Mid Market
Spurred on by the high-profile success of Carl Icahn and others, a growing crop of firms is looking further downstream

Riverside Makes Midnite 25th Deal in 2012

The acquisition comes on the heels of the firm's data center being flooded in lower Manhattan

Just days after the Riverside Co. suffered a setback with major flooding to its primary data center in downtown Manhattan due to Hurricane Sandy, the private equity firm pushed on with its 25th acquisition of 2012.

The New York and Cleveland-based acquirer announced that it purchased Midnite Air Corp., a provider of third-party transportation services that handles shipping and freight management for more than 1,700 customers.

Terms of the deal were not disclosed.

The move comes just over a week after XPO Logistics Inc. (NYSE: XPO) announced its third deal in the space, a $50 million acquisition of the freight brokerage division of Ozburn-Hessey Logistics LLC.

Riverside's buying of Midnite, based in Los Angeles, is the latest deal in an industry that has seen a lot of M&A activity over the past year. For more coverage, read Logistics, Logistics, Logistics, our Q&A with XPO president Bradley Jacobs “Keep on Trucking,” and watch our video “Logistics Industry Consolidates.”

Madison Capital and Bank of Montreal provided Riverside with senior financing for the deal, while Babson Capital Management provided mezzanine financing.

Riverside hired Jones Day as legal counsel on the investment.

 

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