Arsenal Capital Partners completed its acquisition of Charter Brokerage Holdings, a logistics provider to petroleum industries in North America, from fellow private equity firm Summit Park Partners and senior management.

"We have targeted logistics as a key focus area of investment going forward, and have invested in operating resources that we believe can add value to our portfolio companies in this industry," said Arsenal managing director Jim Marden.

In a press release Thursday, Arsenal said it seeks to expand into new service offerings, new geographies and new end markets. Arsenal did not disclose the terms of the deal, which received Hart-Scott-Rodino clearance last week.

Arsenal last acquired a logistics proivder when it bought Priority Solutions in 2005, which it subsequently sold to ThermoFisher in 2007.

Funding was pulled from Arsenal's $500 million Fund II, with debt financing from Dymas Capital Management, Audax Mezzanine and Sankaty Advisors. Harris Williams acted as financial advisor to Charter Brokerage. Proskauer Rose was legal advisor for Arsenal Capital.

Also last week, Arsenal Capital said it invested $30 milllion in online consumer lender FirstAgain. Financial services is another of Arsenal Capitals key focus areas.



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