Acquisition furthers Grammer’s diversified asset-light logistics platform to include transportation management and third-party services specific to the chemicals and industrial gases industries
COLUMBUS, IN, October 24, 2022— Grammer Logistics (”Grammer” or the “Company”), a leading chemicals, industrial gases, and hazardous materials transportation and logistics firm, announced it has completed the acquisition of Logistics Management Resources, Inc. (”LMR”). Based in Baton Rouge, Louisiana, LMR provides quality transportation management solutions to the chemicals, industrial gases, and related industries. Grammer is a portfolio company of Stellex Capital Management LLC and Mill Rock Capital.
Grammer has significantly scaled its footprint, service offering, and operational capabilities in recent years through a combination of strategic acquisitions and organic growth initiatives. The Company continues to grow and develop customer-specific transportation solutions within the industrial gases, chemicals, and hazardous materials sectors.
Scott Dobak, CEO of Grammer stated, “LMR is a highly-respected leader in the chemicals logistics market. We are thrilled to welcome their team into the Grammer family. This acquisition supports our strategy of providing a diversified offering of both asset and non-asset services to our growing customer base. We believe this integrated approach is the future of chemicals logistics.”
Since 1981, LMR has provided third-party logistics services to the chemicals industry across all modes of transportation. Driven by key processes, industry expertise, and a robust TMS platform, LMR provides clients with customized solutions that meet their supply chain needs.
As part of the transaction, the LMR team will remain with the Company, including LMR’s President and CEO Heston Hodges, who will lead Grammer’s transportation management division.
Mr. Hodges stated, “By combining the expertise of both companies, it creates a win-win combination. All stakeholders will benefit from the additional services that LMR and Grammer will jointly offer to the marketplace. Our clients gain access to an internal fleet of highly-specialized drivers and equipment, and the strong carrier relationships we have developed over years will be further supported by the additional opportunities available through the combined platform.”
About Grammer Logistics
Grammer Logistics (www.grammerlogistics.com) is recognized as the premier provider of safe, dependable bulk hazardous chemicals transportation services in the United States. Grammer’s excellent record of safety and solutions focused approach to business has allowed the company to cultivate longstanding relationships with its client partners. The company has more than 20 facilities strategically located near major chemical production hubs across the United States, including 350 tractors, 950 specialty trailers and over 500 drivers and owner-operators serving over 500 diverse shippers across the Ammonia, LP Gas, Nitric Acid, NGLs, and General Chemical markets.
About Stellex Capital Management LLC
With offices in New York, Detroit, Pittsburgh, and London, Stellex Capital is a private equity firm with over $2.6 billion in AUM. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight, and access to capital. Sectors of particular focus include specialty manufacturing, industrial and business services, aerospace & defense, automotive, government services, transportation, logistics and food. Additional information may be found at www.stellexcapital.com.
About Mill Rock Capital
Mill Rock Capital is a growth and operations oriented private investment firm that invests in well-positioned middle market industrial businesses in North America. Founded by Christopher Whalen and Adi Pekmezovic, Mill Rock is purpose-built to invest in family-owned businesses, owner-operators, and founder-led companies across six industry verticals. Focus sectors include chemicals, materials & packaging; industrial distribution; services; metals & engineered materials; transportation and logistics; and specialty manufacturing. This strategy leverages the deep expertise of the firm’s principals, a majority of whom have direct operating experience in these same industries. Mill Rock supports business transformation through a dual-sourcing strategy encompassing majority equity and Activ Capital® – debt, senior equity or hybrid investments which provide business owners value-added financial partnership without relinquishing a controlling stake. For more information, please visit millrock-cap.com.