Click here to close now.



Welcome!

News Feed Item

MNX Announces Acquisition by The Riverside Company

New financial partnership accelerates international growth trajectory

LOS ANGELES, Nov. 8, 2012 /PRNewswire/ -- MNX, a leading global provider of expedited transportation and logistics services, has announced its acquisition by The Riverside Company, a global, private equity firm. An integral part of MNX's continuing global expansion, the move will provide MNX the ability to fund future expansion and acquisitions.

"MNX's compelling service offerings and continued international expansion have contributed to a strong pipeline of opportunities that position the company for growth," said MNX CEO Scott Cannon. "Riverside has a stellar reputation for helping companies accelerate development. We believe the acquisition marries nicely with our existing expansion plans while also benefiting our existing customers and employees. We could not be more thrilled about the opportunities presented by Riverside's partnership, and we look forward to continuing to provide best-in-class service to our customers."

The Los Angeles-based MNX has emerged as a leading innovator in the expedited transportation and logistics industry with a diverse client list that includes specialization in the life sciences, aviation and entertainment industries. The company has offices on four continents, operating a series of partnerships that extend its network to more than 190 countries worldwide and more than 2,400 ground couriers and 450 airlines.

MNX's primary service offering is its Express Service, which is used to transport high-value items, from transplant tissues to mission-critical maintenance parts, typically on a same-day basis. Additional services offered by MNX include freight forwarding and a variety of supply chain services tailored to the needs of its customers and their end markets.

The acquisition coincides with MNX's upcoming 30th anniversary, which finds the company expanding its global network at a rapid pace. In February, MNX purchased the division of AirNet that provides same-day or next flight-out delivery services. MNX has also opened several international offices including Singapore, Korea, Amsterdam and Frankfurt, and hired a number of key team members in Asia and Europe. During the coming months, the company expects to open additional offices in Japan, India and Russia. 

"There is a growing sense of excitement about what this transaction will allow MNX to achieve in the future," said Cannon. "With its expertise as a clear leader among private equity firms focused on investing in mid-sized companies, they are the best partner for MNX to continue its growth trajectory."

Under the terms of the acquisition, which brings few changes to the day-to-day operations of MNX, CEO Scott Cannon will continue in his role and as a meaningful investor; Chuck Dunlap has been named as interim CFO.

"MNX has a reputation for consistent performance and the kind of high-touch globalized service that customers demand in today's market," said Riverside Partner Matt Dailey. "We're excited to partner with MNX's management team and look forward to working with them to help them expand upon the platform they've built."

In February, CEO Scott Cannon announced a plan to grow MNX, which includes continued focus on expansion into international markets through growth opportunities in the company's specialty areas of life science, aviation and entertainment logistics.

About MNX, Inc.
MNX is a premium global provider of specialized, expedited transportation and logistics services. Clients include multinational leaders in biopharmaceutical, life sciences, medical device, aviation and entertainment industries. These organizations rely on MNX's exceptional record of transporting critical items around the world.

Headquartered in Los Angeles, MNX maintains regional headquarters in Singapore and London, enabling global, customized services. MNX serves over 190 countries, including key Asia Pacific and EMEA markets. Services include dedicated hand-carries, next-flight-out and 24/7 express courier, express airfreight, fulfillment operations and 4PL services management.

About The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 295 transactions. The firm's international portfolio includes more than 70 companies. (http://www.riversidecompany.com or http://www.riversideeurope.com)

Media Contact:
Christie Jackson
Edelman for MNX
[email protected] 
+1 323.202.1039

SOURCE MNX, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...