January 11 - Calera Capital, a leading middle-market private equity firm, has invested in Rock-It Cargo LLC (Rock-It) in partnership with Rock-It management.
Rock-It, headquartered in Philadelphia, PA, is a leading provider of speciality freight forwarding and logistics services including industrial projects, corporate live events, sports events, theatre, trade shows and fine art exhibitions.
James Halow, a Principal at Calera Capital, stated, "We have spent over 18 months getting to know Rock-It's management and its business and are excited about partnering with the Company in the next stage of its development. Rock-It has strong brands, a long track record of executing for its clients and an attractive, defensible business model. As such, the business should be uniquely positioned to benefit from strong underlying trends in music touring and continued expansion in new and existing markets."
David Bernstein, CEO of Rock-It Cargo, said, "The Company has an incredible set of opportunities ahead of it. Calera will be a valued partner as we look to further extend the Rock-It platform, enable our independent brands to grow more quickly, execute on operational initiatives and grow in targeted segments both organically and through acquisition. Most importantly, we fully intend to preserve the strong, client-focused culture that has driven our success as we pursue these opportunities and continue to build the business."
Calera Capital will be investing in Rock-It through its fourth fund and on an all equity basis. Terms of the transaction were not disclosed