(Sept. 26, 2013) – Platinum Equity
announced today it has acquired HomeDirect, Inc. from Transportation Resource
Partners, LP (TRP) and is combining the business with Platinum Equity portfolio
company MXD Group.
HomeDirect was established in 1995 as part of the Bekins Company and has
been owned by TRP since 2005. MXD Group (formerly Exel Direct, Inc.), was
acquired by Platinum Equity from Exel Inc., a subsidiary of Deutsche Post DHL,
in May 2013 and the business was rebranded last month.
“Bringing together the people, technology, customers
and third-party relationships from our two companies creates a powerful
combination,” said MXD Group CEO David Vieira.
forces with HomeDirect provides us with the market density and assets to
improve transit times and diminish touches, resulting in improved quality and
service for our customers.”
Both MXD Group and HomeDirect specialize in
high-touch “white glove” delivery services for North American retail brands
across a variety of consumer segments.
U.S. and Canada, manufacturers, retailers and their respective customers will experience real benefits in terms of speed,
consistency of delivery experience and
access to a complete suite of offerings from a single provider,” said Brian
Gallagher, president of HomeDirect.
combined business will offer a fuller range of services including dedicated,
line haul, reverse logistics, warehousing and distribution, deluxing and
business brings its own distinct expertise to the combination: MXD has a broad base
of dedicated blue-chip customers and strategically located hubs; HomeDirect has
customer-friendly technology that simplifies the order and tracking process
critical for e-commerce.
Kelln, Platinum Equity Partner and President of Portfolio Operations, said the transaction demonstrates Platinum Equity’s
commitment to MXD Group’s growth.
“Completing a transformative transaction with
HomeDirect less than six months after acquiring MXD Group demonstrates that we
are serious about establishing a leader that provides a broad spectrum of
delivery solutions,” said Mr. Kelln. “We
will continue exploring opportunities to grow the business and expand its
MXD Group (www.mxdgroup.com) specializes in final mile delivery logistics solutions for
North American retail brands across the consumer electronics,
furniture and appliance segments. The business coordinates and executes
non-conveyable product deliveries utilizing a nationwide network of
professionally managed and certified independent contractors and
agents. MXD is a leader in white glove home delivery and retail
replenishment solutions and services.
About Platinum Equity
Equity (www.platinumequity.com) is a global M&A&O® firm specializing in
the merger, acquisition and operation of companies that provide services and
solutions to customers in a broad range of business markets, including
information technology, telecommunications, logistics, metals services,
manufacturing and distribution. Since its founding in 1995 by Tom Gores,
Platinum Equity has completed more than 150 acquisitions. The firm recently completed raising Platinum Equity Capital Partners III, a
$3.75 billion buyout fund focused on investing in businesses that can benefit
from Platinum Equity’s operational expertise.
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