Headquartered outside of Chicago, Partners Warehouse operates eight facilities with nearly 1 million square feet of space in Illinois. Its warehousing functions include cross docking, pick-and-pack, container unloading and rail car loading and unloading. It serves the building materials, lumber, metals, automotive and consumer goods verticals.
Terms of the transaction were not disclosed.
“Our country is facing a significant shortage of warehousing capacity, with nearly 1 billion square feet of new industrial space needed by 2025 to keep up with extraordinary demand,” Nick Antoine, co-founder and co-CEO at Red Arts Capital, stated in a news release. “We believe that Partners is well positioned to provide much-needed warehousing capacity as it continues to grow near Chicago’s highly strategic inland port.”
The deal was the latest in a string of transactions for the Chicago-based middle-market private equity firm focused on investment in supply chain and logistics companies.
Red Arts Capital’s investment in Partners Warehouse will extend beyond the initial acquisition.
“Today, the Partners Warehouse holding company employs approximately 150 people. We anticipate nearly doubling the platform’s headcount and square foot capacity just this year alone,” said Chad Strader, Red Arts Capital co-founder and co-CEO.
