Maxwell Street Partners with Port Jersey Logistics
This partnership will provide third-party logistics services to customers and additional opportunities for employees.
Topics
Maxwell Street Capital Partners announced today an investment in Port Jersey Logistics, a provider of integrated temperature-controlled logistics solutions to the food and beverage industry.
Maxwell Street is partnering with Port Jersey’s senior management team, who will continue leading the business.
The partnership provides additional capital for add-on acquisitions and strategic support for the organisation as it expands into new geographies, service lines, and end markets. Maxwell Street’s Evan Harwood, Paul Loeb, and Tyler Goldstein join Port Jersey’s board of directors alongside Port Jersey’s CEO Rob Russo.
“We are proud to partner with Maxwell Street as we seek to build upon our strong reputation developed over the past 70 years,” said Russo. “This partnership will allow us to continue providing high-quality third-party logistics services to our customers as well as additional opportunities for our employees.
“Further, as part of our succession planning efforts, I am pleased to announce the promotion of Port Jersey’s President Jeff Ramella to CEO, effective immediately. Jeff has been a tremendous leader in our organisation for several years and has been instrumental in our growth, including our recent expansion into the Savannah, GA market. I look forward to supporting Jeff and the leadership team in this next phase.”
ALSO READ: Nike Launches Web3 Digital Experience
“The future is bright at Port Jersey as we enter this next phase in the company’s history,” said Ramella. “The investments we’ve made in our business have positioned us to better serve our customers and execute our growth strategy of expanding into new markets both organically and through acquisitions. We are excited to partner with the Maxwell Street team given their industry expertise, cultural fit with our organsation, and track record of scaling businesses.
Headquartered in Cranbury, New Jersey, Port Jersey operates over 1.25 million square feet of strategically located temperature-controlled and ambient warehouse space near the Ports of New York/New Jersey and Savannah. In addition to Port Jersey’s dedicated and multi-client warehousing solutions, the company provides value-added warehousing services, drayage, and transportation services, offering customers fully integrated supply chain solutions.
“We continue to see significant said in differentiated logistics businesses like Port Jersey,” said Evan Harwood, Maxwell Street’s Managing Partner.
“Port Jersey’s port-centric strategy and its suite of end-to-end supply chain services make the company a leader in its markets and support its long-standing relationships with some of the fastest-growing brands in the food and beverage industry. We are thrilled to partner with the Port Jersey team and leverage our relevant investing and operating experience to support Port Jersey’s growth strategy.”
ALSO READ: talabat Mart Expands In Egypt To Better Serve Customers
