JOC Staff | Jan 06, 2010 2:42PM EST
Private equity firm Calera Capital took over majority ownership of Rock-it Cargo, one of the largest specialty forwarders focused on the entertainment and arts field.
Calera officials said they made the investment this week and said they expect to help the company expand into “the next stage of its development.”
Philadelphia-based Rock-it Cargo had expanded most recently in late 2008 when it bought Dietl International Services, which focused on international fine-art shipping, and has built its business on shipping it says involves “complex itineraries, international destinations and fragile cargo.”
It lists the major Hollywood film studios among its ongoing customers and has handled musical tours for clients including Green Day, Madonna and Bruce Springsteen.
“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,” said Rock-It Cargo CEO David Bernstein.
