Charthouse Holdings Acquires Pronto Freight Ways

News provided by

May 21, 2024, 08:00 ET

DETROIT, May 21, 2024 /PRNewswire/ -- Charthouse Holdings LLC today announced the closing of its acquisition of Pronto Freight Ways, LLC of Taylor, Michigan. Pronto, which has supported the freight forwarding industry for more than 25 years, provides one-stop service for time-sensitive and mission-critical air freight, local cartage, drayage and warehousing. Pronto has approximately 100 employees and a second location in Chicago. The Company also offers daily consolidation service between Detroit Metropolitan Airport and Chicago's O'Hare International Airport. Old National Bank, headquartered in Evansville, Indiana and Chicago, Illinois, served as Charthouse's senior lender. Charter Growth Capital Fund II, LP of Grand Rapids, Michigan co-invested in the transaction. The terms of the transaction were not disclosed.

"We are thrilled to announce the acquisition of Pronto and officially welcome our new colleagues to the Charthouse family," said Jeff Rogers, CEO of Charthouse. "Pronto is an ideal partner for us. Our experience is highly complementary with Pronto's service offering. We also look forward to growing the platform by identifying other potential partners in adjacent markets that fit with our strategy."

Rogers has over 35 years of experience in transportation and logistics. He previously served as CEO of Universal Logistics Holdings, Inc. Before Universal, Rogers was President of YRC Freight and USF Holland. Edwin Lukas and Gary N. Lewis serve as Co-Chairs of Charthouse.

Paul Wozniak, the founder of Pronto, will continue to serve as its President. "The sale to Charthouse opens an exciting new chapter in our mission to provide the highest level of service to our customers," said Wozniak. "Charthouse's experience and network will provide us access to capital, relationships, and enhanced technology, all of which will help scale our business and diversify our services. Their approach, culture and focus on investing in and accelerating employee development was also a key factor in our decision to partner with this team."

Edwin Lukas stated, "The closing of this transaction marks Charthouse's most important step to date towards executing its strategy of building a specialized provider of services that are critical to the uninterrupted operations of our customers. Pronto has a terrific corporate culture, and their employees and customers will be in good hands under Jeff and Paul's shared leadership. We are truly excited about this milestone for Charthouse."

Taft Stettinius & Hollister LLP acted as legal advisor to Charthouse. Kerr, Russell and Weber, PLC represented Pronto. Varnum LLP represented Old National Bank, and Bodman PLC served as legal counsel to Charter Growth Capital.

About Charthouse Holdings

Charthouse Holdings, based in St. Clair Shores, Michigan, offers customized and differentiated supply chain solutions. Charthouse provides its operating companies with strategic, financial and operational support while embracing their legacy, culture and unique attributes. Charthouse's mission is to increase the operating efficiency and growth trajectory of its partner companies and enhance their results while transitioning them from an owner-led organization to one driven by a team. For more information, visit: www.charthouseholdings.com.

About Pronto Freight Ways

Pronto is a leading supply chain solutions provider of one-stop service for time-sensitive air freight, local cartage, drayage and warehousing. Pronto specializes in expedited LTL and TL services, and it primarily offers same-day pickup and delivery support within 150 miles of Detroit and Chicago. With its customers facing cutoff times, next-flight-out urgency and delivery deadlines, Pronto provides the ground support that air freight forwarders and shippers trust. Pronto, which offers daily consolidation service between DTW and ORD, is also a capable intermodal carrier. Its drivers are TSA- and HazMat-certified. For more information, visit: www.prontofreightways.com.

Contacts

Jeff Rogers at [email protected]

Paul Wozniak at [email protected]

SOURCE Charthouse Holdings LLC