Florida-based IWS provides warehousing, trucking and distribution services out of its 250,000-square-foot facility in Port Everglades. The company’s full-time staff of 50 also offers brokerage and customs clearance.
Terms of the transaction were not disclosed.
“The IWS acquisition further expands our capabilities and presence in the strategically located and rapidly growing port of Port Everglades, where STG currently has no presence,” Paul Svindland, CEO of Chicago-based STG, stated in a press release.
Svindland took over at STG early last year, following the unwinding of now-defunct truckload carrier Celadon, where he held the same role.
STG was acquired by middle-market private equity firm Wind Point Partners in 2016. STG’s offering includes container freight, contract logistics and customized transportation services. Its ocean container freight services segment moves import/export freight from port to final destination through a network of 20 bonded company and 63 partner facilities.
With the help of Wind Point, STG has acquired 10 logistics companies in the past five years, including Dura Freight, Neutralogistics, Extra Express, Channel Distribution, Freight Force and Veeco.
“Growth via acquisition remains a prominent component of our strategy for expanding STG’s scale and scope,” Konrad Salaber, managing director at Wind Point, said. “IWS is an important addition to STG’s platform as we continue to strengthen our position as the largest network of U.S. customs bonded warehouses in North America.”
Management from IWS will help lead STG’s South Florida operations following the closing.
“I’m committed and looking forward to staying with the business that my wife and I founded 37 years ago and I’m excited to partner with the STG team in the next stage of combined growth,” said Fred Rogacki, IWS founder and president.
Wind Point’s transportation and logistics portfolio also includes Dicom Transportation, A&R Logistics and American Trailer Rental Group.