Diversifies Rand's Industry-Leading Offerings,
Signifies Expansion into Liquid Bulk Shipping Services with
Best-in-Class Partner
WILLIAMSVILLE, N.Y., July 31,
2024 /PRNewswire/ -- Rand Logistics, Inc.
("Rand"), a leading provider of bulk freight shipping in the Great
Lakes region, today announced that it has acquired Andrie, LLC
("Andrie" or "the Company"), a leading marine transporter of liquid
bulk commodity goods, from Auxo Investment Partners. Financial
terms of the transaction were not disclosed.
Based in Muskegon, Michigan,
Andrie is a bulk transporter of specialty liquid products including
asphalt, cement, refined oil products, and calcium chloride. Andrie
serves a diverse set of blue-chip customers, connecting flagship
North American production assets with distribution networks
throughout the Great Lakes region via its diverse fleet of
specialty vessels. Andrie's safety-first driven business model has
enabled the Company to become a trusted partner for customers in
North America. Andrie will
continue to be led by CEO Sven
Christensen and the current management team, and the Company
will operate as a Rand business under the existing Andrie
brand.
Rand currently operates a 21-vessel fleet and provides
comprehensive supply chain solutions through the transport of dry
commodities including iron ore, aggregates, grain, metallurgical
coal, and salt. With the addition of Andrie, Rand will expand its
service offering to include the bulk transport of both dry and
liquid commercial products for customers in the Great Lakes region.
Rand is a portfolio company of Duration Capital Partners, a newly
formed private investment firm focused on North American
transportation infrastructure.
"As we continue to thoughtfully grow our platform and service
offerings, we are pleased to partner with an industry leader in
Andrie that brings together complementary cultures and
capabilities, while expanding our presence in the Great Lakes
region," said David Foster, CEO of
Rand. "Andrie's exceptional reputation with customers, dedication
to employee safety and client service, and experienced management
team makes them an ideal partner for Rand, and we look forward to
working closely with Sven and the entire Andrie team to achieve
greater success together."
"We're proud of the legacy we've built over the last 36 years as
one of the premier providers of bulk cargo transportation on the
Great Lakes, and see incredible growth opportunities for our
business as part of the Rand platform," said Mr. Christensen. "The
Rand team shares our focus on safety and customer service, and we
look forward to joining forces with David and the team to both
efficiently and safely deliver for our customers."
About Rand Logistics
Rand Logistics, Inc. is a leading provider of bulk freight shipping
services throughout the Great Lakes region. Through its
subsidiaries, American Steamship Company, Grand River Navigation,
and Lower Lakes Towing, the Company operates a fleet of 21 vessels,
including one conventional bulk carrier and 20 self-unloading bulk
carriers including three tug/barge units. The Company is the only
carrier able to offer significant domestic port to port services in
both Canada and the U.S. on the
Great Lakes. The Company's vessels operate under the U.S. Jones Act
which reserves domestic waterborne commerce to vessels that are
U.S. owned, built and crewed and the Canada Coasting Trade Act
which reserves domestic waterborne commerce to Canadian registered
and crewed vessels that operate between Canadian ports. For
additional information, please visit: https://www.randlog.com/.
About Andrie, LLC
Founded in 1988 along Michigan's Western shoreline, Andrie, LLC is a
Jones Act bulk transporter of specialty products including liquid
asphalt, cement, refined oil products, and calcium chloride
throughout the Great Lakes. Andrie provides services to a diverse
set of customers involved in growing and sustaining the
infrastructure of the Midwest and throughout the country. The
Company operates vessels in all five Great Lakes and into the
Illinois River. For additional information, please visit:
https://andrie.com/.
Contact
For Rand Logistics:
Erik
Carlson / Madeline Jones
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Rand Logistics, Inc.