Generational Equity advises Demark Global Logistics in sale to Manitoulin Global Forwarding
Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Demark Global Logistics, Inc. (Demark) to Manitoulin Global Forwarding (MGF). The acquisition closed October 15, 2019 and details were not disclosed.
Established in 1991, and located in Miami, FL, Demark provides a full suite of logistics solutions including freight forwarding, customs brokerage, and warehousing. Specialising in logistics solutions for general commodities, textiles and furniture, Demark has an additional location in New Jersey and a network of agents around the world.
MGF, located in Mississauga, ON, is a member of Manitoulin Group of Companies. MGF is a leading international freight forwarding solutions provider, servicing more than 220 countries and territories worldwide. Through its offices in Canada, the United States, and Mexico, and an international network of agents, Manitoulin provides global and local customised solutions that meet customers’ supply chain objectives. Whatever the requirements may be — air, ocean or land — customers depend on Manitoulin for reliable shipping to any part of the globe.
“We are confident that our customers will be in excellent hands with MGF and will experience a seamless transition,” said Mirna Ramirez, president and chief executive officer, Demark. “It was important for us to hand over the reins of our family business to a reputable company that strives to make a difference for their customers.”
“We are thrilled to welcome Demark into the ever-expanding Manitoulin family,” said Dwayne Hihn, president, MGF. “For nearly 30 years, Demark’s customers have relied on them for their global expertise and quality service. Demark, like Manitoulin, has built their business from the ground up, fully committed to doing what’s best for the customer, with a constant eye on predicting and meeting customers’ evolving needs, solving problems and getting the job done.”
Generational Equity Executive managing director of M&A – Eastern Region, David Fergusson and his team, led by managing director, Barry DeWitt, and supported by vice president mergers & acquisitions, Alex Mironov, successfully closed the deal. Senior managing director Roger Dean established the initial relationship with Demark.