Charthouse Holdings in St. Clair Shores, which was recently established by a leading private investment firm to offer differentiated supply chain solutions, today announced the closing of its acquisition of Pronto Freight Ways in Taylor.
Pronto has supported the freight forwarding industry for more than 25 years. The company provides one-stop service for time-sensitive and mission critical air freight, local cartage, drayage, and warehousing.
With approximately 100 employees and a second location in Chicago, Pronto offers daily consolidation service between Detroit Metropolitan Airport and Chicago’s O’Hare International Airport.
Old National Bank, headquartered in Evansville, Ind. and Chicago, served as Charthouse’s senior lender. Charter Growth Capital Fund II of Grand Rapids co-invested in the transaction. The terms of the acquisition were not disclosed.
“We are thrilled to announce the acquisition of Pronto and officially welcome our new Pronto colleagues to the Charthouse family,” says Jeff Rogers, CEO of Charthouse. “Pronto is an ideal way for Charthouse to introduce its transportation thesis.
“The Charthouse team’s experience is highly complementary with Pronto’s service offering, and we are eager to get started. We also look forward to growing the Charthouse platform by identifying other potential partners in adjacent geographic markets and service lines that fit with our strategy.”
Rogers has more than 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. He also served for 14 years with United Parcel Service in various finance and operational roles. Edwin J. Lukas and Gary N. Lewis serve as co-chairs of Charthouse.
Paul F. Wozniak, founder of Pronto, will continue to serve as president of the company.
“The sale of Pronto to Charthouse opens an exciting new chapter in our mission to provide the highest level of service to our customers,” says 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. We are very enthusiastic about combining the 40-year transportation know-how of Pronto with the power of the Charthouse platform.”
Edwin J. Lukas stated, “Pronto is an excellent fit and a perfect partner for Charthouse. Pronto has a terrific corporate culture, and I am confident that their employees and customers will be in good hands under Jeff and Paul’s collaborative leadership. We are excited about this important step by Charthouse, and we will continue to prioritize Pronto’s valuable customers through our relentless delivery of top-notch service.”
Taft Stettinius & Hollister acted as legal advisor to Charthouse. Kerr, Russell and Weber acted as legal advisor to Pronto. Varnum represented Old National Bank, and Bodman served as legal counsel to Charter Growth Capital.
Charthouse Holdings 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 charthouseholdings.com.
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 ground support for air freight forwarders and shippers. Pronto, which offers daily consolidation service between DTW and ORD, is an intermodal carrier. Its drivers are TSA- and HazMat-certified.
For more information, visit: prontofreightways.com.
