Phoenix International Completes Reported $635 Million Sale to C.H. Robinson Worldwide Republic Partners Advises Phoenix in its Successful Search for Strategic Alternatives Business Wire CHICAGO -- November 01, 2012 Republic Partners, Inc. today announced the completion of the $635 million sale of Wood Dale-based Phoenix International, Inc. to C.H. Robinson Worldwide, Inc. The acquisition was finalized today after C.H. Robinson, a global provider of multimodal transportation services and logistics solutions, received regulatory approval to acquire Phoenix, the largest privately-owned international freight forwarder in North America. In its most recently completed fiscal year, Phoenix generated gross revenues of approximately $807 million, net revenues of approximately $161 million and adjusted operating income of approximately $48 million. Phoenix primarily provides international freight forwarding services, including ocean, air and customs brokerage, currently serving approximately 15,000 customers globally. Phoenix has approximately 2,000 employees, located in 76 offices in 15 countries. As previously announced, the transaction was structured as a cash and stock purchase agreement. C.H. Robinson acquired Phoenix for $571.5 million in cash and approximately $63.5 million in newly-issued C.H. Robinson stock. Republic Partners (“Republic Partners”), a Chicago-based investment bank that advises businesses on mergers, acquisitions and capital raising as well as ongoing strategic and financial activities, worked with Phoenix for six years in total, and intensively over the last two years, to assist the company in maximizing its value as well as finding the right buyer through an international auction that included participants from North America, Europe and Asia. “It has been a privilege to work with a company as wonderful as Phoenix International. It is a terrific business that has been built by a team of extraordinary individuals,” said Robert S. Levin, managing director of Republic Partners. “I expect that the company will continue to thrive as part of C.H. Robinson.” “We could not have achieved the result that we did without Republic Partners,” said Bill McInerney, Phoenix executive chairman who founded the company in 1979. “They worked tirelessly on our behalf and ran an effective process, providing wise advice and personal service from start to finish. Most important, they helped us find the right buyer who values what we have built and shares our cultural values as well.” Phoenix CEO Stéphane Rambaud, who will lead the combined international freight forwarding services of C.H. Robinson and Phoenix, concurred on the quality of the outcome. “The Republic team did an excellent job,” Rambaud said. “Joining with C.H. Robinson will allow us to better serve our customers while also providing more career opportunities for our employees.” Latham & Watkins LLP served as legal counsel to the company. Phoenix International Phoenix International, Inc., is the largest privately-owned international freight forwarder, NVOCC and customs broker headquartered in North America, with more than 2000 employees in 72 global offices. C.H. Robinson Founded in 1905, C.H. Robinson Worldwide, Inc., is a global provider of multimodal transportation services and logistics solutions, serving over 37,000 customers through a network of 234 offices in North America, Europe, Asia, South America, and Australia. C.H. Robinson is one of the largest third-party logistics companies in the world, with annual total revenues of over $10 billion. For more information about the company, visit www.chrobinson.com. Republic Partners Republic Partners, Inc., is an investment bank that provides highly personalized service to owners and leaders of middle-market companies The Republic team has successfully helped many clients in the transportation and logistics sector and also has significant experience in the energy, healthcare, industrial products and consumer products industries. Republic Partners prides itself on its long-term relationships with clients that include start-ups as well as companies with over $2 billion in annual revenues. For more information, visit www.republicpartners.com. Contact: for Republic Partners, Inc. Robert Elfinger, (773) 319-5794 email@example.com http://www.republicpartners.com/
Phoenix International Completes Reported $635 Million Sale to C.H. Robinson Worldwide
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