Magnate Capital Partners Announces the Sale of its Majority Interest in ADKOS, a Vehicle Storage Company for Military Personnelcontact: Frank Shinnick
phone: 630.560.3624 email: media@magnateCP.com
Magnate Capital Partners Announces
the Sale of its Majority Interest in ADKOS,
a Vehicle StorageCompany for Military Personnel
CHICAGO – August 19, 2014 Magnate Capital Partners, LLC (Magnate) has completed the sale of its majority ownership interest in ADKOS to the senior management team of ADKOS, including Ryan Barrett (President) and Carville Webb (Director of Military and Customer Relations).
“We wish Ryan and Carville and the whole ADKOS team continued success. They embody the entrepreneurial spirit which drives so many great businesses in America,” said Michael Welch, Magnate Partner and Chairman of ADKOS. “It was an honor for Magnate to be part of ADKOS, which provides such a valuable service to the military men and women serving this country on overseas assignments.”
“Our priority is to take the stress out of storage and to make the deployment of every service member as easy as possible,” said ADKOS President, Ryan Barrett, a veteran of the United States Air Force. “Magnate Capital Partners has been a strong partner and provided key backing to support our mission.”
“We are committed to ensuring that all service members are aware that they are entitled to have their Privately Owned Vehicle (POV) stored while they are deployed — and that they will be reimbursed by the government,” said ADKOS Director Carville Webb, who is also a veteran, CDR United States Navy Retired. “ADKOS made great progress toward our business goals while working with the leadership team at Magnate Capital Partners.”
About Magnate Capital Partners: Magnate Capital Partners is a Chicago-based investment firm. “We collaborate with the leaders in whom we invest to help set the pace of their business and their success,” says Dan Para, CEO, Managing Member, and founder. Magnate prides itself on the track records of its leadership and its adherence to the highest professional and ethical standards. Magnate focuses on the optimal path to creating value within the context of a partner business’s goals. For more information, visit www.MagnateCP.com.
About ADKOS: ADKOS is a veteran-owned national storage company serving the unique vehicle storage needs of military men and women while they are deployed on long- and short-term assignments. For more information, visit www.adkos.com.
About Michael Welch: Mike is a Partner at of Magnate Capital Partners. Prior to joining Magnate, he was the former CEO of Express-1 Expedited Solutions. Mike co-founded Express-1, Inc. in 1989. He sold the company to Segmentz Inc. in 2004 and became the President of the corporation. In 2005 he was named CEO and grew the now public company from under $40,000,000 in revenue to nearly $158,000,000 of revenue in 2010. The rapid growth was achieved through solid organic growth and key acquisitions. Mike helped facilitate the sale of the majority stake of Express-1 Expedited Solutions, Inc. to Jacobs Private Equity in the fall of 2011. The sale resulted in increased capital for the company and increased shareholder value. During his tenure as CEO, shareholder value increased from $2.40 per share to $12 per share, resulting in a 404% increase in just over six years. Mike has a Bachelor of Science Degree in Industrial Marketing from Western Michigan University. He is also the President of the Lake Michigan College Foundation and the Vice President of the Lakeshore Public School Board.
About Dan Para: As Managing Member and founder of Magnate Capital Partners, Dan leads with an aggressive and strategic pace that profoundly motivates his partners. With an appetite for risk and a forward-looking vision, Dan has founded a variety of organizations and completed numerous buy- and sell-side deals. Previously, Dan both founded and led Concert Group Logistics, which was sold to XPO Logistics, Inc. (formerly Express-1 Expedited Solutions) in 2008 where he served on the Board of Directors, and Seko Worldwide which sold to US Freightways, Inc. in 1997. Additionally, Dan is a founder and Vice-Chairman of Burr Ridge Bank & Trust and a partner in Para Brothers, LLC, which
focuses on strategic investments in commercial real estate. He participates in The Para Family Foundation, a 501(c)3 non-profit organization, and served on the advisory board of ADKOS, a military and civilian storage company.