Please remove the first sentence of the second paragraph of release dated August 18, 2022.

The updated release reads:

RED ARTS CAPITAL ACQUIRES STRATEGIC MIDWEST LOGISTICS COMPANY, PARTNERS WAREHOUSE

As part of its mission to acquire top tier supply chain and logistics companies, Red Arts Capital today announced the purchase of Partners Warehouse. Based in Elwood, Illinois, Partners Warehouse provides warehousing and rail transloading services for a wide range of customers across nearly one million square feet and eight strategic locations in Illinois.

In June, the firm announced the acquisition of Coregistics, an award-winning, contract packaging services provider known for its flexibility and sophisticated systems.

“Partners Warehouse is an ideal platform to execute on Red Arts’ value creation strategy in the warehousing and logistics space,” said Nick Antoine, Co-Founder, Co-CEO and Managing Partner of Red Arts Capital. “Our country is facing a significant shortage of warehousing capacity, with nearly one billion square feet of new industrial space needed by 2025 to keep up with extraordinary demand. We believe that Partners is well positioned to provide much needed warehousing capacity as it continues to grow near Chicago’s highly strategic inland port.”

Partners Warehouse handles thousands of rail cars and containers each year with its Elwood facility located just one block from the entrance of BNSF’s second largest rail and intermodal yard, creating a strong draw for its customers.

Chad Strader, the Firm’s Co-Founder, Co-CEO and Managing Partner, emphasized Red Arts and Partners’ growth plans to meet industry and customer demand. “Today, the Partners Warehouse holding company employs approximately 150 people. We anticipate nearly doubling the platform’s headcount and square foot capacity just this year alone. Red Arts and the Partners management team are committed to meeting our customers’ needs and believe that our planned continued investment will be a strong indicator of that commitment.”

Amongst Red Arts Capital’s group of investors is world-renowned investor and billionaire, Mario Gabelli. In a recent statement on the Red Arts team and their strategy, Gabelli said, ​​"An important part of investing is defining your circle of competence. Nick and Chad have demonstrated expertise in Supply Chain and Logistics and they have remained disciplined to their approach since we invested with them - this expertise is reflected in their accomplishments and the return on our investments.”

Red Arts Capital was formed in 2015 by Co-founders, Co-CEOs and Managing Partners, Chad Strader and Nick Antoine. The firm specializes in private equity investments in supply chain and logistics-related businesses. Red Arts Capital has made waves in the supply chain sector over the past half year with major investments in the aforementioned Coregistics, as well as Sunset Pacific Transportation, Radius Logistics, and now Partners Warehouse. Red Arts also executed the sale of the over century old Midwest Motors Express and Midnite Express to trucking industry titan, Knight-Swift Transportation Holdings back in December for $150M.

About Red Arts Capital

Based in Chicago, Illinois, Red Arts Capital is a leading investment firm focused on supply chain-related, transportation and logistics businesses. Red Arts Capital seeks to partner with and invest in privately-owned, primarily family-owned, and multi-generational businesses with solid business fundamentals and a strong track record and reputation. With sector expertise and a commitment to stewardship and excellence, Red Arts Capital’s approach earns the firm a trusted seat at the table with portfolio companies, investors and partners. For more information about Red Arts Capital, please visit ​​www.redartscapital.com.

About Partners Warehouse

Partners Warehouse was founded in 1989 to provide rail transloading services to the building materials industry. Today Partners operates 6 locations and offers a wide variety of services to clients. Industries served include building materials, lumber and panel products, paper, pulp, steel and other metals, automotive, food and food products, food ingredients, consumer goods and bulk products. Partners Warehouse continues to grow and expand by economically helping our clients. To learn more about Partners Warehouse, please visit www.partnerswarehouse.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220818005472/en/