JERSEY CITY, N.J., June 27, 2019 (GLOBE NEWSWIRE) -- Rand Logistics, Inc. (“Rand”), a leading provider of bulk freight shipping and ship repair services throughout the Great Lakes Region, today announced the appointment of Peter Coxon as Chief Executive Officer (“CEO”). He will also join Rand’s Board of Directors.
Peter brings over 30 years of maritime industry experience to Rand as both an operator and customer. His experience includes senior leadership roles in a number of organizations, including SEACOR Holdings Inc. (NYSE: CKH), the Atlantic Richfield Company (ARCO) and Par Petroleum (now Par Pacific, NYSE: PARR). Peter has led multiple businesses and corporate functions, including serving in leadership positions in marine logistics and vessel construction, energy marketing and logistics, refining and marketing, information technology, startups, and mergers and acquisitions. Prior to his private sector career, Peter served for 13 years as a commissioned officer in the United States Coast Guard and Coast Guard Reserve.
Peter holds two Master’s degrees from the Massachusetts Institute of Technology (MIT) as well as an MBA in finance from the University of Southern California. He is a graduate of the United States Coast Guard Academy.
“We are thrilled to partner with Peter to lead Rand into its next stage of growth,” stated Jason Perri, a Rand Board Member and Partner at American Industrial Partners, Rand’s owner. “Peter has an excellent track record of success in growing and transforming similar businesses. After a thorough search the Board concluded that Peter was the right leader to help us, the existing management team and all of our employees and stakeholders achieve Rand’s full potential.”
“Rand is an outstanding company with dedicated employees, a superior market position, and a top tier capital partner – all of which are key ingredients for success.” said Mr. Coxon. “This is a great opportunity to work with a talented team to continue to build this business and deliver on our vision to be the premier provider of logistics services and solutions in the Great Lakes region and beyond.”
About Rand Logistics
Rand Logistics, Inc. is a leading provider of bulk freight shipping and ship repair services throughout the Great Lakes region. Through its subsidiaries, Grand River Navigation Company and Lower Lakes Towing Ltd., the Company operates a fleet of three conventional bulk carriers and eleven self-unloading bulk carriers including three tug/barge units. The Company is the only carrier able to offer significant domestic port-to-port services in both Canada and the U.S. on the Great Lakes. The Company's vessels operate under the U.S. Jones Act – which reserves domestic waterborne commerce to vessels that are U.S. owned, built and crewed – and the Canada Coasting Trade Act – which reserves domestic waterborne commerce to Canadian registered and crewed vessels that operate between Canadian ports.
About American Industrial Partners
American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 95 transactions and currently has more than $7 billion of assets under management on behalf of leading pension, endowment and financial institutions. For more information on AIP, visit www.americanindustrial.com.
CONTACT:
Rand Logistics, Inc.
Corporate Communications:
Annemarie Dobler
(212) 863-9429
annemarie.dobler@randlog.com
American Industrial Partners
Jason Perri
(212) 627-2360