Maxwell Street Partners with Masterpiece and Boxart Establishing Vertically Integrated Fine Art Logistics Platform

EVANSTON, Ill.--(BUSINESS WIRE)--Maxwell Street Capital Partners (“Maxwell Street”) announced today an investment in Masterpiece International (“Masterpiece”), a leading provider of fine art logistics solutions for museums, galleries, art fairs, and private collectors, previously owned by Imperative Logistics Group LLC, a portfolio company of Littlejohn & Co. Concurrently, Masterpiece has partnered with Boxart, a leader in fine art crating, installation, storage, and delivery services to form Masterpiece Group. Together, Masterpiece and Boxart will offer one of the industry's most comprehensive fine art logistics platforms, combining international transportation expertise with market-leading local services. Maxwell Street is partnering with the Masterpiece senior management team, led by existing Masterpiece president John O’Halloran. The partnership provides additional capital to provide strategic support for the organization as it expands. Maxwell Street’s Evan Harwood, Paul Loeb, Tyler Goldstein, and Sofia Leo join Masterpiece’s board of directors alongside Masterpiece co-founder, David Cohen, and Boxart’s Jimmy Wasserman and Chris DiPreta.

“We are proud to partner with Maxwell Street as we seek to build upon our strong reputation developed over the past 35 years,” said O’Halloran. “This partnership and combination with Boxart brings added service capabilities and re-establishes Masterpiece as an independent fine art logistics specialist. We are excited about the opportunities ahead and to continue providing top tier service for our customers.”

“Masterpiece has built an outstanding reputation through its dedication to customers, specialized expertise, and commitment to service excellence,” added Dante Fornari, CEO of Imperative Logistics Group. “We are proud of everything the Masterpiece team has accomplished and see this transaction as a strategic win-win and strong cultural fit.”

Headquartered in New York, NY, Masterpiece was founded in 1989 as a U.S. Customs broker, international freight forwarder, and logistics provider specializing in fine art transportation. Masterpiece provides a full suite of domestic and international solutions for museums, galleries, and private clients, and has become a leading premium fine art service provider in the US.

“We are overwhelmed with deep pride and satisfaction that the amazing companies we each respectively started are now in the hands of like-minded investors and entrepreneurs that have fine art logistics squarely in their sightline for future growth and expansion,” remarked Cohen and Boxart founder Dennis Fisher.

Wasserman and DiPreta noted, “The Boxart and Masterpiece teams have collaborated for decades and we are thrilled to build the future together. This partnership brings together two organizations with a shared commitment to serving the art community, and we're excited for what lies ahead.”

The Boxart family of companies includes Art Installation Design, Boxart, Boxart Gallery Services, and Waypoint. Based in Brooklyn, NY, Boxart has set the industry standard for fine art services by working closely with renowned museums, galleries, auction houses, private collectors, and artists. Operating across New York and Florida, the group provides a full suite of services for the movement and care of fine art.

“We continue to see significant opportunity in specialized logistics businesses like Masterpiece,” commented Harwood, Maxwell Street’s managing partner. “Masterpiece and Boxart are two of the most trusted brands in fine art logistics and we believe the combination is powerful, offering customers a full end-to-end solution from freight forwarding to final mile transportation, crating, storage, and installation services. We are excited to support the growth of Masterpiece as an independent fine art logistics specialist.”

Terms of the transaction were not disclosed. Winston Taylor LLP provided legal counsel to Maxwell Street, Gibson Dunn to Littlejohn & Co. and Imperative Logistics, and Barton LLP to Boxart.

About Masterpiece International: Masterpiece International, headquartered in New York, was founded in 1989 as a U.S. Customs broker, international freight forwarder, and logistics provider specializing in fine art transportation. Over more than three decades, the company has provided a full suite of domestic and international solutions for museums, galleries, and private clients and has become a leading premium fine art service provider in the US. For more information, please visit https://masterpieceintl.com.

About the Boxart Family of Companies: Headquartered in New York, with a 30-year history in the fine art services industry, the Boxart family of companies — Art Installation Design, Boxart, Boxart Gallery Services, and Waypoint — has set the industry standard for fine art services, working closely with renowned museums, galleries, auction houses, private collectors, and artists. Operating across New York and Florida, the group provides a full suite of services for the movement and care of fine art. For more information, please visit www.boxart.com.

About Maxwell Street Capital Partners: Maxwell Street invests in transportation, logistics, supply chain, and route-based services businesses. Leveraging our deep investment and operational experience in our target industries, Maxwell Street seeks to partner with families, founders, and management teams to help them scale their businesses and achieve their goals. Maxwell Street is based in Evanston, IL. For more information, please visit www.maxwellstreetcap.com or follow Maxwell Street on LinkedIn.