The third party logistics company and truck brokerage Transplace said Tuesday it has tapped New York-based private investment firm Greenbriar Equity Group LLC as its new equity partner.
Greenbriar acquired Transplace from an affiliate of CI Capital Partners, who joined with Transplace management in 2009 to buy the company from its original owners.
Transplace was founded in 2000 by six of the largest freight carriers in the United States and provides full transportation outsourcing, carrier contracting and negotiation, and freight brokerage services. It also offers intermodal services as Celtic International.
The company said it has gross revenue of more than $1.3 billion from more than 700 customers.
“Transplace has an outstanding executive leadership team, an excellent customer base, and a differentiated set of logistics solutions,” said Jill Raker, managing director at Greenbriar, said.
“Greenbriar has a long-standing focus on the logistics sector, understands our industry and will support growing our business, while building value for our customers and creating attractive opportunities for employees,” said Transplace Chief Executive Officer Tom Sanderson. “Our partnership with CI Capital provided the opportunity to supplement organic growth with mergers and acquisitions such as leading intermodal transportation provider Celtic International, chemical-focused 3PL SCO Logistics, and Canadian transportation manager Torus Freight Systems (now Transplace Canada).”
Terms of the transaction were not disclosed. - Eric Johnson