Transplace Selects New Equity Partner Greenbriar Equity Group
Transplace, a leading provider of non-asset based third party logistics, intermodal and truck brokerage services, has selected Greenbriar Equity Group LLC, a New York-based private investment firm, 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. Terms of the transaction were not disclosed.
Transplace is a leading North American 3PL and technology company committed to helping manufacturers, retailers and distributors reduce costs and improve service. The company was founded in 2000 by six of the largest freight carriers in the U.S. and helps Fortune 1000 customers manage complex logistics and transportation needs by providing customized solutions through its proprietary transportation management system. Transplace provides full transportation outsourcing, carrier contracting and negotiation, and freight brokerage services to a diversified blue chip customer base; it also offers intermodal services as Celtic International. One of the top freight capacity brokers in North America, Transplace generates gross revenue in excess of $1.3 billion from more than 700 customers.
Jill Raker, Managing Director at Greenbriar, said: “Transplace has an outstanding executive leadership team, an excellent customer base, and a differentiated set of logistics solutions. By partnering with Tom Sanderson, George Abernathy, Rich Hyland and Steve Golich, along with the rest of the Transplace management team, we expect to further grow the company across the full range of its service offerings to continue providing value to existing and new customers.”
Tom Sanderson, Transplace’s CEO, 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. 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).”
Joost Thesseling, Managing Director at CI Capital, said: “Throughout our history as a firm, we have made investments in businesses operated by high-caliber management teams. Together with Tom Sanderson and the Transplace team, we built a leading third-party logistics company through strategic acquisitions and organic growth. We believe that Transplace is well-positioned to continue to expand its business.”