Transplace announces Greenbriar as new equity partner

By Jeff Berman, Group News Editor
May 29, 2013 - LM Editorial

Non asset-based third-party logistics (3PL) services provider Transplace said yesterday it has selected New York-based private investment firm Greenbriar Equity Group LLC as its new equity partner.

Transplace officials said that Greenbriar acquired Transplace from an affiliate of CI Capital Partners, a New York-based private equity firm. The CI affiliate acquired Transplace in late 2010.

Transplace was established in 2000 as a collaboration among six transportation carriers—J.B. Hunt Transport Services, Covenant Transport, Swift Transportation Co., M.S. Carriers Inc. (which subsequently merged with Swift), U.S. Xpress Enterprises, and Werner Enterprises. When the companies first joined together to establish Transplace, it was viewed as a way to bring shippers and carriers together through a Web-based platform to efficiently collaborate on transportation and logistics planning and execution.

The company is widely viewed as one of the top ten capacity freight brokers and leading 3PLs in the country and generates revenue north of $700 million from about 650 customers across various sectors. It also works with shippers to manage complex logistics and shipping needs via its proprietary Web-based technology platform.

Transplace CEO Tom Sanderson told LM in a 2010 interview, when it was acquired by the CI Capital Partners affiliate, that that the company’s management team had long been interested in finding a good private equity partner that will help move its business forward at a faster pace.

According to Sanderson, the previous ownership did not have a lot of strategic interest in Transplace and were not terribly active participants in the company. He added that they were always open to the idea of a sale and waited until the company progressed to a point where the price they got was reasonable.

“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,” Sanderson said in a statement. “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).”



About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Getting items ordered online to your home on a same-day basis is as important or relevant as it needs to be, and it depends on things like the type of products being ordered and its relative urgency as well. This was put into better perspective for me during a recent conversation I had with Dr. Victor Allis, CEO of Quintiq, a supply chain vendor specializing in a single optimization and planning platform.

Diesel prices dropped for the third straight week, with the average price per gallon seeing a 2.5 percent decline to $3.869 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).

Seasonally-adjusted (SA) for-hire truck tonnage in June dropped 0.8 percent on the heels of a revised 0.9 percent (from 1.0 percent) increase in May and was up 2.3 percent annually.

Even as Congress was putting the finishing touches on a 10-month short-term funding extension to the federal aid highway bill that temporarily averts a funding crisis, Transportation Secretary Anthony Foxx was ripping the measure as a short-term “gimmick” that once again fails to adequately fund U.S. infrastructure needs in the long run.

ISI is comprised of Integrated Services, ISI Logistics and ISI Logistics South and is focused on the warehousing and transportation needs of automotive shippers. RRTS said that in 2013, Integrated Services generated revenues of approximately $21 million adding that Integrated Services is expected to be accretive to Roadrunner’s earnings in 2014.

Article Topics

News · 3PL · Transplace · All topics

About the Author

Jeff Berman, News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA