Third-party logistics company Transplace has selected the New York-based private investment firm Greenbriar Equity Group 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.
“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 Tom Sanderson, Transplace’s CEO.
Sanderson noted that the partnership with CI Capital provided the opportunity to supplement organic growth with mergers and acquisitions such as intermodal transportation provider Celtic International, chemical-focused 3PL SCO Logistics, and Canadian transportation manager Torus Freight Systems, now Transplace Canada.
Transplace was founded in 2000 by six of the largest freight carriers in the U.S. and helps customers manage complex logistics and transportation needs by providing customized solutions through its proprietary transportation management system.
Transplace generates gross revenue in excess of $1.3 billion from more than 700 customers.