The ocean cargo shipping line, Maersk, announced today that it has entered into an agreement to sell substantially all the assets of its subsidiary Bridge Terminal Transport, to an affiliate of Platinum Equity, a Los Angeles-based private equity firm.
Bridge Terminal Transport is a marine drayage company in the United States with a 30-year history. It covers major port locations and inland rail sites through a network of 28 terminals, 25 container yards and over 1,285 owner operators. Customers include shipping lines, importers/exporters, and related segments.
The transaction is expected to be completed on or about September 1. Terms of the deal were not released.
Platinum Equity is a firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995, Platinum Equity has completed more than 150 acquisitions.