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Transplace selects TPG Capital as new equity partner

Published 16 August 2017

Transplace, a provider of transportation management services and logistics technology solutions, has selected global alternative asset firm TPG Capital (TPG) as its new equity partner.

TPG and management will acquire Transplace from Greenbriar Equity Group LLC (“Greenbriar”), who joined with Transplace management to acquire the company in 2013. The transaction is expected to close in late-September. Terms of the transaction will not be disclosed.

Transplace is a North American non-asset based logistics services provider offering manufacturers, retailers, chemical and consumer packaged goods companies the optimal blend of logistics technology and transportation management services.

As the largest managed transportation service provider in North America, Transplace generates gross revenue in excess of $1.8 billion from more than 1,000 customers.

“As customer expectations for fast and transparent service and delivery increase, the supply chain is quickly becoming more complex. As a result, many companies have started to outsource freight spend in order to achieve better procurement at a lower operating cost,” said Jack Daly, firm partner and global head of industrials and business services for TPG Capital.

“Transplace is providing an expansive, high-quality, customizable solution for managing today’s supply chain. The company’s leadership, ongoing focus on innovation, and customer service is unmatched, and we believe Transplace is well positioned to thrive from the immense technological change happening within logistics today. We are excited to partner with Tom, Frank and the Transplace team to accelerate growth, both organically and through acquisition.”

“We are excited to partner with TPG Capital, which has a long history of creating value across sectors, including software, technology and industrials," said Frank McGuigan, president & COO, Transplace. “As our new equity partner, TPG will support the continued growth of our business, while building value for our customers and creating attractive opportunities for employees.”

Transplace CEO Tom Sanderson added, “We have enjoyed working with Jill Raker and the Greenbriar team. Our partnership with them enabled Transplace to significantly enhance our capabilities through four successful acquisitions in the last four years, including leading cross-border freight management company, Laser Ramos Gil; U.S. managed transportation service providers M33 Integrated and Logistics Management Solutions; and Canadian transportation management provider Lakeside Logistics. Over our history, we have completed seven transactions and with TPG Capital, we intend to continue to supplement our strong organic growth track record with strategic acquisitions.”

Transplace and Greenbriar were advised by Morgan Stanley & Co. LLC and Hughes, Hubbard, & Reed LLP. TPG was advised by Kirkland & Ellis LLP.



Source: Company Press Release