US-based automotive third party logistics provider MetroGistics has been bought out by private equity firm Tailwind Capital for an undisclosed sum.
"We are excited to partner with the MetroGistics management team,” said Jeff Calhoun, partner at Tailwind Capital. “The team brings extensive logistics industry experience and an impressive track record of driving growth. We look forward to building on their success."
Last year, MetroGistics merged with McNutt Automotive Logistics to expand its offering beyond the non-asset-based 3PL model to include a full range of logistics and asset-based transport services to carmakers, the used car market, dealerships and remarketing companies, amongst others.
MetroGistics was set up in 2010 and provides finished vehicle logistics services to both OEM and remarketed automotive customers through a network of nearly 3,400 third-party carriers. The company provides services for OEMs including Ford, General Motors, Fiat Chrysler Automobiles, Toyota, Nissan, BMW, Volkswagen and Kia. It also provides services for car rental companies Hertz, Enterprise and Avis.
Tailwind Capital owns 24 companies across a broad range of industries. MetroGistics is currently its only automotive logistics acquisition though it also owns ReTrans, a division of Kuehne + Nagel based in Memphis providing non-asset-based 3PL services.
