TPG Capital and the management of North American 3PL and technology provider, Transplace, have agreed to buy the company from fellow private equity firm Greenbriar Equity for an undisclosed sum.
Transplace is the largest managed transport service provider in North America, according to Greenbriar, generating annual revenue of more than $1.8 billion from over 1,000 customers.
Commenting on the move, Tom Sanderson, CEO of Transplace, paid tribute to Greenbriar managing partner Jill Raker and her team for the progress the company had made under Greenbriar’s ownership.
“Our partnership with them enabled Transplace to significantly enhance our capabilities through four successful acquisitions in the last four years,” said Sanderson.
Those acquisitions included Laser Ramos Gil, M33 Integrated and Logistics Management Solutions, and Canadian company Lakeside Logistics.
“Over our history, we have completed seven transactions and with TPG Capital, we intend to supplement our strong organic growth track record with strategic acquisitions,” added Sanderson.
Greenbriar bought the company from another private equity firm, CI Capital, in 2013. Transplace was founded in 2000.
The investment is TPG Capital’s third in the supply chain space within the last year, following the purchase of LLamasoft and Transporeon.
“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,” commented Jack Daly, partner and global head of industrials and business services at TPG Capital.
The transaction is expected to be completed in September.
