Un fonds d'investissement prend le contrôle de Transplace (USA)
Source :
http://www.transplace.com/media/2009_CI_Capital_Transplace_FINAL_122209.pdf
et
http://www.logisticsmgmt.com/article/441537-3PL_M_A_News_Transplace_acquired_by_private_equity_firm.php
3PL/M&A News: Transplace acquired by private equity firm
____________________________
Deal may enable 3PL to expand through future acquisitions
Jeff Berman, Group News Editor -- Logistics Management, 12/22/2009
"NEW YORK and DALLAS-In what was described as a move to grow its business, Transplace, a non-asset based third-party logistics (3PL) provider of transportation management, truck brokerage, and technology logistics services, has been sold to an affiliate of CI Capital Partners, a New York-based private equity firm.
Financial terms of the transaction were not disclosed. The deal closed on Friday, December 18.
Transplace was established in 2000 as a collaboration among six transportation carriers-J.B. Hunt Transport Services, Covenant Transport, Swift Transportation Co., U.S. Xpress Enterprises, and Werner Enterprises (which merged with Swift in 2001). When the companies first joined together to establish Transplace, it was viewed as a way to combine the logistics operations of its owners to save money by setting up a centralized system, according to a 2003 report from Northwest Arkansas News.
The company is widely viewed as one of the top ten capacity freight brokers and leading 3PLs in the country and generates revenue north of $700 million from about 650 customers across various sectors. It also works with shippers to manage complex logistics and shipping needs via its proprietary Web-based technology platform.
Transplace CEO Tom Sanderson told LM that the company's management team has long been interested finding a good private equity partner that will help move its business forward at a faster pace.
The previous ownership did not have a lot of strategic interest in Transplace and were not terribly active participants in the company, Sanderson said, adding that they were always open to the idea of a sale and waited until the company progressed to a point where the price they got was reasonable.
"One of the advantages of having a good partner like CI Capital Partners is that there is capital available for acquisitions," noted Sanderson. "We think in this market it is a good time to be a buyer; and certainly there are companies out there-whether they expand the range of services we offer, help us enter new geographic territory or industry segments, or even just building additional revenue within the space we already serve-that all represent good opportunities."
A noted 3PL industry expert said this deal does not come as a huge surprise.
"Transplace was a great idea in its time, but what happened over the years is that it became important for Werner, J.B. Hunt and the other companies to be able to do transportation management activities in house as part of their service offerings for customers," said Dick Armstrong, president and CEO of supply chain consultancy Armstrong & Associates. "The brokerage and the transportation management capabilities Transplace had was no longer a unique circumstance the owners were willing to support, because they needed that capability to be competitive themselves."
Armstrong also said that this deal is likely a good one for all involved stakeholders, with the previous ownership likely turning a profit and Transplace getting an owner that might have some other ideas for expanding service offerings. And on the customer side, Armstrong said this deal may allow Transplace to get involved with other companies to expand its services through such things as international transportation management and freight forwarding.
Transplace CEO Sanderson said that customer reaction to the deal has been very positive, due primarily to the company's management team remaining intact, coupled with the same level of service, and stronger financial backing."
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Le communiqué de Transplace :
http://www.transplace.com/media/2009_CI_Capital_Transplace_FINAL_122209.pdf
-----------------------
Voir aussi :
http://www.transplace.com/
et
http://www.cicapllc.com/
-----------------------
http://www.transplace.com/media/2009_CI_Capital_Transplace_FINAL_122209.pdf
et
http://www.logisticsmgmt.com/article/441537-3PL_M_A_News_Transplace_acquired_by_private_equity_firm.php
3PL/M&A News: Transplace acquired by private equity firm
____________________________
Deal may enable 3PL to expand through future acquisitions
Jeff Berman, Group News Editor -- Logistics Management, 12/22/2009
"NEW YORK and DALLAS-In what was described as a move to grow its business, Transplace, a non-asset based third-party logistics (3PL) provider of transportation management, truck brokerage, and technology logistics services, has been sold to an affiliate of CI Capital Partners, a New York-based private equity firm.
Financial terms of the transaction were not disclosed. The deal closed on Friday, December 18.
Transplace was established in 2000 as a collaboration among six transportation carriers-J.B. Hunt Transport Services, Covenant Transport, Swift Transportation Co., U.S. Xpress Enterprises, and Werner Enterprises (which merged with Swift in 2001). When the companies first joined together to establish Transplace, it was viewed as a way to combine the logistics operations of its owners to save money by setting up a centralized system, according to a 2003 report from Northwest Arkansas News.
The company is widely viewed as one of the top ten capacity freight brokers and leading 3PLs in the country and generates revenue north of $700 million from about 650 customers across various sectors. It also works with shippers to manage complex logistics and shipping needs via its proprietary Web-based technology platform.
Transplace CEO Tom Sanderson told LM that the company's management team has long been interested finding a good private equity partner that will help move its business forward at a faster pace.
The previous ownership did not have a lot of strategic interest in Transplace and were not terribly active participants in the company, Sanderson said, adding that they were always open to the idea of a sale and waited until the company progressed to a point where the price they got was reasonable.
"One of the advantages of having a good partner like CI Capital Partners is that there is capital available for acquisitions," noted Sanderson. "We think in this market it is a good time to be a buyer; and certainly there are companies out there-whether they expand the range of services we offer, help us enter new geographic territory or industry segments, or even just building additional revenue within the space we already serve-that all represent good opportunities."
A noted 3PL industry expert said this deal does not come as a huge surprise.
"Transplace was a great idea in its time, but what happened over the years is that it became important for Werner, J.B. Hunt and the other companies to be able to do transportation management activities in house as part of their service offerings for customers," said Dick Armstrong, president and CEO of supply chain consultancy Armstrong & Associates. "The brokerage and the transportation management capabilities Transplace had was no longer a unique circumstance the owners were willing to support, because they needed that capability to be competitive themselves."
Armstrong also said that this deal is likely a good one for all involved stakeholders, with the previous ownership likely turning a profit and Transplace getting an owner that might have some other ideas for expanding service offerings. And on the customer side, Armstrong said this deal may allow Transplace to get involved with other companies to expand its services through such things as international transportation management and freight forwarding.
Transplace CEO Sanderson said that customer reaction to the deal has been very positive, due primarily to the company's management team remaining intact, coupled with the same level of service, and stronger financial backing."
-----------------------
Le communiqué de Transplace :
http://www.transplace.com/media/2009_CI_Capital_Transplace_FINAL_122209.pdf
-----------------------
Voir aussi :
http://www.transplace.com/
et
http://www.cicapllc.com/
-----------------------