US private equity firm TPG Capital has partnered with the management team of transportation and logistics provider Transplace to acquire the company from Greenbriar Equity.
Transplace was founded in 2000 and provides managed transportation, supply chain consulting and transportation management systems technology solutions, as well as truck brokerage and cross-border trade services.
It has operation centres throughout North America and its customers include manufacturers, retailers, chemical and consumer-packaged goods companies.
Frank McGuigan, President and COO of Transplace said: “We are excited to partner with TPG Capital, which has a long history of creating value across sectors, including software, technology, and industrials. 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.”
Jack Daly, Firm Partner and Global Head of Industrials and Business Services for TPG Capital said: “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. 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.”
This investment is TPG Capital’s third investment in the supply chain space within the last year and builds on the firm’s focus on technology and services as a means of improving and enhancing business efficiency.