Transplace, a third-party logistics (3PL) and management services firm, has been acquired by CI Capital Partners LLC, a New York- based private investment firm. Transplace had been owned in part by founding partners J.B. Hunt Transport Services, Swift Transportation, U.S. Xpress Enterprises and Covenant Transportation Group, Inc.
Transplace provides full transportation outsourcing, carrier contracting and negotiation, and freight brokerage services and generated revenues exceeding $700 million last year.
“We are pleased to complete a transaction that will provide Transplace with the capital to continue its internal growth and take advantage of attractive acquisition opportunities,” said Transplace CEO Tom Sanderson. “CI Capital Partners has a long track record of growing businesses, while building value and creating attractive opportunities for employees.”
“Transplace is an excellent growth platform in the 3PL and transportation management sector,” said Joost Thesseling, principal at CI. “We are very excited to have the opportunity to partner with Tom Sanderson, (executive vp & COO) George Abernathy and the entire Transplace management team.
“The market for outsourced transportation is very large and fragmented, and we believe Transplace is well positioned to continue to expand its 3PL and freight brokerage businesses organically as well as through strategic acquisitions,” he added.