Greenbriar Equity Group LLC, a private equity firm focused on making investments in the global transportation and logistics industries, and Transplace Holdings, Inc., a leading provider of transportation management services and logistics technology solutions, today announced a definitive agreement whereby TPG Capital, the global private equity platform of alternative asset firm TPG, will acquire the Company. The transaction is expected to close in late-September. Terms of the transaction will not be disclosed.
Transplace is the largest managed transportation service provider in North America, generating annual gross revenue in excess of $1.8 billion from more than 1,000 customers. As a non-asset based logistics services provider, it offers manufacturers, retailers, chemical and consumer packaged goods companies the optimal blend of logistics technology and transportation management services.
"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," said Jack Daly, firm partner and global head of industrials and business services for TPG Capital. "Transplace is providing an expansive, high-quality, customizable solution for managing today's supply chain. The company's leadership and 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."
Jill Raker, Managing Partner of Greenbriar, said, "We want to thank the entire Transplace management team for an outstanding partnership. It's been a pleasure supporting the Company through a period of tremendous expansion and we believe Transplace's future has never been brighter."
Transplace CEO Tom Sanderson added, "We have enjoyed working with the Greenbriar team, whose deep knowledge of our business and extensive network of industry relationships have helped create significant value for all stakeholders. Our partnership with Greenbriar enabled Transplace to enhance our capabilities through four successful acquisitions and has positioned the Company to capitalize on organic and strategic opportunities in our next chapter of growth."
Transplace and Greenbriar were advised by Morgan Stanley & Co. LLC and Hughes, Hubbard, & Reed LLP. TPG was advised by Kirkland & Ellis LLP.
About Greenbriar Equity Group
Greenbriar Equity Group LLC, a private equity firm with over $2.5 billion of committed capital, focuses exclusively on the global transportation industry, including companies in logistics and distribution, freight and passenger transport, aerospace and defense, automotive, and related sectors. Greenbriar invests with proven management teams who are interested in being significant equity owners in their companies as well as with corporate partners who are interested in raising capital. Greenbriar's partners bring many decades of experience at the highest levels within the transportation industry. Additional information may be found at www.greenbriarequity.com.
About Transplace
Transplace is a North American non-asset based logistics services provider offering manufacturers, retailers, chemical and consumer packaged goods companies the optimal blend of logistics technology and transportation management services. The company is the premier provider of managed transportation, consulting & TMS solutions; and intermodal, truck brokerage, and cross-border trade services. With operations centers located throughout North America, Transplace delivers integrated solutions tailored to meet in-country and cross-border supply chain needs. The company is recognized among the elite 3PLs for its proven ability to deliver both rapid return on investment and consistent value to a customer base ranging from mid-market shippers to Fortune 500 companies. To learn more about Transplace's North American logistics services, visit www.transplace.com.
About TPG Capital
TPG is a leading global alternative asset firm founded in 1992 with approximately $72 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG's investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across its investment strategies and the performance of its portfolio. For more information, visit www.tpg.com.
