TPG Capital to Acquire a Majority Stake in Leading Cloud-based Logistics Platform Transporeon
Experienced, global software and technology investor and leading, European cloud-based logistics platform company partner to drive growth and product innovation
Fort Worth, Texas; San Francisco; and Ulm, Germany – August 2, 2016 – Transporeon, a leading European cloud-based business network for industrial logistics, today announced that TPG Capital, the North-American- and European-focused private equity platform of leading global alternative asset firm TPG, has entered into a definitive agreement to acquire a majority interest in Transporeon from The Riverside Company and other shareholders. The transaction is expected to close in the third quarter and is subject to customary closing conditions, including regulatory approval.
"Since inception, our goal as a company has been to enable seamless transactions for our customers through a highly-quality, connected, and innovative network," said Peter Förster, co-founder of Transporeon. "We're very proud of the scale that we've achieved to-date."
"Riverside has been essential to our growth throughout the last five years while we have expanded into new geographies and enhanced our product offerings," said Marc Simon, co-founder of Transporeon. "We thank them for their partnership and look forward to building on this momentum with TPG."
This transaction builds on TPG's track record of partnering with companies that are embracing software and technology to make business easier and more efficient across a range of industries. TPG has a long history of investing in both platforms and software companies, including Advent Software, Airbnb, Eze Software, IMS Health, Sabre, Uber, and Vertafore. Additionally, the firm has partnered with a wide range of companies in Europe, including digital education company TES Global, niche IT recruitment firm Frank Recruitment Group, specialist owner, developer, and manager of European logistics properties P3, and leading Russian retailer Lenta.
TPG is a leading global private investment firm founded in 1992 with over $70 billion of assets under management and offices in Austin, Beijing, Dallas, Fort Worth, Hong Kong, Houston, Istanbul, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, São Paulo, Singapore, and Tokyo. 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 the investment strategy and performance of their portfolio. For more information, visit www.tpg.com.
About The Riverside Company
The Group offers three solutions: TRANSPOREON for transportation execution, TICONTRACT for strategic sourcing of logistics services and MERCAREON for time slot management in retail distribution centers. The platform links over 1,000 shippers, 57,000 carriers and 100,000 users in over 100 countries. Established in the year 2000 in Germany, the TRANSPOREON Group is the European market leader, with fast growing presences in North America and Asia.