TPG Capital Partners with Transplace
Strategic capital will help to expand and enhance company’s growing platform
Transaction marks firm’s third investment in the supply chain space this year
Fort Worth, Texas, San Francisco, and Frisco, Texas – August 14, 2017 – TPG Capital, the global private equity platform of alternative asset firm TPG, announced today that it has entered into a definitive agreement to acquire Transplace, the leading provider of transportation management and other third-party logistics services. TPG is partnering with company management to purchase Transplace from Greenbriar Equity Group (Greenbriar). The transaction is expected to close in September and is subject to customary closing conditions, including regulatory approvals. Additional terms of the transaction were not disclosed.
Founded in 2000, Transplace is North America’s premier provider of managed transportation, supply chain consulting and transportation management systems (TMS) technology solutions, as well as other intermodal, truck brokerage, and cross-border trade services. Providing manufacturers, retailers, chemical and consumer-packaged goods companies with the optimal blend of logistics technology and transportation management services, Transplace delivers integrated solutions tailored to meet customers’ in-country and cross-border supply chain needs. The company is recognized within the industry for its ability to deliver consistent value to a customer base of more than 1,000 mid-market shippers and Fortune 500 companies.
“We are excited to partner with TPG Capital, which has a long history of creating value across sectors, including software, technology, and industrials," said Frank McGuigan, President & COO, Transplace. “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.”
Transplace CEO Tom Sanderson added, “We have enjoyed working with Jill Raker and the Greenbriar team. Our partnership with them enabled Transplace to significantly enhance our capabilities through four successful acquisitions in the last four years, including leading cross-border freight management company, Laser Ramos Gil; U.S. managed transportation service providers M33 Integrated and Logistics Management Solutions; and Canadian transportation management provider Lakeside Logistics. Over our history, we have completed seven transactions and with TPG Capital, we intend to supplement our strong organic growth track record with strategic acquisitions.”
“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, 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. We are excited to partner with Tom, Frank, and the Transplace team to accelerate growth, both organically and through acquisition.”
Daly joined TPG in 2016 to lead TPG Capital’s investments in industrials and business services. Prior to joining TPG, Daly served as a Partner in the Merchant Banking Division at Goldman Sachs & Co. as the Head of Industrials Private Equity in the Americas. Relevant to Transplace, Daly has significant experience with investments in the logistics and business services sectors.
This investment marks TPG Capital’s third investment in the supply chain space within the last year, building on the firm’s focus on technology and services as a means of improving and enhancing business efficiency. In May, TPG Capital partnered with LLamasoft, a global leader in supply chain modeling and design software. This partnership followed the firm’s earlier investment in Transporeon, a leading European cloud-based business network for industrial logistics.
Transplace was advised by Morgan Stanley & Co. and Hughes, Hubbard, & Reed LLP. TPG was advised by Kirkland & Ellis LLP.
TPG is a leading global alternative asset firm founded in 1992 with more than $73 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.
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.
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.