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Home » Transplace to be acquired by private equity firm
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Transplace to be acquired by private equity firm

December 23, 2009
Mark B. Solomon
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Transplace, a Dallas-based third-party logistics service provider, said today it has been acquired by CI Capital Partners LLC, a New York-based private investment firm, for an undisclosed sum.

The transaction, agreed to by Transplace's four trucking company owners, will provide Transplace with the capital needed to expand into other areas of logistics both organically and through acquisition, the company said.

Founded in 2000, Transplace is owned by J.B. Hunt Transportation Services, Covenant Transport, Swift Transportation, and US Xpress Enterprises. The owners have always been passive investors and never considered Transplace an extension of their business models, according to Transplace CEO Tom Sanderson.

Transplace, which generates more than $700 million in annual revenue, has been self-sustaining for years and does not receive any financial support from its carrier owners, Sanderson said in an interview.

Sanderson said management pushed for the transaction as they sought an opportunity to obtain the capital needed to grow the business but that the carrier owners were not going to provide. He acknowledged that prospective Transplace customers have questioned the arm's-length nature of its relationship with the carrier owners. However, a desire to clear up that confusion was not a factor in executing the transaction, he said.

Under the transaction, all of Transplace's management team, including CEO Sanderson, will remain with the company.

Transportation Trucking
KEYWORDS Covenant Transport Inc. J.B. Hunt Swift Transportation Transplace US Xpress Enterprises
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Marksolomon
Mark Solomon joined DC VELOCITY as senior editor in August 2008, and was promoted to his current position on January 1, 2015. He has spent more than 30 years in the transportation, logistics and supply chain management fields as a journalist and public relations professional. From 1989 to 1994, he worked in Washington as a reporter for the Journal of Commerce, covering the aviation and trucking industries, the Department of Transportation, Congress and the U.S. Supreme Court. Prior to that, he worked for Traffic World for seven years in a similar role. From 1994 to 2008, Mr. Solomon ran Media-Based Solutions, a public relations firm based in Atlanta. He graduated in 1978 with a B.A. in journalism from The American University in Washington, D.C.

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