We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2022
    • Upload Your Video
Home » Private equity investors show continued appetite for trucking fleets

Private equity investors show continued appetite for trucking fleets

Transport Investments buys SmartWay Transportation, as Buske Logistics is acquired by investors.

smartway Screen Shot 2022-03-15 at 4.43.14 PM.png
March 15, 2022
Ben Ames
No Comments

Venture capital and private equity investors continue to make waves in the transportation sector, as the well-funded trucking firm Transport Investments Inc. this week acquired SmartWay Transportation LLC, a multi-modal freight brokerage and transportation management company.

Pittsburgh-based Transport Investments is a provider of heavy haul, flatbed, and specialized transportation and logistics services throughout North America. The company is owned by Gemspring Capital, a Westport, Connecticut-based private equity firm that focuses on buying up firms in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. 

Transport Investments will now buy Overland Park, Kansas-based SmartWay, which offers mainly full and partial truckload (flatbed, reefer, specialty, and dry van) transportation brokerage and logistics services through a national network of carrier partners.

The announcement came the same day that Buske Logistics, an Illinois-based provider of contract logistics services in the packaging, food & beverage, and automotive industries, said it had been acquired by investors. Buske was bought by Fourshore Partners, a Miami-based private equity firm that focuses on lower middle market buyouts in the U.S. and Caribbean.

The terms of neither deal was disclosed.

The flurry of investment comes as trucking and transportation providers continue to enjoy a tight capacity market during the pandemic recovery period, allowing them to charge higher fees for hauling freight.

Other recent examples of investors acquiring transportation firms include the private equity-backed trucking fleet Ascend LLC, which in January launched itself as a dry van, full truckload carrier focused on middle mile freight markets, after rolling up acquisitions in recent years of the trucking companies Milan Supply Chain Solutions and J&B Services.

And in 2021, the private equity-backed transportation and logistics service provider (LSP) Pilot Freight Services expanded its e-commerce delivery capabilities by scooping up American Linehaul Corp., a non-asset based provider of expedited, less than truckload (LTL) services. That move came shortly after the venture capital-backed freight forwarder AIT Worldwide Logistics acquired Intelligent Logistics, a firm that offers freight forwarding, cartage, warehousing, and truckload brokerage services.

Also in 2021, the third party logistics providers (3PLs) Worldwide Express LLC and GlobalTranz Enterprises LLC moved to merge through an acquisition of both firms by a consortium of private equity investors. And the private equity-backed online trucking broker Uber Freight bought the Texas third party logistics provider (3PL) Transplace in a $2.25 billion deal. 

Trucking Transportation 3PL
KEYWORDS Buske Logistics Transport Investments Inc.
  • Related Articles

    Nolan Transportation Group acquired by private equity firm Gryphon Investors

    Private equity firm buys minority stake in Uber Freight for $500 million

    Uber Freight buys 3PL Transplace from its private equity owner for $2.25 billion

Benames
Ben Ames has spent 20 years as a journalist since starting out as a daily newspaper reporter in Pennsylvania in 1995. From 1999 forward, he has focused on business and technology reporting for a number of trade journals, beginning when he joined Design News and Modern Materials Handling magazines. Ames is author of the trail guide "Hiking Massachusetts" and is a graduate of the Columbia School of Journalism.

Recent Articles by Ben Ames

Lineage Logistics sees low-carbon future with linear generators

Shippers face tight market for moving goods due to high diesel prices and delays in truck manufacturing

Walmart expands orders for warehouse robotics from Symbotic

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Now's the time to be a logistics professional

  • Autonomous trucking firms launch partnerships with freight transportation providers

  • Demand for piece-picking robots gains steam

  • Report: Delivery expectations intensify

  • Empty shipping containers stack up at U.S. port depots

Now Playing on DCV-TV

4fbb31a9 f7bf 4e1f b64f f0a3e195ef0f

Cubework alleviates e-commerce logistics challenges w/ flexible warehouse options

DCV-TV 4: Viewer Contributed
E-commerce firms, small and medium enterprises (SME), and e-tailers of all sizes have been hit hard by pandemic-driven supply chain and logistics issues. Online shopping demand is at an all-time high, and never before have last-mile logistics and warehousing been more important. But actually securing affordable and...

FEATURED WHITE PAPERS

  • Guide to Proven Warehouse Solutions

  • Five common misconceptions about running a private fleet

  • Optimize AS/RS With Advanced Warehouse Execution Software

  • The Value of Genuine Parts and Service

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2022. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing