CI Capital Partners has partnered with Mark Yeager, the former president and chief operating officer of Hub Group, to pursue a platform company in the fragmented transportation and logistics sector.
CI Capital has direct experience in the transportation and logistics sector having acquired and sold Transplace, a provider of non-asset based third party logistics, intermodal and truck brokerage services, and numerous other companies in the distribution sector. CI Capital sold Transplace, which at that time had annual revenues of approximately $1.3 billion, to Greenbriar Equity Group in June 2013.
“I am pleased to announce this new partnership with CI Capital,” said Mr. Yeager. “I believe that now is an attractive time to pursue a platform company investment in the logistics industry, given continued outsourcing by shippers and the dynamic capacity environment. CI Capital’s experience in the logistics industry, coupled with its commitment to and history of supporting management teams to build bigger businesses through numerous add-on acquisitions and other growth initiatives, made the firm an ideal partner.”
Most recently, Mr. Yeager was the president and chief operating officer of Hub Group, a transportation management company offering intermodal, brokerage and logistics services. Mr. Yeager spent 23 years at the company, serving in various roles including general counsel, division president, and president of field operations. In October 2015, Mr. Yeager resigned from Hub Group’s board of directors, two months after stepping down from his post as president and chief operating officer of the company. Mr. Yeager is the son of Hub Group founder Phillip Yeager, and his brother, David Yeager, the current chairman and chief executive officer of Hub Group.
“We are thrilled to have the opportunity to form a partnership with Mark Yeager, who has an impressive track record in the logistics industry,” said Joost Thesseling, Managing Director at CI Capital.
CI Capital Partners invests from $25 million to $100 million in middle market companies in the following sectors: business services, consumer services, distribution, government services and defense, and light manufacturing. Since its founding in 1993, CI Capital and its portfolio companies have made more than 190 acquisitions representing over $8 billion in enterprise value. The firm is based in New York (www.cicapllc.com).
© 2016 Private Equity Professional • 8-9-16
