TransForce, a recruiting and employment services provider specializing in commercial truck drivers, has acquired The CDL School. This is the 8th add-on acquisition for the company since being acquired by Palladium Equity Partners in July 2015.
The CDL School is a full-service truck driving school that provides training for individuals to obtain their commercial driver’s license. The company’s programs range in length from a few hours to pass an exam (CDL License Training courses) to several weeks to obtain employment (certificate and diploma programs).
CDL School also provides vocational training and employment training for individuals who are seeking employment within the ground transportation industry. The company was founded in 1963 and is headquartered in Miami (www.cdlschool.com).
In 2012, the school launched a military hiring program, Troops Into Transportation, to help service members and veterans find employment in the transportation industry. “We are honored to offer vocation education and employment opportunities to those who have served our country,” said Albert Hanley III, President and CEO of The CDL School. “It is rewarding to find a solution that concurrently provides answers for the ever-present truck driver shortage with the employment need for service members and veterans.”
TransForce is a provider of specialized staffing, recruiting, and workforce management services to the commercial transportation industry. The company supplies qualified commercial truck drivers to third-party logistics companies, private fleets, and trucking companies. TransForce also offers online driving courses, online recruiting solutions, Department of Transportation (DOT) compliance services that include DOT audit preparedness, file qualification services and training, and federal motor carrier regulation education. TransForce operates 47 branches across 24 states and dispatches more than 2,500 drivers on a daily basis. The company was founded in 1991 and has operations across North America with a headquarters in Alexandria, VA (www.transforce.com).
With the purchase of the CDL School, TransForce will now offer a full arrange of training and education programs. “The CDL School will be an exciting addition to our company and to our future, and a high growth service line for TransForce,” said David Broome, President and CEO of TransForce. “This acquisition will incredibly enhance and transform our solutions for drivers and carriers. We will now be able to offer a full life cycle for the driver from education to employment, to safety and compliance, and returning to education for continued training throughout their career.”
Palladium invests from $50 million to $150 million of equity in companies that have $10 million to $75 million of EBITDA. Sectors of interest include consumer, services, industrials and healthcare. Palladium has a focus on companies that operate in the US Hispanic market. Since its founding in 1997, Palladium has invested over $2 billion of capital in more than 33 platform investments and completed over 125 add-on acquisitions. The firm is based in New York (www.palladiumequity.com).
© 2019 Private Equity Professional | January 22, 2019