PS Logistics, a portfolio company of One Equity Partners, has acquired Celadon Logistics, from publicly-traded Celadon Group. The buy of the company was completed through PS Logistics’ subsidiary TA Services.
Celadon Logistics is a third-party logistics provider of managed transportation, supply chain and warehousing services. The company currently operates 4 logistics offices and 11 warehouses across 7 states with over 500 employees. Celadon Logistics, with annual revenues of approximately $150 million, is headquartered in Indianapolis, IN (www.celadonlogistics.com).
TA Services is a third-party logistics provider of trucking and transportation management services, brokerage, and on-site materials handling and warehousing. The company, led by CEO Scott Schell, is headquartered in Mansfield, TX (www.taservices.com).
“The acquisition of Celadon Logistics widens our scope of services with additional transportation and warehousing 3PL solutions. As one of the nations’ largest flatbed service providers, we will also gain access to over 2,800 dry van and temperature-controlled trucks throughout North America via a long-term capacity solutions partnership with Celadon Group,” said Brian Barze, CFO of PS Logistics.
PS Logistics is a provider of flatbed transportation services including asset-based transportation, brokerage, 3PL and supply chain services primarily in the Southeast, the Northeast, Texas, California, and the Midwest. The company was founded in 2004 and is headquartered in Birmingham, AL (www.pslogistics.com).
“The addition of Celadon Logistics’ dry van brokerage expertise and complementary customer base makes TA Services a leading logistics business in North America,” said Greg Belinfanti, a senior managing director at One Equity Partners. “We’re excited to support Scott Schell and his team with this strategic acquisition and will continue to support the entire PS Logistics organization as it continues to evolve its “asset-right” model.”
The acquisition of Celadon Logistics is PS Logistics’ sixth acquisition since One Equity Partners’ investment in March 2018. The other add-on acquisitions were Valdosta, GA-based Travis Booth (2018); Lawtey, FL-based D. Mosley Trucking and D. Mosley Logistics Services (2018); Mt. Pleasant, TN-based Robinette Trucking (2018); Granite City, IL-based Riechmann Transport (2019); and Middleburg, FL-based J. Carter Trucking (2019).
“Our partnership with One Equity Partners has created a market-leading company that provides our customers with exceptional high-quality service and value, enabling us to fully manage bids, secure capacity, and handle warehouse needs,” said Mr. Schell. “The combined business will generate significant cross-selling opportunities and provide our long-term carriers and employees the opportunity to work for one of the industry’s leading 3PL providers.”
One Equity Partners is a middle-market private equity firm that invests in industrial, healthcare, and technology companies that are based in North America and Europe. The firm, founded in 2001, spun out of JP Morgan in 2015 and has offices in New York, Chicago and Frankfurt (www.oneequity.com).
Celadon Group (OTC: CGIP), the seller of Celadon Logistics, provides long haul, regional, local, dedicated, intermodal, and freight service across the United States, Canada, and Mexico. The company is headquartered in Indianapolis, IN (www.celadongroup.com).
© 2019 Private Equity Professional | April 16, 2019
Harkness Capital has made an investment in Kane Is Able, a third-party logistics provider.
Harkness Capital invests in lower middle market service-oriented and niche-manufacturing companies with a specific interest in the third-party logistics sector. The New York-based firm was founded in 2014 and is led by partners Ted Dardani, Harris Newman and Zuher Ladak (
TPG Capital has completed its acquisition of Transplace, a provider of transportation management and other third-party logistics services, from Greenbriar Equity Group which acquired the company in May 2013 from CI Capital Partners.
Transplace, with annual revenues of approximately $1.8 billion, is a provider of non-asset based third party logistics, intermodal and truck brokerage services. The company provides full transportation outsourcing, carrier contracting and negotiation, and freight brokerage services to more than 1,000 mid-market shippers and Fortune 500 companies. The company, led by President and COO Frank McGuigan, was founded in 2000 and is based in Frisco, TX (
TPG was founded in 1992 and makes investments throughout North America, Europe, Asia and Australia. Sectors of interest include industrials, retail, consumer, financial services, travel and entertainment, technology, media and communications, and healthcare. In May 2016, TPG held a final close of its latest fund, TPG Partners VII, LP, with $10.5 billion in commitments. The firm has offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore (
Greenbriar Equity Group invests from $50 million to $150 million per transaction in the global transportation industry, including companies in aerospace & defense, automotive, freight & passenger transport, logistics & distribution, and related sectors. The firm manages $2.5 billion of committed capital and is based in Rye, NY (
TPG Capital has signed an agreement to acquire Transplace, a provider of transportation management and other third-party logistics services, from Greenbriar Equity Group which acquired the company in May 2013 from CI Capital Partners. The acquisition of Transplace is TPG’s third investment in the supply chain space in the past twelve months.
Transplace, with annual revenues of approximately $1.8 billion, is a provider of non-asset based third party logistics, intermodal and truck brokerage services. The company provides full transportation outsourcing, carrier contracting and negotiation, and freight brokerage services to more than 1,000 mid-market shippers and Fortune 500 companies. The company, led by President and COO Frank McGuigan, was founded in 2000 and is based in Frisco, TX (
“We want to thank the entire Transplace management team for an outstanding partnership. It’s been a pleasure supporting the company through a period of tremendous expansion and we believe Transplace’s future has never been brighter,” said Jill Raker, Managing Partner of Greenbriar.
