Equity Group Acquires Transplace Logistics Firm

Transplace, a provider of third-party logistics, intermodal and truck brokerage services, said in a recent news release that it’s been acquired by New York-based private investment firm Greenbriar Equity Group LLC.

Based in Frisco, Texas, Transplace was formed in 2000 by six trucking companies including Lowell-based J.B. Hunt Transport Services Inc. J.B. Hunt maintained majority ownership until 2009, when Transplace was acquired by private investment firm CI Capital Partners LLC of New York.

Greenbriar acquired Transplace from an affiliate of CI Capital Partners, the news release stated. The terms of the transaction were not disclosed.

Generating more than $1.3 billion in annual revenue, Transplace has more than 700 customers. Its Lowell office remains its largest operations center, with about 275 of the company’s 550 or so employees. That office mainly serves suppliers to Wal-Mart Stores Inc., and counts among its clients such heavyweights as Microsoft Corp., Del Monte Foods and AutoZone.

Transplace CEO Tom Sanderson said in the release that the company’s partnership with CI Capital Partners allowed it to supplement its organic growth with the acquisitions of Celtic International, SCO Logistics and Canadian firm Torus Freight Systems, which is now Transplace Canada.

Jill Raker, Greenbriar’s managing director, said in the release that Transplace has “an outstanding leadership team, an excellent customer base and a differentiated set of logistics solutions.”

By partnering with Transplace’s management team, she said, “we expect to further grow the company across the full range of its service offerings to continue providing value to existing and new customers.”