Chicago-based third-party logistics provider Redwood Logistics has been sold by private equity firm CI Capital Partners to AEA Investors. Financial terms of the transaction were not disclosed.
AEA Investors is an investment firm with over $15 billion in assets under management and a 50-plus-year history of partnering with middle market companies to accelerate growth.
For the past four years, Redwood has been a portfolio company of CI Capital.
Reaction
MARK YEAGER, CEO, Redwood Logistics: “We are extremely enthusiastic to be joining the AEA family. This additional investment accelerates our organization’s strategic growth plan, all while retaining and underscoring our core values, unique Redwood culture and winning team. Our customers, carriers, vendors and employees will benefit greatly from this partnership as it enables us to accelerate the kind of aggressive innovation that led us to the development and launch of our Logistics Platform as a Service operating model.”
JUSTIN de LA CHAPPELLE, partner, AEA: “Redwood’s management team has built an exceptional business, performing at the top of the freight industry and innovating ahead of the competition. We are very excited about Redwood’s future, and we look forward to partnering with the Redwood team to help further expand its offerings and drive ongoing technology innovation.”
JOOST THESSELING, managing director, CI Capital: “CI Capital is proud to have collaborated with Mark Yeager and the entire Redwood team to support the company’s exceptional growth during a period of immense technological change in the logistics industry. Redwood’s exceptional management team, scale across multiple service offerings and unique suite of technology tools position the company well for continued growth in this dynamic market. We look forward to following Redwood’s progress and accomplishments in the future.”
FreightTech 25: Redwood Logistics
Redwood Logistics ranked No. 22 in the FreightWaves FreightTech 25 for 2022 that was revealed last month.
The FreightTech awards celebrate innovation and disruption within the freight industry.
“It’s an incredible honor to be featured alongside our freight technology peers and partners in the FreightTech 25,” said Yeager. “This year’s launch of LPaaS enabled us to reveal our current and future vision for Redwood as we grow our ecosystem of supply chain technologies and logistics services.”
Earlier this year, Redwood launched its Logistics Platform as a Service, bridging the gap between logistics and technology through an interconnected and open platform that allows for effortless scaling and logistics network design.