Gemspring Capital Management LLC announced Thursday that an affiliate has invested in Pittsburgh-based Transport Investments Inc., an asset-light transportation and logistics company.
The amount of Gemspring’s investment was not disclosed.
The investment was motivated by continued growth in “the specialty and broader freight and logistics markets,” according to Geoff Broglio, managing director at Gemspring.
“Transport Investments is well positioned as shippers look to consolidate their business with scaled players that have deep freight expertise and nationwide capacity,” Broglio said in a statement.
As one of the largest carrier groups in the U.S. and Canada, Transport Investments offers heavy haul, flatbed, specialty and van transportation, brokerage and logistics services. The company handles an annual volume of more than 250,000 loads through its network of nationwide terminals, owner-operators and carriers.
“We’ve been impressed by the depth of Gemspring’s capabilities and knowledge of the industries we serve,” R. Bruce McAdams, president and CEO of Transport Investments, said in a statement. “We share a common focus on continuing to build on Transport’s legacy by expanding its network and the breadth of value-added services available to customers.”
Gemspring Capital is a Westport, Connecticut-based private equity firm with $1.1 billion of capital under management. The firm provides capital solutions to lower middle-market companies.
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