Middle market buyout and growth equity investor Ridgemont Equity Partners will acquire and recapitalize the third-party logistics provider, according to a joint statement from the companies.
Ridgemont Equity Partners has agreed to acquire and recapitalize third-party logistics provider Unishippers Global Logistics, according to a joint statement from the companies.
Piper Jaffray & Co. served as financial advisor to Unishippers. K&L Gates LLP served as Ridgemont’s legal counsel. Financing was provided by Antares Holdings LP, NXT Capital, LLC and TIAA-CREF.
Financial terms of the deal were not disclosed.
Charlotte-based Ridgemont Equity is a middle market buyout and growth equity investor, while Unishippers primarily provides third party logistics services to small and medium-sized businesses.
Founded in 1987 and is headquartered in Salt Lake City, Utah, Unishippers offers small package and heavy freight services, including less than truckload, full truckload and air freight through nearly 300 franchise locations and affiliates across the United States. The 3PL partners with over 30 regional and national shipping carriers, including UPS, YRC Freight, Estes, and Saia.
“Our success in serving 50,000 small and medium-sized businesses has been driven by our incredible franchisees, first rate carrier partners and strong executive leadership,” Unishippers President Kevin Lathrop said of the deal. “The recapitalization by Ridgemont will propel the Company’s growth and ability to expand our current service offering and geographic footprint.”
“Logistics has been a core focus area for Ridgemont over the past several years and we’re very pleased to partner with the management team of Unishippers,” added Rob Edwards, partner at Ridgemont. “The company is well positioned for continued growth through utilization of its market leading technology, strong national franchise network and strategic carrier relationships to provide the most attractive shipping options for small and medium-sized businesses.”
Investment firm acquires Unishippers Global Logistics
