Tailwind Capital has acquired the third-party automotive logistics provider from Corinthian Capital Group for an undisclosed sum, according to statements from the firm and BB&T Capital Markets, which served as financial advisor to MetroGistics.
Private equity firm Tailwind Capital has acquired MetroGistics, a technology-focused third-party automotive logistics provider, from Corinthian Capital Group, according to statements from the firm and BB&T Capital Makets, which served as financial advisor to MetroGistics in the transaction.
Financial terms of the deal were not disclosed.
Founded in 2010 and headquartered in St. Louis, Mo., MetroGistics provides customized vehicle logistics services to both OEM and remarketed automotive customers via a network of nearly 3,400 third-party carriers.
The company counts among its customers global automobile manufacturers like Ford, General Motors, Fiat Chrysler, Toyota, Nissan, BMW, Volkswagen, and KIA, as well as car rental companies Hertz, Enterprise and Avis, according to its website.
“We are excited to partner with the MetroGistics management team,” Jeff Calhoun, partner at Tailwind Capital, said of the acquisition. “The team brings extensive logistics industry experience and an impressive track record of driving growth. We look forward to building on their success.”
“MetroGistics is the leading non-asset based provider of automotive logistics services and possesses unparalleled technology in the industry,” said Hugh Rabb, managing director of the Logistics & Transportation Group at BB&T Capital Markets. “Co-founders Scott Naz and Bill Billiter have built a tremendous platform with substantial opportunities for growth.”
Private equity firm buys MetroGistics
