The transaction is expected to close in late-September, but financial terms of the deal will not be disclosed, according to a joint statement from the companies.
Greenbriar Equity Group LLC is selling Transplace Holdings, Inc. to TPG Capital, the companies said in a joint statement Monday.
The transaction is expected to close in late-September, but financial terms of the deal will not be disclosed.
Transplace is a non-asset based transportation management services and logistics technology solutions provider. The company is based out of Frisco, Texas and has operations centers throughout North America.
TPG Capital is the private equity platform of global alternative asset firm TPG. TPG, which is headquartered in Fort Worth and San Francisco, claims to have more than $73 billion of assets under management. Its investment platforms are across a variety of asset classes, including private equity, growth venture, real estate, credit and public equity. Greenbriar is a Rye, N.Y.-based private equity firm with over $2.5 billion of committed capital, focusing exclusively on the global transportation industry.
Greenbriar and Transplace were advised on the sale by Morgan Stanley & Co. LLC and Hughes, Hubbard, & Reed LLP; while TPG was advised by Kirkland & Ellis LLP.
Overall, the deal marks TPG Capital’s third investment in the supply chain space within the last year, TPG said. In May, TPG Capital partnered with supply chain modeling and design software provider LLamasoft, and in August 2016, it entered into a definitive agreement to acquire a majority interest in transportation management software provider Transporeon.
Looking back, Transplace had initially been acquired by Greenbriar in 2013 from an affiliate of CI Capital Partners, which joined with Transplace management in 2009 to purchase the company from its original owners, Greenbriar and Transplace previously reported.
TPG Capital snags Transplace from Greenbriar Equity Group
