Transplace announced the acquisition of Yusen Logistics (Americas) Inc.’s intermodal marketing and over-the-road freight brokerage group Monday. The deal marks Transplace’s eighth acquisition in seven years, according to Transplace CEO Frank McGuigan.
He said the acquisition will expand Transplace’s existing intermodal capabilities and fall in line with its strategic growth strategy.
“Acquiring Yusen Logistics’ North American intermodal operations further supports Transplace’s commitment to strategic growth in order to build a competitive advantage for our company and our customers,” McGuigan said. “Our customers will benefit from the network synergy with Transplace’s current intermodal and over-the-road footprint, resulting in better opportunities for more effective execution of their intermodal shipments as well as mode conversion.”
In addition to growing its intermodal capabilities, the acquisition will expand Transplace’s geographic footprint. The company acquired Yusen’s intermodal operations with offices in Jacksonville, FL; Cincinnati, OH; Memphis, TN; Chicago, IL and Dallas, TX. They will operate as part of Transplace’s intermodal division, Celtic Intermodal, according to a media release from Transplace.
“As more shippers are looking to integrate intermodal into their transportation operations, Transplace is committed to best positioning itself to enable its customers to take advantage of the opportunities available with intermodal,” Celtic Intermodal President Doug Punzel said.“The addition of Yusen Logistics’ intermodal operations will allow our customers to better take advantage of this highly effective and efficient mode of transportation in a time of high transportation rates and capacity constraints.”
Transplace, owned by TPG Capital, provides logistics technology and transportation management services to manufacturers, retailers, and consumer goods companies.The company generates gross revenue over $3 billion from more than 1,000 customers, according to a media release.
The acquisition of Yusen will complement Transplace’s mission to deliver outstanding transportation management, intermodal, brokerage and cross-border trade management services to shippers, according to the release.
“This acquisition is growing our intermodal footprint, adding offices and very experienced people to our current intermodal business,” McGuigan told FreightWaves. “Our goal every day when we get out of bed is to service the shippers who depend on us. This is a huge win for Transplace shippers, and we are very excited to bring the Transplace business model to Yusen customers as well.”
McGuigan said Transplace’s growth strategy is working well, and he predicted the acquisitions may not be coming to an end anytime soon.
“From a growth standpoint,, we are experiencing another record sales year,” he said. “We know that will continue into 2019. We are going to continue to look into more acquisitions as well.”