Today’s Top Supply Chain and Logistics News From WSJ
Transplace is gaining new ownership with deeper pockets as the business looks to raise its profile in the logistics market. Private-equity firm TPG Capital is buying the Texas-based operator from Greenbriar Equity Group LLC in a deal worth close to $1 billion that will help boost Transplace’s growth ambitions. Company President Frank McGuigan tells WSJ Logistics Report’s Jennifer Smith those plans are focused on building up the transportation management service that now makes up more than two-thirds of Transplace’s revenue, as well as investment in customs clearance and border management that will build the company’s international distribution capability. TPG is far bigger than Greenbriar and keen on the growth, some driven by acquisitions, that has helped the business more than double its revenue in five years. The company is also operation in a market that’s suddenly looking livelier, with freight demand in an apparent rebound and more operators and financial companies talking about mergers and acquisitions.
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