TPG acquisition may take Transplace beyond North America, executive says
The sale of third party logistics provider (3PL) Transplace to private equity behemoth TPG Capital could position Transplace to expand its network beyond North America, Transplace president and COO Frank McGuigan said today.
McGuigan said although the Frisco, Texas-based company has enough opportunities on the continent to cover at least the next five years, it has discussed the possibility of expanding globally because its customers continue to inquire about it. Transplace serves the U.S., Canada, and Mexico, with an especially strong presence in Mexico.
Yesterday, TPG Capital, the private equity unit of TPG, said it would acquire Transplace from Greenbriar Capital LLC, a private equity firm that acquired Transplace in 2013. The transaction is expected to close around Sept. 30.
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