Transplace Joins Forces With Celtic International
Leading 3PL and IMC Combine Businesses to leverage offerings and broaden platforms
Transplace, a Dallas-based third party logistics provider, and Celtic International, an intermodal marketing company based in Chicago, have combined to form a leading North American logistics provider. The combined company has revenue in excess of $1B and a major presence in transportation management, logistics technology, intermodal services and truck brokerage. The transaction closed today.
Tom Sanderson, Transplace CEO said: "We are excited about this strategic combination of our businesses. Led by Richard Hyland, who has a long track record of success in intermodal transportation, Celtic has carved out a significant position in the intermodal industry by providing customers unique service driven solutions. We see enormous growth opportunities in intermodal transportation as truckload capacity tightens and fuel prices remain high. We also expect to find opportunities for the current Transplace customers with Celtic offerings as well as offering Transplace's logistics solutions to certain Celtic customers." Mr. Hyland will remain President of Celtic, which will become a stand-alone division of Transplace. Mr. Sanderson will lead the combined entity as CEO.
"The combination with Transplace is a great result for Celtic customers and employees," said Richard Hyland, President of Celtic International. "Opportunities for growth and expansion are abundant given Transplace's extensive customer following. I look forward to leading the intermodal business for many years to come. My leadership team and I are excited to work together with Transplace." All of the Celtic senior management team are joining and investing in the combined entity, and Mr. Hyland will join the Transplace board of directors.
CI Capital Managing Director Joost Thesseling said, "The combination with Celtic is an important step in our strategy of growing Transplace through organic growth and strategic acquisitions. We are excited to have the opportunity to support Tom Sanderson and Rich Hyland and their respective management teams in combining their operations to enhance the already significant organic growth opportunities of both companies."
About Transplace
Transplace is a non-asset based third party logistics (3PL) provider offering manufacturers, retailers and consumer packaged goods companies the optimal blend of logistics technology and transportation management services. From complete logistics management outsourcing to intelligent transportation management system (TMS) and supply chain network planning and design to high-quality brokerage services, Transplace has proven the ability to deliver both rapid return on investment and consistent value to customers. The company is recognized among the elite global 3PLs by a customer base that includes many of the largest shippers in the world. For more information, visit www.transplace.com.
About Celtic International
Celtic International is an industry leader in equipment management, systems and customer service. As one of North America's largest Intermodal companies, Celtic provides the perfect balance between operations and pricing for customers of all types and sizes. Celtic provides highway brokerage services throughout the United States, Canada and Mexico. Celtic produces creative and innovative customer driven solutions providing competitive advantages. Celtic's attention to detail and award winning execution has been the foundation of their success. The company has been recognized by many customers as Transportation provider of the year and a strategic transportation partner. For more information, visit www.celticintl.com.
About CI Capital Partners
CI Capital Partners is a North American private equity firm focused on consolidations of leading middle market businesses. The firm targets industries that are ripe for consolidation and seeks to substantially scale businesses through organic growth and acquisitions. Since its founding in 1993, the firm and its portfolio companies have made over 95 acquisitions representing over $5B in enterprise value. CI Capital's existing portfolio consists of companies which collectively generate annual revenue of approximately $4.0B, EBITDA of $350M, and have more than 14,000 employees. For more information, visit www.cicapllc.com.
SOURCE: Transplace & Celtic International