Corinthian Capital, a New York-based buyout firm, has invested in Precision Motor Transport Group LLC, an Okemos, Mich.-based automotive transport services business for luxury automobile carriers. Deal terms were undisclosed.
Corinthian Capital Group, LLC, a New York-based private equity firm specializing in investments in small and middle market companies, has announced that it has partnered with the management of Precision Motor Transport Group, LLC (PMTG), to complete a recapitalization of the business. The company, headquartered in Okemos, Michigan, is a leading specialized carrier providing premium automotive transport services dedicated to efficiently delivering damage-free and on-time service to the world’s premier luxury brand automobile manufacturers. PMTG maintains a company-owned tractor trailer fleet of specialized automobile carriers and provides superior delivery with real-time satellite tracking and bi-directional driver-based digital logistics communications. As a leader in the carhauling industry, the company continues to develop new technologies in enclosed carhaulers, air-ride suspension, soft tie down systems, screw lift systems, aerodynamic nose cones and tail cones, hydraulic retractable ramp systems, and sliding curtains.
Dallas Knepp, Chief Operating Officer of PMTG said, “We are excited about this partnership. Our seasoned management team will be able to continue to operate the company, continuing to improve our operations and services, just as we always have. Having Corinthian as a partner will provide us with additional financial expertise and capital to continue expanding our business.” The current management of PMTG will retain day-to-day control of the business.
“PMTG has positioned itself as the dominant provider of enclosed automotive transportation services to the marquee luxury automotive brands in the United States. The company services a market that has historically grown at rates that outpace the general automotive industry,” stated Jim McNair, Senior Managing Director of Corinthian Capital. “This growth, driven by demographics as well as increasing luxury car manufacturers’ market share, should sustain the company’s leading position in its market niche and propel it to new sales levels.”
Corinthian Capital was founded in 2005 to invest in small and middle market companies located primarily in North America. Its principals have completed over 50 acquisitions with a combined total value of over $1.5 billion. Corinthian Capital seeks to invest in unique manufacturing, distribution, and service businesses with sales between $50 million and $250 million.
For more information about Precision Motor Transport Group visit www.pmtghome.com.
For more information about Corinthian Capital visit www.corinthiancapital.com.