Palladium Equity Partners has acquired Alexandria, Virginia-based TransForce Inc, a staffing provider for the commercial transportation sector. No financial terms were disclosed.
NEW YORK and ALEXANDRIA, Va., July 6, 2015 /PRNewswire/ — Palladium Equity Partners, LLC (along with its affiliates, “Palladium”), a private investment firm with over $2.0 billion in assets under management, today announced that an affiliated fund has acquired TransForce, Inc. (“TransForce” or the “Company”), a specialized staffing and recruiting company that provides qualified commercial truck drivers to third-party logistics companies, private fleets, and trucking companies. Headquartered in Alexandria, VA, the Company operates 47 branches across 24 states and dispatches more than 2,500 drivers to its customers on a daily basis.
“We believe TransForce has established a differentiated position in the industry through its broad geographic footprint, full service offering, strong safety track record, regulatory expertise, and excellent customer service,” said Luis Zaldivar, a Managing Director of Palladium. “My partners and I look forward to supporting the growth of TransForce into new geographies through expected de novo branches and acquisitions.”
“We are excited that TransForce has become a member of the Palladium family,” said David Broome, President and CEO of TransForce.
“Palladium shares our vision for TransForce and has significant experience providing companies with the necessary resources to accelerate growth. With this partnership in place, we believe we are well positioned to tap into strategic opportunities to better serve our customers.”
Terms of the investment were not disclosed.
About TransForce, Inc.
TransForce is a provider of specialized staffing, recruiting, and workforce management solutions to the commercial transportation industry. The Company supplies qualified commercial truck drivers to third-party logistics companies, private fleets, and trucking companies. TransForce operates 47 branches across 24 states and dispatches more than 2,500 drivers on a daily basis. For additional information, please visit www.transforce.com or call (703) 838-5580.
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with over $2.0 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $1.0 billion of capital in more than 20 platform investments and over 50 add-on acquisitions. The firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. The principals of the firm have significant experience in financial services, business services, food, healthcare, industrial and media businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium is based in New York City. For more information, visit www.palladiumequity.com.