Yukon Partners has invested in Transport Investments, a Pittsburgh, PA-based asset-light transportation and logistics company that provides flatbed, drop-deck, specialized and heavy haul trucking and brokerage services in the U.S., Canada and Mexico. Revelstoke Capital Partners sponsored the deal in which it, Yukon and co-investors participated in the transaction. Subordinated debt was provided by Yukon.
Yukon Partners (“Yukon”) is pleased to announce its subordinated debt and equity investment in Transport Investments, Inc. (“TII” or the “Company”).
TII, headquartered in Pittsburgh, PA and formed in 1986, is an asset-light transportation and logistics company focused on providing flatbed, drop-deck, specialized and heavy-haul trucking and brokerage services in the U.S., Canada, and Mexico. The Company transports or arranges transport of heavy and over-dimensional freight for large and high growth end markets serving the energy, infrastructure, manufacturing and industrial sectors. The Company has been consistently ranked by industry publications in the top 12 flatbed and heavy specialized trucking companies in the U.S. and handles nearly 100,000 loads annually through its extensive fleet of active owner-operator trucks, drive-away operators, and approved third party carriers.
Revelstoke Capital Partners (“Revelstoke”) sponsored the transaction in which it, Yukon and other institutional co-investors made an investment in TII. Subordinated debt financing was provided by Yukon. SunTrust Bank served as administrative agent on the senior credit facility with East West Bank also participating in the transaction. SunTrust Robinson Humphrey acted as sole lead arranger and bookrunner on the transaction. Management will continue to own a meaningful interest in the Company and manage and operate the business on a day-to-day basis.
Revelstoke will provide TII strategic guidance and additional capital to accelerate its organic growth and pursue selective acquisitions while continuing to leverage the Company’s robust agent network to attract, maintain, and grow customer relationships.
“We are pleased to partner with the Revelstoke team, who share our commitment to outstanding agent and customer service,” said Doug McAdams, CEO of TII. “There is a great deal of consolidation going on in the trucking industry. With Revelstoke’s support, TII will continue to be a strong platform for growth through acquiring other trucking and logistics companies while we continue to make investments that will further strengthen our capabilities and the value-added services we bring to our agents and customers.”
“We are excited to partner with the experienced TII management team to support the Company’s continued growth in the high value specialty logistics market,” noted Simon Bachleda, Managing Partner of Revelstoke. “With its significant owner operator and agent base, we believe that the Transport platform represents a compelling opportunity to invest in an attractive niche in the transportation and logistics industry and are confident in the management team’s ability to further solidify its position as a leader in the market. TII is well-positioned to accelerate its organic growth as well as pursue acquisitions that will further expand its trucking, brokerage and third party logistics service offerings and geographic coverage.”
“We are once again excited to be partnering with the Revelstoke team,” said Michael Hall, Managing Partner of Yukon. “We are confident that Revelstoke’s logistics platform experience is a perfect complement to TII’s leading industry position and the senior management team’s expertise. These attributes will further TII’s impressive track record of growth.”
About Transport Investments, Inc.
Based in Pittsburgh, PA, TII is an asset-light transportation and logistics company that transports or arranges transport of heavy and over-dimensional freight for large and high growth end markets serving the energy, infrastructure and industrial sectors. For more information on TII, please visit www.thetii.com.
About Yukon Partners
Yukon Partners is an independent and unaffiliated mezzanine finance firm primarily serving middle market private equity sponsored business transactions with a typical investment range of $10 to $40 million in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, public-to-private buyouts, and refinancings. Yukon Partners is based in Minneapolis, Minnesota. For more information, please visit www.yukonpartners.com.
About Revelstoke Capital Partners
Revelstoke is a private equity firm formed by experienced investors who strive to partner with management teams to execute on a disciplined organic and acquisition strategy to build industry-leading companies. Revelstoke’s Managing Partners, Mark King, Dale Meyer, and Simon Bachleda, have completed over 100 platform and add-on acquisitions, representing over $5 billion of total enterprise value. For more information, please visit www.revelstokecp.com.