Gemspring Capital Management has made an investment in Pittsburgh-based Transport Investments, a provider of heavy haul, flatbed and specialized transportation and logistics services. No financial terms were disclosed.
WESTPORT, Conn., June 10, 2021 /PRNewswire/ — Gemspring Capital Management LLC (“Gemspring”), a middle-market private equity firm, is pleased to announce that an affiliate has invested in Transport Investments, Inc. (“Transport” or the “Company”) alongside its executives.
Transport is a leading asset-light provider of heavy haul, flatbed, and specialized transportation and logistics services throughout North America. Over its 40-year history in the specialty freight industry, Transport has cultivated deep relationships with owner-operators and carriers, developed a strong reputation with industrial shippers, and established a nationwide terminal network.
R. Bruce McAdams, President and CEO of Transport, said: “We are excited by this investment and relationship with Gemspring. We’ve been impressed by the depth of the firm’s capabilities and knowledge of the industries we serve. We share a common focus on continuing to build on Transport’s legacy by expanding its network and the breadth of value-added services available to customers.”
Geoff Broglio, Managing Director at Gemspring, said: “We believe the specialty and broader freight and logistics markets are poised for continued growth. Transport is well positioned as shippers look to consolidate their business with scaled players that have deep freight expertise and nationwide capacity. We are excited to partner with Bruce and the rest of the team as Transport continues to maintain exceptional service, expand its capabilities, and pursue strategic acquisitions.”
About Transport Investments, Inc.
Transport is an asset-light transportation and logistics company. As one of the largest carrier groups in the United States and Canada, Transport offers heavy haul, flatbed, specialty and van transportation, brokerage and logistics services. The Company currently handles an annual volume of over 250,000 loads and is positioned to capture substantial growth through its network of nationwide terminals, owner-operators and carriers. For more information, visit www.transportinvestments.com.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.1 billion of capital under management, provides flexible capital solutions to lower middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. For more information, visit www.gemspring.com.