Thompson Street Capital Partners has made an investment in Memphis-based Green Mountain Technology LLC, a provider of parcel spend management solutions. No financial terms were disclosed. Madison Park Group served as financial advisor to GMT while Weil, Gotshal & Manges LLP provided legal counsel to TSCP.
ST. LOUIS (February 24, 2020) – Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today a growth investment in Green Mountain Technology, LLC, (GMT) a Memphis-based provider of parcel spend management solutions. Terms of the transaction were not disclosed.
Founded in 1999, GMT (greenmountaintechnology.com) partners with the world’s largest parcel shippers to plan, execute and monitor high-volume parcel networks. The company’s Parcel Spend Management (PSM) solution simplifies network complexity, drives increased profitability and enhances the customer shipping experience through a suite of tech-enabled services. GMT leverages its best-in-class parcel audit and invoice automation to enable advanced analytics, optimization and ongoing network improvement and contract management projects. The company’s highly engaged, strategic delivery model, unique network modeling and re-rating technology position GMT to deliver unparalleled value. GMT’s customers represent more than $7 billion in parcel spend and consistently experience a 5-10X return, net of fees.
Craig Russell, GMT founder and CEO, said, “We’re excited to have Thompson Street Capital Partners join the GMT family. Their company culture and strategic perspective is a perfect complement to our business. It’s a winning partnership that we know will fuel our continued success.”
Jim Jacobs, GMT co-founder and CCO, added, “Our partnership will allow GMT to pursue the many opportunities we have in front of us in a manner we wouldn’t have accomplished on our own. We see this partnership as an opportunity to accelerate our momentum, enhance our offering and deliver increased value to our customers.”
Craig Albrecht, Managing Director, TSCP said, “By continuously solving the most complex challenges confronting mega-volume parcel shippers, GMT has developed a truly differentiated technology platform that drives performance improvements across the parcel ecosystem.” Mr. Albrecht added, “We are thrilled to partner with the superb leadership team at GMT to introduce new products, deliver new value to our customers and accelerate the Company’s already outstanding growth.”
Madison Park Group served as the exclusive financial advisor to GMT. Weil, Gotshal & Manges LLP served as legal counsel to TSCP.