PHOENIX--(BUSINESS WIRE)--GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today announced that it has selected The Jordan Company, L.P. (TJC) as its new equity partner. TJC has signed a definitive agreement to acquire 100% of GlobalTranz from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, Susquehanna Growth Equity, Volition Capital, Savano Capital Partners, and other investors. The transaction is expected to close within 45 days.
TJC has a long history of partnering with management teams to help build businesses through a combination of strategic investments to drive organic growth and acquisitions. “We are extremely impressed by what the current management team and employees have accomplished in building GlobalTranz into a world-class business,” said Brian Higgins, Senior Partner, The Jordan Company. Higgins added, “GlobalTranz is a very strong fit with our existing portfolio companies, and we expect to leverage our experience in the logistics space to help management continue to grow the business.”
“I am excited to have TJC as our new owners,” said Bob Farrell, chairman and CEO of GlobalTranz. “I would like to thank Providence, Volition, Susquehanna and Savano for their support, guidance and governance. The collective and collaborative hard work by everyone on the GlobalTranz team has allowed our existing investors to realize a strong return while concurrently positioning the company well for the next steps in its evolution.”
Ranked the 10th largest freight brokerage in the US by Transport Topics, GlobalTranz is driving strong growth with 25,000+ customers through technology innovation, a network of 34,000+ carriers, transformative M&A, creative products and services and superior customer service delivered by the best people in the industry.
“Our new partnership with TJC will allow us keep doing what we are doing – driving execution, building differentiated solutions and technology, being a 3PL of choice for all our carriers, providing superior customer service, and being a strategic partner to our customers. TJC will allow GlobalTranz to continue its market leadership and scale to the next level. There is no other team in our industry like ours, and together we will continue to drive unique success. I look forward to the days ahead,” added Farrell.
GlobalTranz was advised by Harris Williams & Co. and Weil, Gotshal & Manges. The Jordan Company, L.P. was advised by Kirkland & Ellis LLP.
For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.
About GlobalTranz
GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S.
About The Jordan Company, L.P.
TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 35-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation and Logistics, Healthcare and Consumer, and Telecom, Technology and Utility. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, NY, TJC also has an office in Chicago, IL.
