CHICAGO--(BUSINESS WIRE)--Equity Group Investments (EGI), Sam Zell’s private investment firm, recently invested in Paper Transport, a Wisconsin-based for-hire truckload carrier that offers regional truckload, dedicated truckload, intermodal and logistics services. EGI is partnering with Paper Transport’s senior management team, who continue leading the business and retain an ownership stake in the company. The partnership provides additional capital for add-on acquisitions and strategic support for the organization’s growing truckload, intermodal and truck brokerage offerings. EGI President Mark Sotir, Managing Director Evan Harwood, Advisor Rob Silberman and Senior Associate Tyler Goldstein join Paper Transport’s board of directors.
“We’ve been impressed with Paper Transport’s management team, who have demonstrated an ability to grow, innovate and diversify the business during their tenure,” said Sotir. “One of our strengths is aligning with like-minded partners. EGI’s deep experience in the transportation industry and track record of scaling businesses, coupled with Paper Transport’s experienced leadership team and growth mindset, makes this partnership a win-win.”
Paper Transport defines success through growth and innovation. In turn, this provides career growth opportunities for employees and creates new services to solve customers’ challenges. “After 30 years of steady growth, our partnership with EGI will accelerate our strategy,” said Jeff Shefchik, president of Paper Transport. “EGI has a history of doing things differently than what the marketplace has done – we believe that same strategy is what has led to Paper Transport’s success in the past. We believe partnering Paper Transport with EGI will allow us to outpace the industry in both innovation and growth.”
Paper Transport has operations throughout the Midwest and Southern U.S. and holds a strong track record with shippers of paper products and consumer goods, including many global brands and Fortune 500 companies. Founded in 1990, the company ranks as the 41st largest dedicated truckload carrier and 22nd largest intermodal/drayage carrier in North America, employing more than 1,100 Class A truck drivers and office professionals and operating a fleet of 850 tractors and 3,000 trailers.
“Paper Transport has developed a strong reputation over the past 30 years, rooted in the company’s safety culture and commitment to top-tier customer service. We see opportunities for geographic expansion through add-on acquisitions and are excited to scale the company’s high-growth brokerage offering,” said Harwood. “We believe the company’s brokerage offering is a real differentiator, providing customers a full suite of transportation services.”
Terms of the transaction were not disclosed.
About Equity Group Investments
Equity Group Investments (EGI), founded by Sam Zell more than 50 years ago, has a long track record of building public and private businesses, including the origination and growth of multi-billion-dollar companies. EGI’s flexible capital and open investment mandate enable the firm to pursue opportunistic transactions across industries and geographies, throughout the capital structure, at any point in the economic cycle. EGI’s current portfolio includes investments in transportation and logistics, energy, waste and infrastructure, manufacturing, healthcare, agribusiness and real estate. For more information, visit www.egizell.com.
About Paper Transport
Founded over 30 years ago, for-hire truckload carrier Paper Transport has focused on forward momentum: find the most effective, innovative way to accomplish business goals that uphold its values of Safety and People. As evidence of its 15%-18% growth each year for the last decade, Paper Transport pushes the envelope and sets the tone in the transportation industry with a culture of innovation and a drive to succeed. Throughout the Midwest and Southern U.S., Paper Transport currently employs more than 1,100 drivers and office professionals as well as offers brokerage and intermodal solutions for global brands and Fortune 500 companies. For more information, visit www.papertransport.com.
