Firm Poised to Profit from Continued Increase in e-Commerce, Rising Concentrate on Provide Chain Efficiency
Solar Capital to Draw on M&A Experience, Operational Expertise to Speed up Development
BOCA RATON, Fla., January 13, 2022–(BUSINESS WIRE)–Solar Capital Companions, Inc. ("Solar Capital"), a number one personal funding agency centered on defensible companies in rising markets with tangible efficiency enchancment alternatives, right this moment introduced that an affiliate has accomplished the acquisition of Complete Transportation Providers ("TTSI" or "the Firm"), a number one supplier of drayage transportation providers with a robust presence at strategically essential marine terminals and rail yards throughout the USA. Drayage—a key hyperlink in shifting items alongside the availability chain—refers back to the trucking of cargo containers between ports/rail terminals and inland distribution factors.
Based in 1989 and headquartered in Rancho Dominguez, California, TTSI is without doubt one of the main port and rail drayage companies in North America and is the one drayage supplier with a container yard strategically situated inside the Port of Los Angeles, the biggest port of entry by container quantity in North America. The Firm additionally has a rising presence in different important markets, together with New York/New Jersey, Chicago, Seattle/Tacoma, Norfolk, and Savannah. Along with drayage, TTSI gives regional trucking with devoted fleets, warehousing and brokerage primarily serving the retail, freight logistics, attire, and automotive markets.
"Port drayage is a mission vital, time-sensitive service that shippers depend on, and we’re very excited to announce this transaction, which is correct in our candy spot of defensible companies in rising markets with tangible efficiency enchancment," stated Marc Leder, Co-Chief Government Officer of Solar Capital. "Furthermore, as one of many few drayage suppliers of scale with its personal devoted fleet of drivers, carbon-emission compliant vehicles and strategically situated yards, we see a chance to execute on M&A in a extremely fragmented trade."
"We look ahead to working with the staff at Solar Capital to speed up our development plan and put in place an operational framework to construct on our management place at a really thrilling time for the trade," stated Vic La Rosa, CEO, Complete Transportation Providers. "With the sources and expertise that Solar Capital has on this trade, we’re poised to capitalize on the rising give attention to transportation and distribution, with prospects more and more viewing the connection with their drayage supplier as mission-critical. We have been additionally drawn to Solar Capital’s profitable historical past of working with founder-owned companies."
Because the increase in ecommerce continues to impression provide chains, port volumes are at file highs and the demand for drayage providers is outpacing the present provide of labor and vehicles, with excessive switching prices as a result of significance of high-quality execution. The trade within the U.S. can be ripe for consolidation, with over 2,800 drayage firms serving port and rail terminals, together with over 100 in every of the highest markets.
"Given its robust presence within the nation’s busiest ports and most lively distribution factors, as effectively its robust buyer loyalty, clear vitality focus, and file of reliability, TTSI is well-positioned to consolidate its management place," added Jordan Wadsworth, Managing Director, Solar Capital. "We look ahead to serving to the Firm construct on these benefits by accelerating development, professionalizing enterprise operations, offering the administration staff with extra sources, and bettering integration."
TTSI is the second funding within the provide chain house by a Solar Capital affiliate in 2021 following the June 2021 closing of Century Distribution Methods, a Virginia-based world digital logistics supplier providing provide chain administration and freight forwarding providers.
About Solar Capital Companions, Inc.
Solar Capital Companions, Inc. is a worldwide personal fairness agency centered on partnering with excellent administration groups to speed up worth creation. Since 1995, Solar Capital has invested in additional than 425 firms worldwide with revenues in extra of $50 billion throughout a broad vary of industries and transaction constructions. The agency has constructed a popularity as a trusted associate, acknowledged for its operational expertise. Solar Capital focuses on defensible companies in rising markets with tangible efficiency enchancment alternatives within the Enterprise Providers, Shopper, Healthcare, Industrial, and Expertise sectors. The agency has workplaces in Boca Raton, Los Angeles and New York, and an affiliate with workplaces in London. For extra data, please go to www.suncappart.com.
About Complete Transportation Providers, Inc.
Headquartered in Rancho Dominguez, California, Complete Transportation Providers, Inc. ("TTSI" or the "Firm") is a number one, nationwide supplier of multi-modal transportation providers and logistic options, together with drayage, short-haul and brokerage providers. TTSI is one among few suppliers of scale with coast-to-coast protection close to the entire nation’s most lively commerce hubs and ports.
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Firm Poised to Profit from Continued Increase in e-Commerce, Rising Concentrate on Provide Chain Efficiency