Gryphon Investors Buys NTG

Gryphon Investors buys NTG.
   
Nolan Transportation Group (NTG) has been acquired by Gryphon Investors.  Ridgemont Equity Partners exits its investment in NTG as part of the deal. 
   
NTG is now a sister company to Transportation Insight (TI), also owned by Gryphon.  TI provides third-party logistics services such as carrier sourcing, freight bill audit and payment services, transportation management system applications, parcel technology platform, and business intelligence.
   
Both firms keep their names and management teams while leveraging each other's services.  This arrangement strengthens their sector positions.  In concert, TI and NTG expect revenues of $3 billion annually.  This would rank them top three independent freight brokerages and top two enterprise logistics providers in the United States.
   
Kevin Nolan of NTG said: 'We look forward to joining forces with Gryphon and Transportation Insight to increase our footprint, continue to grow our company, and better serve our customers.  This investment helps take us one step closer to becoming the leading freight brokerage platform in the industry.'
   
Paul Thompson of Transportation Insight said: 'Logistics and supply chain management remains a highly fragmented industry, with growing demand for increased outsourcing of the transportation role, the growing complexity of the supply chain, continued growth in e-commerce, and increased customer expectations.  Larger outsourcing firms and brokerages will have a significant advantage as companies look to reduce costs and guarantee on-time deliveries.  We have admired NTG’s management team and track record for operating performance for years, and we are thrilled to join with NTG in bringing best-in-class solutions and service to businesses across North America.'
   
NTG's freight brokerage services are multimodal linkages offering truckload, expedited, less than truckload, drayage, and intermodal, serving 6,000 customers across the United States, Canada, and Mexico.
   
Jeff Kidd of Harris Williams said: 'NTG is a great example of why we believe the logistics space, and specifically the truck brokerage market, will continue to be a tremendous investment opportunity.  Secular tailwinds, strong economic growth, as well as the significant market fragmentation, make the third party logistics space ripe for continued M&A activity.'
   
Robert Grady of Gryphon Investors added: 'NTG is a fast-growing company with an energetic, team-oriented culture in a sector that is experiencing strong demand, and we’re excited about the opportunity for NTG and Transportation Insight to create a market leader in the outsourced transportation services industry.  We are fortunate and delighted to be able to bring NTG into the fold so soon after making our investment in Transportation Insight.  Our investment vision has from the start included the addition of a large brokerage operation to realize strategic benefits, and this is a critical and exciting step in our journey to expand this platform' 
   
Harris Williams was a financial advisor, and Evershed Sutherland LLP was the legal advisor to NTG. Sheppard Mullin acted as TI and Gryphon’s legal advisor, while North Inlet served as financial advisor.

Comments

Post a Comment

Popular posts from this blog

Pepsi Buys Rockstar

Pepsi buys Rockstar .     P epsiCo buys Rockstar Energy Beverages for $3.85 billion.     Founded in 2001, Rockstar is drinks designed for people leading an active lifestyle. Available in 20 flavors at convenience and grocery stores in 30 countries. Distributed by PepsiCo in North America since 2009. Supporting the Rockstar lifestyle across the globe through action sports, motorsports, and live music. Pepsi's energy portfolio also includes Kickstart , GameFuel, and Amp Energy.     The deal reflects the shift from reliance on sales of sugary, fizzy drinks toward options ranging from tea and coffee to still and sparkling water varieties, which appeal to health-conscious and younger consumers. Neither PepsiCo nor Coca-Cola owns a major brand in the energy drinks category, which is forecast to grow to more than $80 billion over the next five years and is now dominated by Red Bull.     2 00 countries and territories around the world enjoy ...
Read more

Compass Buys Marucci

Compass buys Marucci.     Compass Diversified Holdings buys Marucci Sports for $200 million.     Marucci Sports was founded in 2009 by Kurt Ainsworth, a retired pitcher for the San Francisco Giants and Baltimore Orioles, Joe Lawrence, a former second baseman for the Toronto Blue Jays, and Reed Dickens, a former White House Assistant Press Secretary under George W. Bush.     Marucci ’s first buy was Marucci Bat Company, launched out of a backyard shed in 2004. Ainsworth then led the buyout of an Amish-run Pennsylvania wood mill in 2008. This solidified Marucci's superior wood supply, and it still supplies all Marucci's wood today. In 2017 Marucci bought Victus , a baseball equipment maker known for its edgy designs and big attitude.     With vertically cohesive wood bat production, a global supplier group, and a client base of MVPs and World Series winners, Marucci and Victus are the top two bats among Big League players. T...
Read more

Gilead Buys Forty Seven

Gilead buys Forty Seven.     Gilead Sciences buys Forty Seven for $4.9 billion.     Forty Seven is a clinical-stage immuno-oncology firm developing therapies targeting cancer immune evasion pathways and specific cell targeting approaches based on tech licensed from Stanford. Forty Seven’s lead program, magrolimab , is a monoclonal antibody against the CD47 receptor, a ‘don’t eat me’ signal that cancer cells commandeer to avoid being ingested by macrophages. Evaluated ant ibodies are in many clinical studies of patients with myelodysplastic syndrome, acute myeloid leukemia, non-Hodgkin lymphoma, and solid tumors. These assets complement the cell therapy franchise Gilead added with its 2017 buy of Kite Pharma .     Beyond magrolimab , Forty Seven is fixing to advance two more compounds into clinical testing. Developing FSI-174, an anti-cKIT antibody, in combination with magrolimab creates a novel, all-antibody conditioning regimen to address ...
Read more