MINNEAPOLIS (April 7, 2016) — Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce its support of Transport Holdings, LLC (“Transport” or “TII”) in its add-on acquisition of Jones Motor Group, Inc. and its affiliated companies (“Jones”).
TII, headquartered in Pittsburg, PA is an asset-light transportation and logistics company focused on providing flatbed, drop-deck, specialized and heavy-haul trucking and brokerage services in the U.S., Canada, and Mexico. Transport is a current portfolio company of Yukon and is led by Revelstoke Capital Partners (“Revelstoke”), a Denver based private equity investment firm.
Jones, based in Limerick, PA, is an asset-light transportation and logistics company with a diversified freight profile that includes flatbed, heavy-haul, dry van, refrigerated, as well as LTL. Jones is the oldest common carrier in the U.S., with operations dating back to 1894.
The combination of TII and Jones will create a leader in the industry with over $350 million in revenue and approximately 350 agents and 1,400 owner-operators handling approximately 170,000 loads, annually.
“In addition to greater scale and capabilities, Jones will further expand our services across end-markets and freight types” said Douglas McAdams, President, CEO and Co-Founder of TII. “Jones has developed a strong reputation in the industry and is an excellent fit with the TII family of companies. Ken Lacey, formerly the Senior Vice President, and has been with Jones for over 20 years has been appointed President of the Jones division within TII. James Koegel, formerly the President of Jones, will assume the role of Chairman of the Jones division within TII. We are pleased to have Ken and James join our team and look forward to continuing to provide high quality service to our agents, owner-operators and customers.”
“We are excited to support Revelstoke as they continue to leverage their logistics experience to grow the Transport platform,” said Michael Hall, Managing Partner of Yukon. “With Revelstoke’s hands-on approach and experience executing buy-and-build strategies together with the operational expertise and leadership of TII’s management team, we are confident Transport can continue its track record of success.”
About Transport Holdings, LLC
TII is an asset-light, agent-based transportation and logistics company with a core competency in providing flatbed, drop-deck, specialized and heavy-haul trucking and brokerage services in the U.S., Canada and Mexico. Through its network of approximately 350 agents and 1,400 owner-operators (as well as over 5,000 approved third-party carriers), TII transports or arranges transport of freight for large, diversified and high-growth end-markets. TII was founded in 1986 and is headquartered in Pittsburgh, PA. For more information, please visit www.thetii.com.
About Yukon Partners
Yukon Partners is an independent and unaffiliated mezzanine firm primarily serving middle market private equity sponsored business transactions with a typical investment range of $10 to $40 million in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon Partners is based in Minneapolis, Minnesota. For more information, please visit www.yukonpartners.com.
About Revelstoke Capital Partners
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies. Revelstoke strives to partner with management teams to execute on a disciplined organic and acquisition strategy to build exceptional companies. Revelstoke’s Managing Partners, Mark King, Dale Meyer and Simon Bachleda, have completed over 100 platform and add-on acquisitions, representing over $6 billion of total enterprise value. For more information, please visit www.revelstokecp.com.
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