Bregal Sagemount Invests in Internet Truckstop Group
Internet Truckstop Group (ITG) has received an investment from Bregal Sagemount, aimed at supporting the company’s continued expansion.
ITG is a provider of the freight-matching network Truckstop.com, founded in 1995, as well as technology solutions for transportation management, freight payment, fleet management, bonding and insurance, and freight factoring. Bregal Sagemount is a high-growth oriented private equity firm.
ITG plans to utilize the invested capital to scale its services and market reach.
“Bregal Sagemount will be a critical ally in the next chapter of our story as we move aggressively to help our customers tackle their biggest challenges,” said Paris Cole, CEO of ITG. “New capital will allow us to continue to innovate and rollout new product. We are relentlessly looking for better ways to build off our strong foundation, and we are strategically advancing our products by embracing connectivity and integrating it into the core of our solutions.”
“ITG has emerged as the leader in this market through its consistent effort to work closely with customers to understand their needs to meet the unique requirements of each business,” added Phil Yates, Founding Partner at Bregal Sagemount. “In ITG, we have a top management team offering transformative products to the rapidly-evolving freight transportation market.”
Yates will join Internet Truckstop Group’s board of directors. Terms of the deal were not disclosed.
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