Ridgemont Equity Partners Acquires Unishippers Global Logistics
Ridgemont Equity Partners, a middle market buyout and growth equity investor, today announced the recapitalization of Unishippers Global Logistics, a provider of third-party logistics services to small and medium-sized businesses.
Financial terms of the transaction were not disclosed. Private equity recapitalization usually involves an acquisition in which the original owners retain some equity in the company.
Unishippers offers small package and heavy freight services, including less than truckload, full truckload, and air freight through 300 franchise locations and affiliates across the United States. The company partners with over 30 regional and national shipping carriers, including UPS, YRC Freight, Estes, Saia, and UPS Freight, to provide attractive pricing and a full suite of shipping services to business owners and operators. Unishippers was founded in 1987 and is headquartered in Salt Lake City, Utah.
Ridgemont Equity Partners is a middle market buyout and growth equity investor based in Charlotte, North Carolina. Since 1993, the principals of Ridgemont have invested approximately $3.5 billion in 119 companies.
“Our success in serving 50,000 small and medium-sized businesses has been driven by our incredible franchisees, first rate carrier partners and strong executive leadership,” said Kevin Lathrop, president of Unishippers. “The recapitalization by Ridgemont will propel the company’s growth and ability to expand our current service offering and geographic footprint.”
“Logistics has been a core focus area for Ridgemont over the past several years and we’re very pleased to partner with the management team of Unishippers,” said Rob Edwards, partner at Ridgemont. “The company is well positioned for continued growth through utilization of its market leading technology, strong national franchise network and strategic carrier relationships to provide the most attractive shipping options for small and medium-sized businesses.”