Sun Capital Partners Affiliate Acquires Total Transportation Services, a Leading Provider of Drayage Transportation Services | Business
BOCA RATON, Fla.–(BUSINESS WIRE)–January 13, 2022–
Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on defensible businesses in growth markets offering tangible performance-enhancing opportunities, today announced that a affiliate has completed the acquisition of Total Transportation Services (“TTSI” or “the Company”), a leading provider of drayage transportation services with a strong presence in strategically important marine terminals and yards across United States. Drayage, a key link in moving goods along the supply chain, refers to the trucking of freight containers between ports/rail terminals and inland distribution points.
Founded in 1989 and headquartered in Rancho Dominguez, California, TTSI is one of North America’s leading port and rail drayage companies and is the only drayage provider with a strategically located container yard in the Port of Los Angeles, largest port of entry by container volume in North America. The company also has a growing presence in other major markets, including New York/New Jersey, Chicago, Seattle/Tacoma, Norfolk and Savannah. In addition to drayage, TTSI offers regional trucking with dedicated fleets, warehousing and brokerage primarily serving the retail, freight logistics, apparel and automotive markets.
“Drayage is a critical and time-sensitive service that shippers rely on, and we are very pleased to announce this transaction, which is right in our sweet spot of defensible businesses in growing markets with tangible performance improvement. “said Marc Leder, Co-Chief Executive Officer of Sun Capital. “Additionally, as one of the few large-scale drayage providers with its own dedicated fleet of drivers, carbon compliant trucks and strategically located yards, we see an opportunity to execute M&A in a very fragmented industry.”
“We look forward to working with the Sun Capital team to accelerate our growth plan and put in place an operating framework to strengthen our leadership position at a very exciting time for the industry,” said Vic La Rosa, CEO. of Total Transportation Services. . “With Sun Capital’s resources and experience in this industry, we are poised to capitalize on the growing focus on transportation and distribution as customers increasingly view the relationship with their drayage provider as essential to the mission. We were also drawn to Sun Capital’s successful history of working with founder-owned companies. »
As the rise of e-commerce continues to impact supply chains, port volumes are at record highs and demand for drayage services outstrips the current supply of labor and trucks, with high switching costs due to the importance of high quality execution. The industry in the United States is also ripe for consolidation, with more than 2,800 drayage companies serving port and rail terminals, including more than 100 in each of the major markets.
“Given its strong presence in the country’s busiest ports and busiest distribution points, as well as its strong customer loyalty, focus on clean energy and reliability, TTSI is well positioned to solidify its leadership position,” added Jordan Wadsworth, Managing Director. , Capital of the Sun. “We look forward to helping the company leverage these benefits by accelerating growth, professionalizing business operations, providing the management team with additional resources and improving integration.”
TTSI is the second investment in the supply chain space by a Sun Capital affiliate in 2021 following the June 2021 closing of Century Distribution Systems, a Virginia-based global digital logistics provider offering supply chain management services. supply chain and freight forwarding.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a global private equity firm focused on partnering with exceptional management teams to accelerate value creation. Since 1995, Sun Capital has invested in more than 425 companies worldwide with revenues of over $50 billion across a wide range of industries and deal structures. The firm has earned a reputation as a trusted partner, recognized for its operational experience. Sun Capital focuses on defensible companies in growth markets with tangible performance-enhancing opportunities in the business services, consumer, healthcare, industrials and technology sectors. The company has offices in Boca Raton, Los Angeles and New York, and a subsidiary with offices in London. For more information, visit www.suncappart.com.
About Total Transportation Services, Inc.
Based in Rancho Dominguez, California, Total Transportation Services, Inc. (“TTSI” or the “Company”) is a leading national provider of multimodal transportation services and logistics solutions, including drayage services, short distance and brokerage. TTSI is one of the few major providers with coast-to-coast coverage near all of the country’s busiest shopping malls and ports.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220113005186/en/
CONTACT: Matthew Conroy
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT FINANCE
SOURCE: Sun Capital Partners, Inc.
Copyright BusinessWire 2022.
PUBLISHED: 01/13/2022 07:30/DISC: 01/13/2022 07:32
Copyright BusinessWire 2022.