STG Logistics has acquired the intermodal division of XPO Logistics, a provider of container transportation services. STG was recapitalized by Wind Point and funds managed by Oaktree Capital Management.

The XPO intermodal division provides intermodal drayage and rail brokerage services for retailers and manufacturers. The XPO intermodal division is North America’s third-largest provider of containerized transportation services. STG offers facilities-based containerized logistics services including container deconsolidation, reconsolidation, and outsourced transportation solutions.

“I could not be more excited about this game-changing acquisition,” said STG CEO Paul Svindland.  “We are combining STG’s leading position in facility-based container logistics with XPO Intermodal’s leading position in container transport, creating a platform with unparalleled capabilities.

Antares Capital led the financing for the transaction and included Deutsche Bank Direct Lending, Stifel, Citizens, and MUFG. Kirkland & Ellis provided transaction counsel to Wind Point. Oaktree and McCarter & English provided transportation counsel to STG, Wind Point, and Oaktree. KPMG and PWC provided transaction advisory services on the transaction. Deutsche Bank Securities acted as an M&A adviser to STG Logistics and Oaktree. Harris Williams acted as an M&A adviser to STG Logistics and Wind Point on STG’s recapitalization. Raymond James acted as an M&A adviser to XPO Logistics.