Transport Holdings LLC, backed by Revelstoke Capital Partners, acquired logistics provider Jones Motor Group Inc. The two companies will have over $350 million in annual revenue while handling about 170,000 loads.
Jones is an asset light transportation and logistics company based in Limerick, Pennsylvania that was founded in 1894. The target’s transportation services include flatbed and heavy haul trucks along with small freight distribution.
Transport Holdings, based in Pittsburgh and founded in 1986, is also an asset light logistics business. The company serves the energy, infrastructure, manufacturing and industrial sectors throughout North America. Revelstoke invested in Transport Holdings in 2014.
A rapid growing e-commerce market has consumers demanding faster shipping times without paying higher fees which has been making logistic providers attractive targets. Atlas Air Worldwide Holdings Inc. (Nasdaq: AAWW) acquired air cargo provider Southern Air Holdings Inc.; Bregal Sagemount made an undisclosed investment in freight services provider Internet Truckstop Group; and XPO Logistics Inc. (NYSE: XPO) purchased truck company Con-way Inc.
The Clarendon Group II and Winston & Strawn LLP advised Transport Holdings. Drinker Biddle & Reath LLP represented Jones.