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CI Capital Partners buys majority stake in Redwood Logistics

LBR Staff Writer Published 03 January 2018

US-based private equity firm CI Capital Partners has purchased a majority stake in Redwood Logistics for an undisclosed sum.

Based in Chicago, Redwood Logistics provides truckload, transportation management and technology services to the customers.

CI Capital will combine Redwood Logistics with Ohio-based less-than-truckload logistics provider Simplified Logistics, which was acquired in February 2017.

The combined company will offer enhanced third-party logistics services for the customers.

The combined firm will be headed by Simplified Logistics current CEO Mark Yeager, while Redwood Logistics founder and CEO Todd Berger will serve as president and COO for the combined organization.

Redwood Logistics provides flexible freight management solution to manage the logistics process.

 It also offers value added services such as reverse logistics, pick and pack, kitting and project logistics.

Simplified Logistics provides logistics consulting, transportation management, customer reporting and freight audit and payment services to the customers.

Yeager said: “Todd and the rest of the team at Redwood have built an impressive company whose unique culture and dedicated employees are responsible for its success.

“The complementary nature of Simplified’s and Redwood’s legacy businesses makes this a natural combination that creates a differentiated, multi-modal offering, improving the competitive positioning of both companies.”

Berger added: “Through conversations with Mark and CI Capital, it became clear that forming this partnership will help our highly motivated employees achieve our ambitious vision for Redwood.”

Based in New York, CI Capital Partners has $2.4bn assets under management, and has been investing in middle-market companies since 1993.

Image: CI Capital Partners has acquired a majority interest in Redwood Logistics. Photo: courtesy of adamr / FreeDigitalPhotos.net.