Ridgemont Equity Partners, a middle market buyout and growth equity investor, today announced the recapitalization of Unishippers Global Logistics, a leading provider of third party logistics services to small and medium-sized businesses. Financial terms of the transaction were not disclosed.
Unishippers offers small package and heavy freight services, including less than truckload, full truckload and air freight through nearly 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.
“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.”
Piper Jaffray & Co. served as financial advisor to Unishippers. K&L Gates LLP served as Ridgemont’s legal counsel. Financing was provided by Antares Holdings LP, NXT Capital, LLC and TIAA-CREF.
Unishippers' franchisees leverage the scale of the combined network to offer customers attractive shipping rates and are committed to providing best in class service. Unishippers’ strategy has resulted in significant growth, with revenue doubling since 2010, and the company has been recognized as a top freight broker by Transport Topics and a top franchise by Entrepreneur, Franchise Times and the Inc. 5000. The company was founded in 1987.
Contact Unishippers Global Logistics for information on franchise opportunities.