NEW YORK – APRIL 15, 2019 – One Equity Partners (“OEP“), a leading middle market private equity firm, today announced that TA Services, Inc. (“TA Services”), the third party logistics (“3PL”) and brokerage division of OEP portfolio company PS Logistics, LLC (“PS Logistics”), has completed the acquisition of Celadon Logistics Services (“Celadon Logistics”) from Celadon Group, Inc., an Indianapolis truckload carrier.
Headquartered in Indianapolis, Celadon Logistics is a leading 3PL provider of managed transportation, supply chain and warehousing services across North America. Celadon Logistics has over 500 employees who operate four offices and 11 warehouse facilities across seven states, supported by more than 15,000 carriers that ship FTL (“full truckload”) and “LTL” (“less than truckload”) deliveries.
“The addition of Celadon Logistics’ dry-van brokerage expertise and complementary customer base makes TA Services a leading logistics business in North America,” said Greg Belinfanti, Senior Managing Director, OEP. “We’re excited to support TA Services President and CEO Scott Schell and his team with this strategic acquisition and will continue to support the entire PS Logistics organization as it continues to evolve its “asset-right” model.”
The two companies will continue to operate independently until both are integrated over the next six months to ensure a smooth customer transition. Following the integration, the companies will operate under the TA Services brand.
“Our partnership with OEP has created a market-leading company that provides our customers with exceptional high-quality service and value, enabling us to fully manage bids, secure capacity, and handle warehouse needs,” said Schell. “The combined business will generate significant cross-selling opportunities and provide our long-term carriers and employees the opportunity to work for one of the industry’s leading 3PL providers.”
The acquisition of Celadon Logistics will be PS Logistics’ sixth acquisition since OEP’s investment in March 2018. PS Logistics previously acquired Travis Booth, Inc., D. Mosley Trucking and D. Mosley Logistics Services, Robinette Trucking, Riechmann Transport, and J. Carter Trucking.
About One Equity Partners
OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 180 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com.
About PS Logistics
Founded in 2004, PS Logistics is one of the largest and fastest growing flatbed transportation solution providers in the United States. PS Logistics provides full-service transportation services, including asset-based transportation, brokerage, 3PL and supply chain services. This hybrid model delivers optimal flexibility to address customer’s transportation needs in various industries throughout the United States. For more information, please visit www.pslogistics.com.
Celadon Group, Inc. (www.celadongroup.com), through its subsidiaries, provides long haul, regional, local, dedicated, intermodal, temperature-controlled, and expedited freight service across the United States, Canada, and Mexico.
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