Third-party logistics (3PL) provider Transplace said today it has acquired Yusen Logistics (Americas) Inc.'s intermodal marketing company and over-the-road freight brokerage group, in a move to expand Transplace's North American intermodal capabilities.
Terms of the transaction were not disclosed.
This acquisition is intended to expand Transplace's geographic footprint, complementing its current intermodal and over-the-road capabilities and offering more effective execution for shippers' intermodal shipments and mode conversion, Transplace CEO Frank McGuigan said in a release.
One industry source agreed, saying the acquisition will expand Transplace's size but not provide new capabilities for the 3PL, which already operates a brokerage division and has a strong presence in intermodal lanes between Mexico and the U.S.
The newly acquired intermodal operations, with locations in Jacksonville, Fla., Cincinnati, Memphis, Tenn., Chicago, and Dallas, will operate as part of Transplace's intermodal division-Celtic Intermodal—which is led by Doug Punzel.
The deal is Frisco, Texas-based Transplace's most recent takeover since being acquired itself by the private equity firm TPG Capital in 2015. At the time, Transplace had said it planned to use its new leverage to expand its network beyond North America and to continue making acquisitions.
Secaucus, N.J.-based Yusen, also a 3PL, is a subsidiary of the Japanese liner shipping companyNippon Yusen Kaisha Inc. (NYK).
Transplace is a non-asset based logistics services provider serving manufacturers, retailers, chemical, and consumer packaged goods companies as a managed transportation service provider, generating gross revenue in excess of $3 billion from more than 1,000 customers.
