Los Angeles (Sept. 19, 2013) – Platinum Equity today announced it
has completed the acquisition of substantially all the assets of Bridge
Terminal Transport, Inc. from Maersk Inc., a subsidiary of the A.P. Moller-Maersk
Group. Financial terms of the
transaction were not disclosed. The business will continue to operate under the
Bridge Terminal Transport ("BTT") brand going forward.
BTT, based in
Charlotte, NC, is one of the largest drayage providers and a leader in international
and domestic transportation solutions at major port locations and inland rail
sites throughout the United States. It operates through a network of 28
terminals, 25 container yards and more than 1,300 owner-operators.
“We are excited about the transition to new
ownership, which will create new opportunities for our company, our employees
and our customers,” said BTT CEO Hans Stig Moller. “BTT strives to be the best
provider of trucking services in the industry and to deliver the exceptional
service our customers deserve. Platinum
Equity has the resources and expertise we need to help BTT achieve new levels
of success.”
Mr. Moller cited Platinum Equity's operations
capabilities, financial resources and extensive experience in transportation and
logistics as reasons to be excited about the future.
Platinum Equity
currently owns a controlling stake in Neovia Logistics, a global, integrated
logistics services provider; MXD Group, a provider of last-mile logistics
services; Keen Transport, a national provider of heavy-haul
logistics and transportation services; and Active Aero, a provider of expedited
transportation and logistics solutions. The firm recently completed
raising Platinum Equity Capital Partners III, a $3.75 billion buyout fund
focused on investing in businesses that can benefit from Platinum Equity’s
operational expertise.
“We
have a lot of experience owning and operating transportation and logistics businesses
that provide complex supply-chain solutions,” said Platinum Equity Partner and
President of Portfolio Operations Bryan Kelln.
“We understand what BTT’s customers expect and are committed to
delivering the highest levels of service and dependability.”
A transition
team of Platinum Equity in-house operations specialists is helping carve BTT
out from Maersk and establish the newly acquired business as a standalone company.
Mr. Moller
credited the operations support from Platinum Equity and the hard work of BTT’s
employees for the process moving smoothly.
“We are all
focused on executing a seamless transition while maintaining the highest
standards of customer service,” said Mr. Moller.
About Platinum Equity
Platinum
Equity (www.platinumequity.com) is a global M&A&O® firm specializing in
the merger, acquisition and operation of companies that provide services and
solutions to customers in a broad range of business markets, including
information technology, telecommunications, logistics, metals services,
manufacturing and distribution. Since its founding in 1995 by Tom Gores,
Platinum Equity has completed more than 150 acquisitions.
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