Ridgemont Equity Partners Leads Recapitalization of SEKO Logistics
Experienced Transportation & Logistics Investors Join Forces to Propel Next Stage of Growth
Charlotte, North Carolina & Rye, New York, January 07, 2021 (BUSINESS WIRE) — Ridgemont Equity Partners today announced the majority recapitalization of SEKO Logistics (“SEKO” or the “Company”), a leading global third-party logistics (“3PL”) provider. Greenbriar Equity Group, SEKO’s majority shareholder since 2015, will retain a significant equity stake alongside SEKO management. Financial terms of the transaction were not disclosed.
Founded in 1976, SEKO is a global 3PL platform that leverages its leading technology-enabled solutions to solve complex issues within its customers’ supply chains. SEKO offers value-added freight forwarding, e-commerce and omni-channel logistics and white glove services to a diverse customer base. The Company operates a network of over 120 offices in 40 countries in order to offer highly-tailored services with an international reach via ground, air and ocean transportation modalities.
“Ridgemont has known SEKO for many years and we have admired what the management team and Greenbriar have accomplished together,” said Rob Edwards and Tim Dillon in a joint statement on behalf of Ridgemont. “SEKO is a fantastic business – the Company has a globally diverse operation with a difficult-to-replicate footprint and a remarkable high-touch service offering. We are excited to continue growing the Company by expanding its global reach, broadening its unique capabilities and enhancing its strategic partner network.
“We are always focused on our clients, first and foremost, and how we can best serve their supply chain and demand chain needs,” said James Gagne, President and CEO of SEKO. “Ridgemont has extensive and highly relevant experience growing third-party logistics providers by investing in technology, hiring talented people and acquiring strategic businesses. All of these initiatives will increase SEKO’s capabilities and ultimately benefit our customers at the local and international levels. The future looks very bright for SEKO and we’ve found outstanding partners in Ridgemont and Greenbriar.
“We are proud of the foundation SEKO has built and are excited to participate in the next chapter of the SEKO growth story,” said Michael Weiss, Managing Partner of Greenbriar. “Joining forces with Ridgemont creates a powerful combination of experience and capabilities to support SEKO’s dynamic management team.”
Financing for the transaction was provided by Barings, Blackstone Credit, Churchill Asset Management LLC and Manulife Investment Management (fka Hancock Capital). Piper Sandler Companies served as financial advisor to Ridgemont and Jefferies and Raymond James served as financial advisor to SEKO. Alston & Bird LP provided legal services to Ridgemont and Hughes Hubbard & Reed LP provided legal services to SEKO.
About SEKO Logistics
SEKO Logistics provides a complete set of technology-enabled logistics solutions, including freight forwarding, transportation, customs brokerage, fulfillment and warehousing services. SEKO designs configurable, ready-to-go solutions for customers, and is supported by a hybrid model of global, corporately-owned gateways in markets like London, Chicago and Hong Kong, coupled with an expansive strategic partner network that is at the core of its commitment to be “small enough to care and big enough to scale” for its clients, offering e-commerce and omni-channel retail logistics, white glove delivery solutions, healthcare logistics and value-added freight forwarding services. SEKO has over 120 offices in more than 40 countries. To learn more, please visit www.sekologistics.com
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Ridgemont’s most recent flagship fund, REP III, was formed in 2018 and has $1.65B of committed capital. www.ridgemontep.com
About Greenbriar Equity Group
Founded in 1999, Greenbriar Equity Group is a private equity firm with over $4 billion of committed capital focused on investments in market-leading services and manufacturing businesses in partnership with proven management teams. Greenbriar looks to identify companies capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s industry knowledge, operating capabilities, network of senior executive relationships, strategic insight and access to capital. Greenbriar focuses on investments in both business services and advanced manufacturing across the logistics, distribution, aerospace and defense, specialty industrial, transportation and related sub-sectors. Additional information may be found at www.greenbriarequity.com