Experienced Transportation & Logistics Investors Join Forces to Propel Next Stage of Growth
Charlotte, NC and Rye, NY (January 7, 2021) – 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 LLP provided legal services to Ridgemont and Hughes Hubbard & Reed LLP provided legal services to SEKO.