SEKO Logistics has selected Ridgemont Equity Partners as its newest investment partner for its next phase of expansion.
Ridgemont, a Charlotte-based middle market buyout and growth equity investor, will assist the logistics provider’s plans for “additional acquisitions, technology platform investments, and growth in key geographies”.
Greenbriar Equity Group, a New York-based private equity firm with extensive experience investing in the global logistics industry and SEKO’s key shareholder since 2015, will continue as a minority investor.
Terms of the transaction were not disclosed.
Said Rob Edwards and Tim Dillon in a joint statement on behalf of Ridgemont: “Ridgemont has known SEKO for many years and we have admired what the management team and Greenbriar have accomplished together.
“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.”
Founded in 1976, SEKO provides e-commerce logistics and shipping solutions, white glove delivery solutions, healthcare logistics and value-added freight forwarding services from over 120 offices in 40 countries worldwide.
“Today’s announcement marks the next stage of SEKO’s growth ambition. 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.
“These initiatives have been at the core of SEKO’s growth in recent years and, with Ridgemont’s support, we will accelerate SEKO’s capabilities and ultimately benefit our customers at the local and international levels.
“We have attracted outstanding partners in Ridgemont and Greenbriar and the future has never looked brighter for SEKO, our people and, most importantly, our customers.”
Gagne added: “SEKO and Greenbriar have had a strong partnership over the past five years and the business has more than tripled under their ownership.
“Although they are divesting their majority stake in the Company, Greenbriar will remain a significant equity partner through a new equity investment, which clearly demonstrates their continuing confidence in SEKO and what we can achieve with new investment from Ridgemont.
“We are entering the next phase of our growth with plans for additional acquisitions, investments in our technology platform as well as further expansion in key geographies in Europe, North America and Asia to better serve our clients’ growing, global transportation and logistics needs in an increasingly complex and volatile world.”
In a shift from purely organic growth since its founding in 1976, SEKO has recently acquired a compliance-focused freight forwarder, GoodShip International, and cross-border e-commerce specialists and airfreight forwarder Air-City.
SEKO has also acquired a majority position in its strategic partner Omni-Channel Logistics Australia to further solidify and grow its e-commerce and technology solutions for retailers, pure-play etailers, marketplaces and platforms.
