The Chicago-based third-party logistics company Redwood Logistics said it acquired the Phoenix-based freight management services division of ROAR Logistics, a global transportation service provider based in Buffalo, N.Y.
Terms of the transaction were not disclosed.
Redwood said the deal would expand its presence in the Southwest and its freight management business.
“Redwood is excited to add geographic presence in the Southwestern United States, talented and experienced professionals and an impressive book of customers to serve through this acquisition,” said Mark Yeager, the chief executive officer of Redwood.
Redwood is owned by management and CI Capital Partners, a New York-based private equity firm.
CI Capital announced in January that it had acquired a majority stake in Redwood through the merger of Simplified Logistics, an Ohio-based less-than-truckload logistics provider that CI Capital had purchased in February 2017.
Redwood said today it is a full-service 3PL that is able to manage all of its customers’ freight management needs, having combined the LTL freight management services of Simplified Logistics and the truckload brokerage, managed transportation services and transportation technology services of Redwood Logistics.
Joost Thesseling, managing director at CI Capital, said, “We are excited to support the Redwood Logistics management team in their acquisition strategy. After the combination of Redwood and Simplified Logistics, this acquisition is another step towards building Redwood into one of the largest third-party logistics providers in the country.”
Mark Yeager is a former president and board member of Hub Group, which he left in 2015. His brother, David P. Yeager, is chairman and chief executive officer of Hub, which was founded by their father, Phil, in 1954 and grew to become one of the largest intermodal marketing and logistics companies in the country.