GREENWICH, Conn., June 17, 2021 (Newswire.com) - GHK Capital Partners LP ("GHK"), a Greenwich, Connecticut based private equity firm pursuing control investments within the industrials sector, announced today that it completed the acquisition of ITS Logistics (the "Company" or "ITS"). ITS is a premier provider of innovative, asset-smart third-party logistics in the U.S. Terms of the acquisition were not disclosed.
GHK's acquisition of ITS will enable the Company to pursue several growth initiatives and build on its history of strong execution and customer-centric business model.
"This exciting new strategic alliance with GHK will strengthen our ability to provide top-tier logistics solutions for our stakeholders through expansion of our services and physical footprint across North America," said ITS Logistics CEO Scott Pruneau. "We believe that our great momentum combined with GHK's strategic business acumen, financial expertise, and aligned culture will allow us to double-down on our growth and aggressively invest in our people, technology, physical assets and geographic expansion," added Pruneau. "This is the beginning of the next era of ITS Logistics, and we are extremely confident in our immediate and long-term future."
Gil Klemann, Managing Partner of GHK, said, "We are excited about our new partnership with ITS, anchored by an exceptional leadership team that has pioneered a disruptive and unique approach to asset lite network transportation, middle mile logistics, omnichannel fulfillment, and beyond. We are committed to investing in the Company to fuel continued growth and superior, solutions-based customer service. This is an exciting new chapter for the Company and we are privileged to be part of the journey."
Senior financing for the transaction was provided by Goldman Sachs Asset Management and Churchill Asset Management. GHK was advised by Stephens Inc. and represented by Weil, Gotshal & Manges LLP.
About ITS Logistics
ITS Logistics is a premier Third-Party Logistics company that provides creative supply chain solutions with an asset-lite transportation division that ranks #35 in North America, a top-tier asset-based dedicated fleet, and innovative omnichannel distribution and fulfillment services. With the highest level of service, unmatched industry experience and work ethic, and a laser-focus on innovation and technology-our purpose is to improve the quality of life by delivering excellence in everything we do. To learn more about ITS visit www.its4logistics.com.
About GHK Capital Partners LP
GHK Capital Partners LP, based in Greenwich, Connecticut, is a private equity firm pursuing investments in the industrials sector. GHK partners with experienced and capable management teams that can benefit from additional resources and strategic support brought by GHK to drive transformational earnings growth and investment returns.
Source: GHK Capital Partners LP