|
Almeida Capital is pleased to be a premier sponsor of AltAssets
|
FREE newsletter RSS
INTELLIGENCE
RECRUITMENT
KNOWLEDGE BANK
EVENTS
SECTOR ANALYSIS
HEDGE FUNDS
|
Click here for printer friendly page
US mid-market firm Fenway Partners acquires Gemini Traffic Sales13/02/2007. Source: AltAssets. 
 US mid-market private equity firm Fenway Partners has partnered with the current owners to acquire a majority interest in Edison, New Jersey-headquartered Gemini Traffic Sales, a regional less-than-truckload and nationwide full truckload carrier specialising in the transportation of time and temperature-sensitive products. Financial terms of the transaction were not disclosed.
Marc Kramer, Fenway managing director and head of the firm's transportation/logistics practice, said, 'As a recognised operator with the infrastructure and know-how to provide temperature-controlled and specialised freight services, Gemini holds a strong position in a large and growing niche in the transportation industry.
'Gemini is an exciting addition to Fenway's portfolio of transportation and logistics investments as it is a good demonstration of our ability to partner with a founder, bring additional resources to enhance the company's operating platform and identify highly attractive acquisitions and growth opportunities to accelerate Gemini's future value creation,' Kramer continued.
'Fenway has been actively exploring opportunities for investments in the temperature- controlled transportation and logistics market in an effort to expand our portfolio into new, attractive sectors of the industry,' Aron Schwartz, managing director of Fenway, added. 'The acquisition of Gemini is the first component in our strategy to create a national and vertically integrated competitor in temperature-controlled transportation and logistics with a significant competitive advantage in a highly fragmented segment of the industry.'
Fenway has $1.7bn under management.
Copyright © 2007 AltAssets
|
 
|
|
|
