USA-based freight broker GlobalTranz Enterprises has been sold to private equity firm The Jordan Company.
Phoenix-based GlobalTranz was sold by Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners; Susquehanna Growth Equity; Volition Capital; Savano Capital Partners; and other investors.
The transaction is expected to close within 45 days, GlobalTranz said.
The Jordan Company has a long history of partnering with management teams to help build businesses through a combination of strategic investments to drive organic growth and acquisitions.
“We are extremely impressed by what the current management team and employees have accomplished in building GlobalTranz into a world-class business,” said Brian Higgins, senior partner, The Jordan Company.
He added: “GlobalTranz is a very strong fit with our existing portfolio companies and we expect to leverage our experience in the logistics space to help management continue to grow the business.”
GlobalTranz is ranked the 10th largest freight brokerage in the USA by Transport Topics and says that its projects division specialises in the movement of oversize and heavyweight shipments via rail, heavy haul and marine ocean/barge carriage, supporting industries that include: power-generation, oil and gas, mining, infrastructure and government.