Private equity firm invests in RoadOne

Nonantum Capital Partners said it is partnering with company founders Ken Kellaway and David McLaughlin to recapitalize the intermodal drayage provider.

Private equity firm invests in RoadOne

Nonantum Capital Partners said it is partnering with company founders Ken Kellaway and David McLaughlin to recapitalize the intermodal drayage provider.

Private equity firm invests in RoadOne

Nonantum Capital Partners said it is partnering with company founders Ken Kellaway and David McLaughlin to recapitalize the intermodal drayage provider.

 
   Nonantum Capital Partners on Wednesday announced that it is partnering with RoadOne IntermodaLogistics founders Ken Kellaway and David McLaughlin to recapitalize the company.
   With a network of 60 locations from coast to coast and the combined capacity of 1,500 drivers and owner-operators, RoadOne is the largest independent intermodal trucking service provider in North America, according to Nonantum, which described itself as a middle-market private equity firm focused on investing in family and founder-led businesses, corporate carve-outs and complex situations.
   “As supply chains evolve to meet the needs of e-commerce customers, shippers are increasingly looking for a transportation partner who can support their needs from coast to coast,” said Jon Biotti, managing partner at Nonantum. “Ken and David have built a platform, both organically and through acquisition, that has propelled RoadOne to become an industry leader in a fragmented market.
   “The company is well-positioned for future growth based on their national footprint, best-in-class customer service and long-term customer relationships,” Biotti said.
   As part of the recapitalization and growth investment, the current management team will continue to lead RoadOne. Kellaway will remain as president and chief executive officer, and McLaughlin will continue to serve as chief operating officer and chief financial officer.

   Kellaway said, “We look forward to the continued growth of this company and are delighted to have the support of a new investing partner who shares our vision for the business and who brings fresh capital to continue our successful acquisition strategy.”
   McLaughlin added, “We are excited about the Nonantum team’s experience investing in transportation and logistics companies. This will help bring best practices and fresh ideas to help with our expansion.”
There have been record-high levels of imports over the past several months, primarily due to raised inventories ahead of expected tariff increases. But we are projecting declining volumes in the coming months and an overall weakness in imports for the first half of the year.
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