Taxonomy: Shipping

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.”
The cheating and illegal subsidization, carried out by countries like China, India, the GCC and others, have created an uneven playing field for American primary aluminum producers. The Section 232 aluminum tariffs help level the playing field for American workers and restore an industry decimated by unfair foreign competition.
The World Container Index, assessed by Drewry and a composite of container freight rates on eight major routes to and from the U.S., Europe and Asia, is up 14.1 percent to $1,792.96 per 40-foot container as of Jan. 3.
Most Popular
Latest News
Social Media

Loading...

Teamsters claiming win in driver classification battle

Teamsters claiming win in driver classification battle