Fund Buys Control of Redwood Logistics
CI Capital Partners, a New York-based private equity firm, announced that it has acquired a majority interest in Redwood Logistics, a provider of truckload, transportation management and technology services.
Redwood Logistics will combine with Simplified Logistics, an Ohio-based less-than-truckload logistics provider acquired by CI Capital in February 2017, to form a full-service logistics platform which will operate as Redwood Logistics.
Mark Yeager, Simplified Logistics’ CEO, will lead the combined company. Yeager previously was the President and COO of Hub Group, a transportation management company offering intermodal, brokerage and logistics services.
Todd Berger, founder and CEO of Redwood Logistics, will be President and COO of the combined organization.
Recently hired senior logistics executives John Centers and Sheila Taylor will serve as the EVP of Sales and the CFO and EVP of Strategy, respectively, of the combined business.
The company’s less-than-truckload business will use the Simplified Logistics brand, and will continue to be led by Sam Avampato.
Chicago-based Redwood Logistics is a provider of integrated logistics services. www.redwoodlogistics.com
CI Capital Partners LLC, a private equity investment firm, has approximately $2.4 billion in assets under management. www.cicapllc.com