Indianapolis – June 28, 2021 -- FitzMark, LLC (“FitzMark”), led by founder and CEO Scott Fitzgerald, announced today the acquisition of the brokerage operations of Riverside Transport, Inc. (“RTI”) and Transco Lines, Inc. (“TLI”) with the support of Calera Capital, a leading middle market private equity firm. Bill Grojean and Terry Wallace, the owners of RTI and TLI, will retain an equity interest in the combined business. Terms of the transaction were not disclosed.
"RTI and TLI have built an exceptional brokerage business out of Chattanooga, TN where FitzMark has a strong, existing presence," said Scott Fitzgerald. "We are excited to partner with that brokerage team and provide them with the toolsets, capabilities and resources to meet what are rapidly growing shipper and carrier needs. We look forward to building the business together through the shared commitment to customer focus and service excellence."
“We’re excited to grow our footprint while adding a great team that fits our model and culture” said JD Davis, President of FitzMark South. “On both sides, our customers and carrier partners will immediately benefit from the acquisition.” The current President of the acquired business, Dan Doherty, will remain in place and report to Scott Fitzgerald.
"The team is excited to join FitzMark and continue to build on the strong brokerage operations we have developed over the past decade," said Terry Wallace. Bill Grojean further stated, "We expect to re-invest the proceeds to support our rapidly growing trucking operations as we pass the 1,500-truck mark while providing an attractive home for our brokerage team. We are highly enthusiastic about partnering with FitzMark. In this long-term collaboration each company can offer the other’s customers best in class supply chain support."
This acquisition represents FitzMark’s fifth acquisition as the business drives its substantial growth plan both organically and through a targeted acquisition strategy. Across each of these acquisitions, FitzMark has maintained a sterling track record of retaining and incentivizing leadership and key personnel and maintaining its high levels of service to shippers and carrier partners.
About Riverside Transport
Founded in 1994, Riverside Transport is a nationwide truckload carrier headquartered in Kansas City, KS and primarily providing asset-based services with its 1,000 power units and 3,500 trailers. RTI provides OTR, regional, local, spotting and shuttle services with great than half of its revenue in dedicated fleets.
About Transco Lines
Founded in 1984, Transco Lines is a nationwide truckload dry van carrier headquartered in Russellville, AR and primarily providing asset services for dedicated and expedited solutions. It operates 500 power units of which about 200 are expedited teams.
About FitzMark
Founded in 2006, FitzMark is a nationwide third party logistics firm serving truckload, flatbed, refrigerated and less-than-truckload freight markets. The Company provides best-in-class service to its customers and carriers by investing in its team of dedicated transportation professionals and honing its custom-developed transportation management software, DASH. The Company is headquartered in Indianapolis, IN and serves over 2,000 shippers and 25,000 carriers throughout the US. For more information, visit: www.fitzmark.com.
About Calera Capital
Founded in 1991, Calera Capital is a private investment firm which has invested over $3.7 billion. With offices in Boston and San Francisco, Calera focuses on partnering with founders and management teams to drive significant value creation in their businesses, primarily in two industry sectors: Business Services and Specialty Industrials. Calera Capital makes substantial equity investments in middle-market businesses and works closely in support of management to build long-term sustainable value through the implementation of strategic and operating initiatives. For more information, visit: www.caleracapital.com.
For more information, contact:
Taylor Williams | Marketing
Email: taylor@fitzmark.com
Phone: 765.635.7978