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CI Capital Partners acquires Simplified Logistics in US

Published 07 March 2017

CI Capital Partners affiliate has acquired majority stake in Simplified Logistics, an Ohio-based third party logistics provider.

The management team of Simplified will retain a significant equity ownership in the company.  Terms of the transactions were not disclosed.

Simplified helps its diverse customer base manage their transportation needs by leveraging Simplified's experience, carrier relationships, scale and proprietary technology platform. Simplified also provides each customer with a custom solution, with the goal of reducing freight expenses and improving service.

CI Capital is acquiring Simplified in partnership with Mark Yeager, an experienced logistics executive who most recently served as the president and chief operating officer of Hub Group, a leading transportation management company offering intermodal, brokerage and logistics services.

Yeager will serve as CEO of Simplified and make an equity investment in the company. Yeager will join the board of Simplified along with co-founders Dave Klugman, Bob Maisch and Sam Avampato, as well as UPS Freight former president Jack Holmes and Mercer Management Consulting former head James Down.

Yeager said, "The Simplified management team has built a strong position in the LTL freight sector. We see an attractive opportunity to build Simplified into a large scale, full-service 3PL provider both organically and through strategic add-on acquisitions."

CI Capital managing director Joost Thesseling said: "We have remained interested in the logistics sector and have been searching for the right opportunity to acquire a third-party logistics platform company.

"We are very impressed with the Simplified management team and the business that they have built. We are grateful for the opportunity to form this partnership and look forward to working with the management team and Mark Yeager."

Simplified Logistics president Sam Avampato said: "We believe there is an opportunity for Simplified to expand its focus beyond LTL transportation management services. CI Capital and Mark Yeager's deep experience in logistics will help us pursue and achieve this goal."

Dave Klugman said: "We are thrilled to form this partnership with CI Capital, whose history of supporting management teams to build businesses through add-on acquisitions and other growth initiatives made them an ideal partner to support Simplified in its next phase of growth."

Source: Company Press Release