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Ridgemont Equity Partners invests in Nolan Transportation Group

Ridgemont Equity Partners, a middle market private equity investor, has closed a growth equity investment in Nolan Transportation Group (NTG), a service provider in the freight brokerage industry.

Ridgemont has agreed to partner with NTG’s management team, who will remain the majority shareholders, to support NTG’s growth.
Financial terms of the transaction were not disclosed.
Kevin Nolan, NTG’s president and CEO, says: “This capital raise marks an important milestone for NTG as we continue on our path to become one of the largest providers of freight brokerage services in North America. We welcome not only Ridgemont’s strong logistics expertise but most importantly their cultural fit with NTG, which is integral to the success of our business.”
“We decided to seek a financial partner to bolster our current growth strategy; to continue to build out the best brokerage operations team in the business; and to invest in the tools and technology that will increase our value and integration with our customers and carriers,” says Harold Baron, senior vice president, NTG.
“We have formed a strong relationship with Kevin Nolan and the NTG team over the past several years, and we’re very excited to be announcing our new partnership,” said Tim Dillon, vice president at Ridgemont. “NTG is among the fastest growing businesses in the USD50 billion truckload brokerage market and we recognise what an outstanding operation Kevin and his team have built. Run-rate revenue is over USD300 million and has more than doubled in size over the last two years. We look forward to continuing to scale the business together while preserving NTG’s strong and unique culture.”
“Ridgemont continues to be very active in the third party logistics sector, now closing our third platform investment in the last two years in addition to four add-on acquisitions,” says Rob Edwards, partner at Ridgemont. “I expect that Ridgemont will continue to find attractive opportunities in this sector over time.”

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