Private equity platform TPG Capital is to acquire a majority interest in Transporeon from The Riverside Company and other shareholders. The transaction is expected to close in Q3 and is subject to customary closing conditions, including regulatory approval.
Transporeon offers various connectivity-focused applications for the different stages of freight execution, providing shippers and carriers with meaningful cost savings, productivity gains, and service-level improvements by enabling them to communicate, collaborate, and transact efficiently. Transporeon is the leading cloud-based logistics platform with the largest network of its kind, connecting more than 1,000 shippers with more than 57,000 carriers across the world.
“Since inception, our goal as a company has been to enable seamless transactions for our customers through a highly-quality, connected and innovative network,” says Peter Förster, co-founder of Transporeon. “We’re very proud of the scale that we’ve achieved to-date.”
“Riverside has been essential to our growth throughout the last five years while we have expanded into new geographies and enhanced our product offerings,” says Marc Simon, co-founder of Transporeon. “We thank them for their partnership and look forward to building on this momentum with TPG.”
“TPG is widely recognised as a leading investor in software, technology, and transportation management,” says Martin Mack, co-founder of Transporeon. “We are very excited to work with TPG, tapping into their deep experience developing networks and transportation businesses.”
“The supply chain space, a market that has traditionally suffered from major inefficiencies, is starting to embrace digitisation as companies move away from manual processes to automated solutions,” says Malte Janzarik, of TPG Capital. “Transporeon is at the heart of this trend, positioned to tackle these inefficiencies by connecting tens of thousands participants in the supply chain. We look forward to working with Marc, Peter, Martin, and the team to further scale both the platform and the richness of its applications.”
This transaction builds on TPG’s track record of partnering with companies that are embracing software and technology to make business easier and more efficient across a range of industries. TPG has a long history of investing in both platforms and software companies, including Advent Health, Airbnb, Eze Software, IMS Health, Sabre, Uber, and Vertafore. Additionally, the firm has partnered with a wide range of companies in Europe, including digital education company TES Global, niche IT recruitment firm Frank Recruitment Group, specialist owner, developer and manager of European logistics properties P3, and leading Russian retailer Lenta.