Private equity firm Jordan Company (TJC) agreed to acquire US-based freight brokerage GlobalTranz for an undisclosed sum on Tuesday, allowing Susquehanna Growth Equity, an investment unit of quantitative trading firm Susquehanna International Group, to exit.
The transaction is due to close within 45 days of the announcement and will result in TJC taking 100% equity in GlobalTranz.
GlobalTranz connects clients to logistics services such as multi-modal transportation, supply chain management and warehousing. Its GTZ Connect technology uses predictive analytics to align carrier capacity with shipper demand.
The company currently serves more than 25,000 customers and is expected to scale further following TJC’s acquisition.
Susquehanna Growth Equity had backed GlobalTranz’s $40m series C round in 2014 with private equity firm Providence Strategic Growth, a division of Providence Equity Partners, after GlobalTranz raised $10m in equity from undisclosed investors in 2011.
Other shareholders exiting with the acquisition include Volition Capital and Savano Capital Partners, though it is unclear when they invested in GlobalTranz.
Bob Farrell, chairman and chief executive of GlobalTranz, said: “I would like to thank Providence, Volition, Susquehanna and Savano for their support, guidance and governance.
“The collective and collaborative hard work by everyone on the GlobalTranz team has allowed our existing investors to realise a strong return while concurrently positioning the company well for the next steps in its evolution.”