Post Capital Partners, New York, announced plans to purchase Smith Transportation Services, LLC, Sunrise, Fla., from its previous owners.
Smith Transportation is a national full-service third-party logistics and asset-light transportation services provider, with a leading presence in the Florida market. The company’s comprehensive brokerage service offering spans nationwide, across multiple modes of transportation, including load-to-ride (LTR), less-than-truckload, truckload and rail/intermodal brokerage. Additionally, Smith Transportation maintains exclusive relationships with owner-operator drivers, enabling the company to provide dedicated capacity to customers who maintain regularly scheduled routes.
“Smith Transportation has a longstanding reputation of providing critical transportation solutions for its customers on a nationwide basis,” says Michael Pfeffer, managing director of Post Capital. “We are thrilled to partner with Steve Smith and the rest of the management team to support them as they implement the company’s growth initiatives, which includes adding additional talent, expanding the company’s LTR service to additional geographies and potential tuck-in acquisitions.”
“Our partnership with Post Capital is extremely exciting for Smith Transportation and our employees. Post’s investment will enable us to supercharge our growth, to invest in new technology and to expand our geographic footprint. We look forward to Post’s support in helping us to pursue our strategic plan and to continue finding ways to better serve our customers’ and carrier-partners’ needs,” adds Steve Smith, president and COO of Smith Transportation.
“This transaction is a great example of Post Capital’s executive-first strategy in action,” adds Isaac Chalal, vice president of Post Capital. “In this situation, we partnered with an extremely talented team of individuals - many of which have worked together for several years - and utilized our relationship with a long-time executive partner of our firm to evaluate and execute the investment. Sam Woodward will also be a phenomenal resource to the company as it executes its plan going forward.”