ITS Logistics focuses on accelerated growth and geographic expansion with sale to GHK Capital Partners LP
RENO, NV – June 15, 2021 – ITS Logistics (“ITS” or the “Company”), a premier third-party logistics company based in Reno, Nevada, announced the sale of the Company to GHK Capital Partners LP (“GHK”).
“We’re proud of what has been built at ITS Logistics since our inception, and thankful for the support of our Founders and current investors, McNally Capital and Coughlin Capital” said ITS Logistics CEO Scott Pruneau. “This exciting new strategic alliance with GHK will strengthen our ability to provide top-tier logistics solutions for our stakeholders through expansion of our services and physical footprint across North America.”
ITS Logistics was founded in 1999, and since that time, has expanded every year with services including asset lite network transportation, dedicated and expedited transportation, omnichannel distribution, ecommerce fulfillment, drayage and intermodal, and complete transportation management solutions.
ITS currently employs more than 600 team members across the United States. The Company has grown significantly in recent years, achieving nearly $500 million of revenue in 2020 and recently ranking 35th out of more than 20,000 freight brokers in North America.
“We believe that our great momentum combined with GHK’s strategic business acumen, financial expertise, and aligned culture will allow us to double-down on our growth and aggressively invest in our people, technology, physical assets and geographic expansion,” added Pruneau. “This is the beginning of the next era of ITS Logistics, and we are extremely confident in our immediate and long-term future.”
“We are excited about our new partnership with ITS, anchored by an exceptional leadership team that has pioneered a disruptive and unique approach to asset lite network transportation, middle mile logistics, omnichannel fulfillment, and beyond,” said Gil Klemann, Managing Partner of GHK. “We are committed to investing in the Company to fuel continued growth and superior, solutions-based customer service. This is an exciting new chapter for the Company and we are privileged to be part of the journey.”
About ITS Logistics
ITS Logistics is a premier Third-Party Logistics company that provides creative supply chain solutions with an asset-lite transportation division that ranks #35 in North America, a top-tier asset-based dedicated fleet, and innovative omnichannel distribution and fulfillment services. With the highest level of service, unmatched industry experience and work ethic, and a laser focus on innovation and technology–our purpose is to improve the quality of life by delivering excellence in everything we do.
About GHK Capital Partners LP
GHK is a private equity firm focused on making control investments in the middle market Industrials sector. GHK partners with experienced and capable management teams that can benefit from additional resources and strategic support brought by GHK to drive transformational earnings growth and investment returns. More information about GHK is available at www.ghk.com.