Saybrook has sold Total Transportation Services to Sun Capital Partners, Inc.
Total Transportation Services
Headquartered in Rancho Dominguez, California, Total Transportation Services, Inc. (TTSI) is a leading, national provider of multi-modal transportation services and logistic solutions, including drayage, short-haul and brokerage services. TTSI is one of few providers of scale with coast-to-coast coverage near all of the nation’s most active trade hubs and ports.
The Deal
Saybrook Capital and Afamia Financial Partners exited their investment after helping TTSI grow into a leader in the highly fragmented intermodal / drayage sector through strong organic growth and a series of five highly synergistic acquisitions over the past two years. TTSI sought a new partner to execute on an aggressive growth strategy, including an accelerated consolidation effort. With Sun Capital as the partner, management will continue to enhance TTSI’s value proposition with an expanded geographic footprint, broadened service capabilities and leadership in environmental sustainability.
Our Perspective
The intermodal / drayage market remains highly fragmented and further consolidation is expected as the industry undergoes a flight to scale and quality. Companies similar to TTSI that have invested in people, processes and technology will continue to gain share as blue-chip customers seek providers with national scale and service capabilities across the supply chain.
Gaurang Shastri, Managing Director in Lincoln’s Business Services Group who leads the firm’s logistics and transportation sector efforts, noted, “The TTSI transaction is another example of the surge of interest in the supply chain from private equity. Mergers and acquisitions activity in the sector continues to rise, and we are seeing a record level of demand for specialized logistics platforms like TTSI that have demonstrated strong growth, resilience and leadership during this period of unprecedented disruption in the supply chain.”
Lincoln conducted a highly efficient process to identify the best potential partners to support our growth strategies. We are excited to partner with Sun Capital to further expand our footprint and service capabilities to better meet customer needs and solidify our market presence as the go-to provider of intermodal / drayage services.
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