Creo Capital Partners has entered the logistics industry with the acquisition of Volunteer Trucking, a Tennessee-based provider of transportation and logistics services nationwide. The transaction, terms of which were not disclosed, is the first in a series of investments that Creo expects to make in the logistics industry as it identifies strong assets in a space that it believes is underserved by traditional private equity firms.
“We believe that a real opportunity exists in the small- to mid-sized transportation space,” says Rob Holland, Creo partner. “It’s an industry that has historically been underserved by private equity firms, but that represents unique opportunities that we are tapping into. Volunteer is a great start and provides an excellent platform for growth.”
Founded in 1978, Volunteer Trucking operates nearly 150 tractors and 250 trailers, and provides warehousing, brokerage and other logistics services. Volunteer Trucking’s founder Alvin Harrison will serve as the company’s chairman and chief executive officer, and Louis Capolino, a 30-year veteran of the transportation industry, will serve as company president.