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Platinum Equity completes acquisition of Bridge Terminal Transport from Maersk Inc.
BTT, based in Charlotte, NC, is one of the largest drayage providers and a leader in international and domestic transportation solutions at major port locations and inland rail sites throughout the United States. It operates through a network of 28 terminals, 25 container yards and more than 1,300 owner-operators.
“We are excited about the transition to new ownership, which will create new opportunities for our company, our employees and our customers,” said BTT CEO Hans Stig Moller. “BTT strives to be the best provider of trucking services in the industry and to deliver the exceptional service our customers deserve. Platinum Equity has the resources and expertise we need to help BTT achieve new levels of success.”
Moller cited Platinum Equity’s operations capabilities, financial resources and extensive experience in transportation and logistics as reasons to be excited about the future.
Platinum Equity currently owns a controlling stake in Neovia Logistics, a global, integrated logistics services provider; MXD Group, a provider of last-mile logistics services; Keen Transport, a national provider of heavy-haul logistics and transportation services; and Active Aero, a provider of expedited transportation and logistics solutions. The firm recently completed raising Platinum Equity Capital Partners III, a $3.75 billion buyout fund focused on investing in businesses that can benefit from Platinum Equity’s operational expertise.
“We have a lot of experience owning and operating transportation and logistics businesses that provide complex supply-chain solutions,” said Platinum Equity Partner and President of Portfolio Operations Bryan Kelln. “We understand what BTT’s customers expect and are committed to delivering the highest levels of service and dependability.”
A transition team of Platinum Equity in-house operations specialists is helping carve BTT out from Maersk and establish the newly acquired business as a standalone company.
Moller credited the operations support from Platinum Equity and the hard work of BTT’s employees for the process moving smoothly.
“We are all focused on executing a seamless transition while maintaining the highest standards of customer service,” said Mr. Moller.
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