Nonantum Capital Partners (“Nonantum”), a middle-market private equity firm focused on investing in family and founder-led businesses, corporate carve-outs, and complex situations, today announced that it is partnering with founders Ken Kellaway and David McLaughlin to recapitalize RoadOne IntermodaLogistics (“RoadOne”), the leading asset-light, independent intermodal drayage provider in North America.
With a network of 60 locations from coast-to-coast and the combined capacity of 1,500 drivers and owner-operators, RoadOne is the largest independent intermodal trucking service provider in North America. Intermodal transportation involves moving freight in shipping containers using more than one mode of transportation (steamship, rail, and truck). RoadOne connects shippers’ goods to and from ports, railroads, and distribution centers, including at every major port in the United States.
“As supply chains evolve to meet the needs of e-commerce customers, shippers are increasingly looking for a transportation partner who can support their needs from coast-to-coast,” said Jon Biotti, Managing Partner of Nonantum. “Ken and David have built a platform – both organically and through acquisition – that has propelled RoadOne to become an industry leader in a fragmented market. The company is well-positioned for future growth based on their national footprint, best-in-class customer service, and long-term customer relationships. We are proud to add RoadOne to the Nonantum family.”
As part of the recapitalization and growth investment, the current management team will continue to lead RoadOne. Ken Kellaway will remain as President and Chief Executive Officer, and David McLaughlin will continue to serve as Chief Operating and Chief Financial Officer.
“The investment by Nonantum represents an exciting opportunity for RoadOne,” said Ken Kellaway. “We have known the Nonantum team for a long time and have a deep appreciation and respect for their founders. We look forward to the continued growth of this company and are delighted to have the support of a new investing partner who shares our vision for the business and who brings fresh capital to continue our successful acquisition strategy.”
“We are excited about the Nonantum team’s experience investing in transportation and logistics companies,” added David McLaughlin. “This will help bring best practices and fresh ideas to help with our expansion.”
About Nonantum Capital Partners
Founded in 2018 by a team of experienced private equity and management executives as a spin-out from Charlesbank Capital Partners, Nonantum is a Boston-based middle market private equity firm. Nonantum focuses on investing in family and founder-owned businesses, corporate carve-outs, and complex situations where personal partnership is critical, and opportunities exist for significant equity value creation. The firm seeks to invest in businesses with $10 million to $35 million of EBITDA. For more information, visit http://nonantumcapital.com/.
About RoadOne IntermodaLogistics
RoadOne IntermodaLogistics is North America’s premier, full-service intermodal transportation and related logistics company. With locations across the country, RoadOne offers industry-leading solutions including port and rail container drayage, terminal operations, dedicated truckload services, and transloading, warehousing and distribution solutions. With a fleet of professional drivers and technological streamlining solutions, RoadOne offers an integrated service that is unsurpassed in the industry. For more information, visit http://www.roadone.com.
Copyright Business Wire 2019