Transporeon, a European cloud-based business network for industrial logistics, on Aug. 2 announced that Fort Worth and San Francisco-based TPG Capital will acquire a majority interest in the company.
TPG Capital entered into a definitive agreement to acquire a majority interest in Transporeon from The Riverside Company and other shareholders of the Ulm, Germany-based firm. The transaction is expected to close in the third quarter and is subject to customary closing conditions, including regulatory approval. No price for the transaction was announced.
Transporeon offers connectivity-focused applications for the different stages of freight execution, providing shippers and carriers with cost savings, productivity gains, and service-level improvements. According to a news release announcing the transaction, Transporeon is the leading cloud-based logistics platform with the largest network of its kind, connecting more than 1,000 shippers with more than 57,000 carriers across the world.
“The supply chain space, a market that has traditionally suffered from major inefficiencies, is starting to embrace digitization as companies move away from manual processes to automated solutions,” said Malte Janzarik of TPG Capital. “Transporeon is at the heart of this trend, positioned to tackle these inefficiencies by connecting tens of thousands participants in the supply chain.”
TPG has invested in a variety of platforms and software companies, including Advent Health, Airbnb, Eze Software, IMS Health, Sabre, Uber, and Vertafore. TPG has also partnered with European companies including digital education company TES Global, niche IT recruitment firm Frank Recruitment Group, specialist owner, developer, and manager of European logistics properties P3, and Russian retailer Lenta.
www.transporeon.com
