Resurgent Capital Partners (Resurgent), a leading operations-focused lower market private equity firm, today announced it has acquired Manning’s Truck Brokerage, a trusted logistics service from owner, Joseph A. Greve.
Manning’s Truck Brokerage is an asset light third party logistics provider who specializes in brokering freight for short and medium haul deliveries. The business was founded in 1971 and has over 45 years of growth and success. The company has a reputation for providing dependable, high volume, cost effective transportation services to shippers and carriers throughout the Midwest. The brokerage’s success is built on its highly customer focused team members, commitment to on-time reliability, and long-term relationships with both its customers and its carriers. Under Resurgent’s ownership, Manning’s Truck Brokerage remains committed to maintaining and further cultivating these relationships with one goal in mind; to keep freight, drivers and trucks moving on time and on budget.
In making the acquisition, Resurgent was excited to partner with incoming CEO, Charley Dehoney, a highly accomplished executive in the logistics industry.
“I am very excited to be joining such a storied brand in the trucking industry.Joe Greve and the Manning’s team have built an incredibly strong platform that, coupled with planned technology and data enablement, will create the most efficient freight brokerage platform in the country.Our goal is to compete and win not only against the traditional brokers but also be the leader in the new breed of venture backed ‘tech’ focused freight brokers.,” stated Charley Dehoney, CEO of Manning’s Truck Brokerage.
“We see an exciting opportunity to partner with Charley and the highly talented Manning’s team to grow the business.The team at Manning’s has provided first class service to their partners for years and we believe combining Charley’s leadership and vision with focused technology investments, we will grow the business substantially.,” said Dan Tamkin, Managing Partner at Resurgent Capital Partners.
Manning’s offers a wide range of transportation options for their customers, including both dry and temperature-controlled Truckload (TL) and Less than Truckload (LTL) as well as specialized flatbed, stepdeck, double drop and expedited loads. Manning’s highly experienced staff of transportation professionals can locate the best, most cost-effective carriers and assets for every shipment. Because of its long-lasting relationships with carriers, Manning’s team can always secure the proper equipment for customers when nobody else can. Each and every day, Manning’s employees speak with hundreds of shippers and carriers and locate the most cost-efficient trucking assets to move their customers’ most critical freight.
Terms of the transaction were not disclosed.
About Resurgent Capital Partners
Resurgent Capital Partners is a leading operations-focused private equity firm focused on the lower market.Resurgent looks to acquire middle and lower middle market businesses in the technology, business services, transportation and consumer spaces.The firm has deep operating and restructuring expertise and looks for opportunities to apply its network of executive talent and/or technology expertise to both performing and turn-around assets.Resurgent is headquartered in Los Angeles, California. More information is available at www.resurgentcp.com
About Manning’s Truck Brokerage
Founded in 1971 and headquartered in Omaha, NE, Manning’s Truck Brokerage has experienced over 45 years of growth and success as a 3rd party freight and transportation provider. Through its highly experienced and knowledgeable staff, the company has a reputation for providing dependable, high volume, cost effective transportation services to shippers and carriers throughout the Midwest. Manning’s team remains steadfastly committed to one goal; keep freight, drivers and trucks moving on-time and on budget.
Manning’s offers a wide range of transportation options for their customers, including both dry and temperature-controlled Truckload (TL) and Less than Truckload (LTL) as well as specialized flatbed, stepdeck, double drop and expedited loads. More information is available at www.mtbinc.com