CIVC Partners Announces Investment in OTR Transportation
CHICAGO, Illinois – CIVC Partners, L.P. (“CIVC”), a Chicago-based middle market private equity firm focused on investments in the business services sector, is pleased to announce its investment in OTR Transportation (“OTR” or the “Company”) in partnership with CEO and founder Jon Braun and the OTR management team.
OTR, headquartered in Chicago, Illinois, is a technology-enabled freight broker that delivers exceptionally high levels of service to customers across North America through a proprietary technology suite and network of dependable carrier partners. The Company provides a full suite of services, including refrigerated, dry van, power only, drop trailer, and cross border, among others. The entire OTR management team will remain in place following the transaction and Jon Braun will maintain a significant ownership position in the Company. For additional information about OTR, visit www.loadotr.com.
“We are thrilled to be partnering with the CIVC team” said founder and CEO Jon Braun. “CIVC has been an active investor in the transportation and logistics sector over the past decade and they bring not only extensive industry experience, but also decades of success partnering with founders and management teams to accelerate growth. Our partnership with CIVC will allow us to execute on our growth strategy while continuing to provide unmatched service to our customers.”
John Compall, Partner at CIVC, added that “OTR is a rapidly growing provider of freight brokerage solutions with an exceptional track record of exceeding customer expectations. OTR’s deep operational expertise and proprietary technology platform allow them to tackle customers’ most challenging logistics needs while providing the speed, certainty, and visibility that customers need in order to effectively manage their supply chains. We are looking forward to our partnership with Jon and the rest of the OTR management team to support the Company in accelerating organic growth and pursuing strategic acquisitions.”
The partnership with OTR builds on CIVC’s investment experience in the transportation and logistics industry. CIVC was previously an investor in Magnate Worldwide, an asset-light transportation and logistics company focused on the North American premium transportation and international freight forwarding markets. As part of the investment in OTR, Dan Para, former chairman of Magnate Worldwide will be co-investing and joining the board of OTR.
Kirkland & Ellis LLP served as legal counsel to CIVC on the transaction. Deloitte Corporate Finance, LLC acted as OTR’s financial advisor. Vedder Price P.C. served as legal counsel to OTR.
About CIVC Partners, L.P.
CIVC Partners is a Chicago-based private equity firm established in 1970 to provide growth capital to entrepreneurs and founders. Since 1989, CIVC has invested over $2.0 billion in 74 platforms, primarily as growth and buyout capital, along with founders and executives in middle-market companies mainly in the business services sector. CIVC Partners currently invests from CIVC Partners Fund VI. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.
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