Wind Point invests in new transportation and logistics platform
CHICAGO, IL, March 10, 2014 /CNW Telbec/ - Wind Point today announced an
investment in a new platform company, Dicom Transportation Group.
Headquartered in Montreal, Quebec, Dicom is a leading provider of
business to business expedited transportation services. The company
offers a complete range of small parcel courier, less-than-truckload
(LTL) and truckload transportation services as well as a full suite of
logistics and transportation management solutions (TMS). Dicom operates
under the Dicom Express, GoJiT and JiT24.7 brands and generates
approximately $175 million in annual sales.
Wind Point invested in Dicom in partnership with Scott Dobak, who will
join the company as CEO, and current management. Scott has 28 years of
experience in the transportation industry and was most recently
President of RoadRunner Transportation's LTL and TMS segments, a $775
million P&L. Prior to Roadrunner, Scott served for over 20 years with
YRC Corp, a leading LTL carrier operating in the United States, Quebec
and Ontario. Scott replaces retiring Dicom co-founder and CEO Peter
Overing, who successfully led the business from its founding 40 years
ago. All other members of management, including president Pierre
Poliquin, will remain with the business and will continue to maintain a
significant ownership stake in Dicom.
Joining Wind Point and Scott on the Dicom board of directors are Rick
McClelland, Joe Lawler and Tom Schmitt. Rick McClelland, who will serve
as chairman, is the former CEO of Dynamex, a $480 million small parcel
courier company operating across Canada and the United States. Joe
Lawler is the former CEO of ModusLink Global Solutions, a $840 million
provider of global supply chain services. Tom Schmitt is the former CEO
of Purolator, a $1.3 billion provider of freight and parcel delivery
services in Canada.
Konrad Salaber, a principal at Wind Point, commented, "Scott's
impressive track record of driving growth, the incumbent team's strong
operational talents, and our board's strategic vision make for a
powerful combination to create value. We are excited to be partnering
with this impressive team and look forward to growing Dicom both
organically and through a robust acquisition program."
Scott Dobak, CEO of Dicom, stated, "I feel fortunate to have the
opportunity to join and lead such a strong organization and I am very
excited to once again manage a business in Quebec. I look forward to
working with everyone on the Dicom team to execute the growth
opportunities we've identified and to continue to provide Dicom's tens
of thousands of customers with excellent service and value."
Dicom's acquisition program focuses on acquiring courier, LTL and TMS
providers in Quebec, Ontario and the United States. In addition, Dicom
is seeking third party logistics (3PL) providers who manage
transportation, logistics and supply chain functions for businesses in
Canada and the United States. Acquisition targets will also include
carriers and 3PL providers who manage and facilitate cross border trade
among Canada, the United States and Mexico.
Financing for the transaction was co-led by Fifth Third Bank and
Mouvement des caisses Desjardins and also included Banque Laurentienne
and BBVA Compass. Kirkland & Ellis LLP served as legal advisor and KPMG
LLP acted as a transaction advisor to Wind Point.
About Wind Point Partners
Wind Point Partners is a private equity investment firm that manages
commitments of approximately $2.5 billion. Wind Point partners with top
caliber CEOs to acquire middle market businesses where we can establish
a clear path to value creation. Additional information about Wind Point
is available at www.windpointpartners.com.
About Dicom Transportation Group
Dicom Transportation Group is a leading provider of business to business
expedited transportation services. The company offers small parcel
courier, less-than-truckload (LTL) and truckload transportation
services as well as a full suite of logistics and transportation
management solutions (TMS). Dicom operates under the Dicom Express,
GoJiT and JiT24.7 brands. Further information about Dicom may be
obtained at www.dicomexpress.com.
Image with caption: "Wind Point Acquires Majority Stake in Dicom Transportation Group. (CNW Group/Dicom Transportation Group)". Image available at: http://photos.newswire.ca/images/download/20140310_C4045_PHOTO_EN_37706.jpg
Image with caption: "Wind Point Acquires Majority Stake in Dicom Transportation Group. (CNW Group/Dicom Transportation Group)". Image available at: http://photos.newswire.ca/images/download/20140310_C4045_PHOTO_EN_37708.jpg
SOURCE: Dicom Transportation Group
For further information:
Miranda McCoy, (312) 255-4836