Open Road Ventures, a middle-market M&A firm, has announced its first acquisition, acquiring 3PL Double-Stack Logistics. The deal provides financial backing to enable expansion and growth for the company. With this acquisition, Open Road Ventures aims to bring together like-minded business owners who can benefit from each other's expertise.
Double-Stack Logistics is an intermodal freight broker with direct relationships with Class I railroads. It owns a fleet of over 150 intermodal containers, setting it apart from many 3PLs in the industry. This asset ownership allows Double-Stack to offer customized solutions for its clients.
The financial backing from Open Road Ventures will enable Double-Stack to expand its service offering and North American footprint. With this acquisition, Double-Stack plans to cement its position as a leading intermodal freight broker. The company's focus on intermodal solutions is expected to benefit from the partnership with Open Road Ventures.
Double-Stack's CEO, Joe Kolb, stated that the financial backing will enable the company to 'really start cementing those into steady, consistent opportunities.' This suggests that Double-Stack plans to prioritize its growth strategy in the coming months. The acquisition marks a significant milestone for Open Road Ventures, which has focused on acquiring small- and mid-size freight brokers.
Open Road Ventures' founding member, Mike Riccio, emphasized the importance of bringing together like-minded business owners who can share expertise and knowledge. This acquisition is expected to benefit both parties, with Double-Stack gaining access to new resources and Open Road Ventures expanding its portfolio of logistics companies.
The acquisition highlights the growing demand for intermodal solutions in the logistics industry. As more companies look to reduce their carbon footprint and increase efficiency, intermodal freight has become an attractive option. This partnership between Open Road Ventures and Double-Stack is expected to capitalize on this trend.
The deal demonstrates the importance of private equity firms in supporting the growth of logistics companies. By providing financial backing, these firms can enable companies to expand their operations and improve their services. In this case, the acquisition is expected to have a positive impact on the industry as a whole.
With this acquisition, Open Road Ventures has taken its first step into middle-market M&A. The firm's focus on acquiring small- and mid-size freight brokers positions it for long-term growth and success. As the logistics industry continues to evolve, companies like Open Road Ventures will play a crucial role in shaping its future.
The partnership between Open Road Ventures and Double-Stack Logistics is expected to drive innovation in the intermodal freight market. With their combined expertise and resources, the two companies are poised to offer customized solutions for clients across North America.
This acquisition strengthens the logistics landscape with a focus on intermodal solutions.
