Ridgemont Makes Equity Investment in Nolan Transportation
Private equity investor Ridgemont Equity Partners announced that it has made a minority equity investment in Nolan Transportation Group, a freight brokerage.
The statement from Ridgemont, whose investment is intended to further growth at Nolan. Atlanta-based Nolan Transportation’s management team will continue as majority shareholders. Terms weren’t disclosed.
“Ridgemont continues to be very active in the third-party logistics sector, now closing our third platform investment in the last two years in addition to four add-on acquisitions,” said Rob Edwards, partner at Ridgemont, which is based in Charlotte, North Carolina.
“This capital raise marks an important milestone for NTG as we continue on our path to become one of the largest providers of freight brokerage services in North America,” CEO Kevin Nolan said.
Tim Dillon, vice president at Ridgemont, said Nolan Transportation’s annual revenue run rate exceeds $300 million and has doubled in more than two years.
