Freight forwarder BDP International has selected Greenbriar Equity Group, a New York-based investment firm, as its first strategic equity partner, according to a statement issued by the company Dec. 6.
Based in Philadelphia, BDP provides transportation, logistics and supply chain management services for shippers in the petrochemical, health care and life sciences, oil and gas, manufacturing, retail and consumer goods sectors with 148 offices in 34 countries.
The size and terms of Greenbriar’s investment in BDP were not disclosed.
“We first sought out BDP 15 years ago,” said Jill Raker, a managing partner at Greenbriar. “We’ve had the pleasure to get to know the business and team in depth … and are thrilled for the opportunity to partner with them and to invest in BDP’s future growth.”
Other transportation-related companies in Greenbriar’s investment portfolio include Seko Logistics, parcel delivery company LaserShip and Lazer Spot, a firm that provides trailer spotting and yard management services.
In May Greenbriar sold its stake in World Freight Co. International to PAI Partners and Baring Private Equity Asia. The company, based in Paris, manages air cargo for airlines and was acquired by Greenbriar in 2015.
Richard Bolte Jr., chairman and CEO of BDP, said the arrangement with Greenbriar “will enable our team to pursue new organic initiatives, acquisitions and investments that provide customers with additional solutions to better manage their supply chains.”
Bolte said he will continue as CEO with no other changes in the company’s existing executive leadership team.
BDP International ranks No. 38 on the Transport Topics Top 50 list of largest logistics companies in North America, No. 32 on the TT list of top airfreight forwarders and No. 30 on the list of top ocean freight forwarders.