Bregal Sagemount has made a significant investment in Internet Truckstop Group (ITG). Idaho-based ITG provides technology solutions for freight transportation.
Internet Truckstop Group (“ITG”) today announced an investment from Bregal Sagemount, aimed at supporting the company’s continued expansion.
ITG is the leading provider of end-to-end technology solutions throughout the freight execution lifecycle in North America. Bregal Sagemount is a private equity firm focused on investing both capital and strategic assistance in market-leading companies in high-growth sectors. Due to its accelerated growth over the past few years, ITG plans to utilize the invested capital to rapidly scale its services, market reach, and continued value-add to its customers.
“Our flagship property, Truckstop.com, was founded in 1995 and has been a pioneer in offering innovative technology solutions rooted in the transactional freight business,” said Paris Cole, CEO of ITG. “In the highly-competitive freight transportation market, we have differentiated ourselves through our commitment to provide superior customer value through our extensive freight network. Bregal Sagemount will be a critical ally in the next chapter of our story as we move aggressively to help our customers tackle their biggest challenges. New capital will allow us to continue to innovate and rollout new products, such as our recently-launched LoadPay and CargoShield offerings. We chose to partner with Bregal Sagemount because of the firm’s deep sector expertise, flexible investment approach, and experience with helping companies accelerate their growth.”
“ITG has emerged as the leader in this market through its consistent effort to work closely with customers to understand their needs to meet the unique requirements of each business,” added Phil Yates, Founding Partner at Bregal Sagemount. “In ITG, we have a top management team offering transformative products to the rapidly-evolving freight transportation market. We are excited to partner with ITG to enable them to further help freight carriers and brokers thrive.”
Cole added, “I believe ITG’s dedication to providing value and unique solutions to address customer needs has resulted in a successful 2015. We are relentlessly looking for better ways to build off our strong foundation, and we are strategically advancing our products by embracing connectivity and integrating it into the core of our solutions.”
Phil Yates will also join Internet Truckstop Group’s Board of Directors. Terms of the deal were not disclosed. Signal Hill acted as ITG’s exclusive financial advisor. Managing Directors Dave Dolan and John Roediger led the Signal Hill team.
About Internet Truckstop Group
Internet Truckstop Group (ITG) is a family of brands providing end-to-end solutions throughout the freight execution lifecycle. Founded in 1995 as The Internet Truckstop, Truckstop.com (ITG’s flagship property) has grown into one of the world’s largest freight-matching networks. In addition to Truckstop.com, ITG brands (Real Time Freight, LoadPay, uDrove, ITS Financial Services, CargoShield) provide a line of best-in-class industry solutions, including: transportation management, freight payment, telematics and fleet management, bonding and insurance, freight factoring, and much more. For more information, please visit truckstopgroup.com and truckstop.com.
About Bregal Sagemount
Bregal Sagemount is a growth-focused private capital firm. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $15 million to $150 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology/specialty finance. For more information, please visit www.sagemount.com.
About Signal Hill
Signal Hill is a leading advisory boutique serving the M&A and private capital raising needs of growth companies. Signal Hill’s experienced bankers provide deep domain expertise and an unyielding commitment to clients in our sectors: Internet & Digital Media, Internet Infrastructure, Services and Software. For more information, please visit www.signalhill.com.