Scottsdale private equity firm keeps trucking with 4th transport acquisition

Temperature-controlled transport TBI, Inc. is acquired by Twin Express, Inc. and parent company Eberhart Capital, LLC. (Submitted photo)

Eberhart Capital’s trucking company, Twin Express, has purchased TBI a nationwide trucking operation based in Sioux Falls, South Dakota.

TBI, Inc. is the fourth acquisition “in the space” by Twin Express and its parent company, Eberhart Capital, LLC. The purchase adds to an extensive portfolio of asset-based temperature-controlled logistics firms, according to a press release.

The two companies are expected to invest in new technology and equipment for operations, the release said of Eberhart Capital, LLC that specializes in long-term investments in industrial spaces such as oilfield services, logistics, construction, and manufacturing.

The private equity group has a strong presence throughout the U.S. with investment offices in Scottsdale, Denver, and Los Angeles and operating companies with more than 30 locations through the country.

The acquisition of TBI, Inc. marks the company’s first venture in South Dakota. The combined company will run 15 million miles of freight a year, the release noted.

Twin Express, founded in 1988, provides refrigerated and dry van truckload contract carriage, power-only transport. With the acquisition, Twin expects to upgrade portions of the TBI fleet and continue to grow its geographic reach and customer base, the release said.

The acquisition will help Twin provide transportation services to an increasing nationwide customer list, primarily in industries such as meat packing, processed food and paper goods, according to Dan K. Eberhart, Eberhart Capital, LLC managing director.

“I’m excited about TBI’s footprint and being able to provide more services to all of our customers. The addition of TBI will also help us address capacity issues which continue to be a challenge, not just for Twin Express, but the transportation industry as a whole,” Mr. Eberhart said in a prepared statement.

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