RoadOne IntermodaLogistics (RoadOne), the provider of intermodal transportation solutions for domestic and international shippers, has announced a majority investment by Tritium Partners to accelerate its growth. The investment will allow RoadOne to increase its services and footprints to better serve its diverse base of both domestic and international shippers, and provide industry leading new business opportunities for its valued owner/operator driver providers. Additional terms were not disclosed.
Backed by more than 1,200 tractors and drivers across 40 locations and access to over 50 Million square feet of warehousing, distribution, and transloading space at over 100 locations, RoadOne has the scale and resources to become a Single Source Solution, or "S3″ to the most sophisticated intermodal shippers. RoadOne delivers the solutions that physically and technologically connect shippers' goods to and from ports, railroad terminals and company locations, all supported by the flexible workforce services that are needed to get the job done.
As part of the transaction, the current management team will remain firmly in place as Founders and Shareholders. Ken Kellaway will remain President & Chief Executive Officer and David McLaughlin will remain Chief Operating and Chief Financial Officer. In addition, Ronald Sorrow, one of the founders and CEO of the predecessor company to RoadOne will join the management team as Executive Chairman of the Board. Ron was most recently a CEO-in-Residence with Tritium focused on supply chain businesses. Ron, Ken, and David worked together for many years building the original vision and company for what is now RoadOne and are all long-time experts in the intermodal business.
"We are incredibly excited to 'bring the band back together' with Ken, David and Ron building the next chapter of growth in the RoadOne story. It is not often you can back the same management team that has had success together to do it a second time with the same business," said David Lack, Managing Partner at Tritium.
"We are excited to Partner with Ron and Tritium in our next phase of growth; we will use this opportunity to invest further in our industry leading technology, our geographic footprint, and our services to both our shipper customers and owner/operator providers," said Ken Kellaway.
"The growth opportunities in intermodal are the best they have been in a long time," added Mr. Sorrow. "I firmly believe RoadOne is the ideal platform to build and consolidate the intermodal trucking industry off of. Tritium and I are committed to helping support Ken and David's original vision of creating the Nation's dominant intermodal logistics company.