Transaction significantly boosts DCL's national reach and adds capabilities
INDIANAPOLIS, April 5, 2022 /PRNewswire/ -- Direct Connect Logistix ("DCL"), a leading third-party logistics services company, and Tipton Holding Group ("Tipton"), the parent company of Hoosier Logistics ("Hoosier"), today announced that the two companies are joining forces to build the combined business into a national leader in third-party transportation and logistics services.
Hoosier, founded in 2015 by Rob Likens and Nick Likens in Indianapolis, is a freight brokerage company with specialization in asset-light, temperature-controlled transportation solutions for the food, beverage, and related industries. By joining together, Hoosier and DCL will significantly expand its ability to serve customers across North America.
"We will immediately gain scale and resources from this transaction and will benefit from Hoosier's roster of blue-chip food and beverage customers," said DCL CEO Richard Piontek, who will lead the combined company. "We look forward to integrating Hoosier's experienced management team into our operations and expect the combination will strengthen our service offerings, broaden our customer base and set the stage for our continuing North American expansion."
Both Hoosier Logistics CEO Rob Likens and COO Nick Likens will join the combined company to help lead an expansion plan for DCL's brokerage operations. Nick Likens will join DCL's executive management team and Rob Likens will lead the asset-based truckload services division.
"As we talked extensively with Rich at DCL about this powerful business combination, we became convinced that DCL shares our corporate values and has a growth plan that will benefit our employees and our customers as we build this platform together," Rob and Nick Likens said. "We have worked hard over the past seven years to build Hoosier into what it is today and believe that joining with DCL will help all of us achieve our goals."
The transaction comes just a few weeks after DCL's acquisition of Performance Logistics, a cold food chain focused freight brokerage in Salt Lake City, Utah. With operations in the Midwest and Mountain West, as well as Texas, the addition of Hoosier provides the combined company with a larger regional and national presence, along with a customer base that will drive additional organic growth.
Detroit-based private equity firm Huron Capital acquired DCL in 2018 to build the company into a premier third-party logistics business.
"The freight brokerage industry continues to evolve and thrive in a volatile market with tight capacity and resulting rate pressure. Our acquisition of Hoosier Logistics further supports our strategy to develop a top North American transportation management platform and expand our capabilities with a deliberate and strategic focus on the cold chain segment," Piontek said.
Republic Partners served as the exclusive financial advisor to Hoosier Logistics, Inc. Terms of the transaction were not disclosed.
For more information about DCL, please visit: www.dclogistix.com.
About Direct Connect Logistix
Direct Connect Logistix ("DCL") is a leading, non-asset based, multi-modal third-party logistics company providing transportation solutions for customers of all sizes. Since its founding in 2009, DCL has continued to develop its knowledge in the temperature-controlled, time and condition critical truckload segment serving the Food, Grocery, Beverage, and related industries.
DCL's unique HUSTLE culture has fueled its growth by defining how the company serves its customers, carriers, investors, employees, and the community at large by providing high performance logistics management solutions that enable sustainable, responsive, and efficient customer supply chains. For more information, please visit: www.dclogistix.com.
About Hoosier Logistics
Founded in 2015, Indianapolis based Hoosier Logistics' mission has been to be an industry-leading logistics and supply chain provider that provides customers, carriers, and employees with the opportunity to overcome obstacles by using strength, hard work, and cutting-edge technology.
For the past seven years, Hoosier has carried out that mission by delivering premium logistics solutions that meet and exceed customer requirements. For more information, please visit: https://hoosierlogistics.net/