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PMCF Investment Banking (“PMCF”) is pleased to announce it served as the exclusive investment banker to RPM Freight Systems, LLC (“RPM” or the “Company”) in its sale of a majority interest to Trive Capital and Bluejay Capital (“Trive” and “Bluejay”).
Headquartered in Royal Oak, Michigan, RPM is an international provider of non-asset based logistics and supply chain solutions servicing the entire spectrum of the finished vehicle and specialized freight markets. The Company leverages a fully integrated technology stack to optimize and automate its customer and carrier experience. Since its founding in 2011, RPM has grown its global footprint with additional locations spanning Mexico, Netherlands, and Poland. A disruptor in the automotive logistics industry, RPM offers unique solutions for its customers and facilitates over 500,000 shipped vehicles annually across the OEM, remarketing, retail, fleet management, rental, and POV segments in addition to inbound component freight moves.
Trive Capital is a Dallas-based private equity firm that invests in middle-market companies with the potential for transformational upside. As part of the transaction, Trive partnered with Bluejay Capital, an operationally focused provider of capital that exclusively invests in the transportation and logistics sector. Barry Spilman, Founder and CEO of RPM, stated “We are excited to partner with both Trive and Bluejay as they help us accelerate our numerous growth plans while sharing a common view on the core values that we pride ourselves on. The management team and I will remain significant owners of the business and look forward to the next phase of RPM’s mission to provide flexible solutions for our customers’ complex needs.”
Andrew Frank, Managing Director of Trive, remarked, “We are highly impressed with the RPM management team and their aim to drive technology-enabled innovation across the logistics landscape. RPM has consistently grown due to its digitized technology capabilities, holistic customer and carrier offerings, and dedicated team, leading to recognition from its blue-chip customers. We look forward to partnering with the incredible team at RPM to invest in the success of the business and execute on the exciting growth avenues ahead.”
PMCF served as exclusive investment banker to RPM, managing the entire transaction process. Mr. Spilman added, “We are very thankful for the tremendous outcome PMCF helped us achieve and for identifying true partners that are aligned with our organization’s culture and growth plans. Joe Wagner and the PMCF team’s experience and expertise in the transportation and logistics industry was evident throughout the entire process.” Joe Wagner, Managing Director of PMCF, added, “We are excited to watch the continued growth of RPM as it enters its next chapter with two incredible partners in Trive and Bluejay. RPM is a unique company in the evolving finished vehicle logistics segment with a proven track record of success, and it was a pleasure working with its fantastic team.”
The transaction closed in May 2024. Taft Stettinius & Hollister LLP served as the legal advisor to the Company.
About PMCF
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to private, public, and private equity-owned companies worldwide. We combine our expansive industry and transactional expertise with highly engaged senior-level bankers to create tailored solutions for all our clients. PMCF helps clients meet their sale, acquisition, financing, and strategic growth objectives through a broad range of services, including sale advisory, acquisition advisory, capital raising, transaction planning, and strategic advisory. We have dedicated professionals focused on key industry verticals including business & technology services, manufacturing, distribution, transportation & logistics, plastics & packaging, healthcare, and consumer & retail industries.
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