CSG Partners Closes ESOP Buyout for Triple T Transport Company now Employee Owned
NEW YORK, Feb. 10, 2011 /PRNewswire/ -- CSG Partners, LLC, the New York-based boutique investment bank, announces that Triple T Transport, Inc. (Triple T) has sold to its employees in an ESOP buyout, led by its executive management team. CSG Partners served as the exclusive financial advisor to the company.
Founded in 1988, Triple T is a leading transportation brokerage and logistics company, specializing in refrigerated trucking. Operating from its headquarters in Lewis Center, Ohio and branch offices in Florida, Illinois, and Wisconsin, Triple T utilizes over 12,000 independent carriers and serves clients throughout the nation.
George Thacker, who led the CSG Partners team on the transaction, commented, "Unlike other potential exit strategies, the ESOP buyout was a winning proposition for everyone. The ESOP provides an excellent liquidity strategy for the owners, tax benefits for the company, and exceptional benefits for the employees who are now owners of the company."
Tom Sanfillipo, one of the co-founders and selling owners of Triple T, commented: "We've been very fortunate to build Triple T into a successful business. Although we had the option to pursue other exit strategies, we wanted to give back to the employees who helped contribute to the success of Triple T. The ESOP also ensures the company remains locally-owned and is positioned for continued growth."
Ben Wells, an attorney with Dinsmore & Shohl who was counsel to the ESOP Trustee, added, "Triple T is an excellent example of why ESOPs are growing in popularity. They provide an attractive exit strategy for business owners while allowing employees to share in the company's future success."
About CSG Partners
CSG Partners, LLC is a fast-growing, boutique investment bank specializing in ESOPs, mergers and acquisitions, and capital advisory services for middle-market companies. CSG Partners has closed over 80 ESOP transactions for companies with an aggregate value exceeding $5 billion, for companies ranging in value from $10 million to $500 million. The firm has also raised or restructured over $2 Billion in capital. The firm is headquartered in New York and has an additional office in San Francisco. More information can be found at www.csgpartners.com.
SOURCE CSG Partners, LLC