SEKO and Greenbriar form new equity partnership

Greenbriar Equity Group LLC has purchased common stocks in SEKO Logistics with plans to invest more capital, a Greenbriar spokesperson told Private Equity International.

Greenbriar is partnering with SEKO's management team and shareholder base to provide capital and contribute to the Itasca, Ill.-based company, the spokesperson said.

SEKO, which provides supply chain solutions like transportation and warehousing, received an undisclosed amount of investment from the New York-based private equity firm.

“Their deep expertise and relationships will be invaluable as we implement our global growth strategy,” SEKO chief executive officer William J. Wascher said, “and will facilitate the next chapter of our growth, both organically and through acquisitions.”

Greenbriar has committed over $2 billion (£1.32 billion; €1.79 billion) in capital, focusing on the global transportation industry.

Although the details of the transaction were not released, the statement indicates Wascher will continue his role as CEO while SEKO's existing shareholders will maintain “significant ownership.” The senior management teams of SEKO's global branches will also continue their leadership, according to the statement.

SEKO, founded in 1976, now has more than 120 offices in 40 countries.

Hughes Hubbard & Reed LLP provided legal counseling to Greenbriar and Howard, Marcus & Berk to SEKO. Raymond James was the financial adviser in the transaction.