Global alternative asset manager The Carlyle Group announced its acquisition of United Road Services from Charlesbank Capital Partners LLC on September 5.
Headquartered in Romulus, Michigan, United Road is a prominent provider of vehicle transport and logistics in North America. United Road serves 10,000-plus diverse customers – including manufacturers, retailers, finance and leasing companies, rental agencies, auctions, web-based logistics firms and individuals – transporting millions of new, re-marketed and speciality vehicles annually.
“The Carlyle Group’s global reach and expertise coupled with its reputation for helping companies thrive, makes it an exceptional investor partner for United Road,” said Kathleen McCann, Chairman and CEO of United Road Services. “United Road is well positioned for continued growth in the new and re-marketed vehicle segments. Our strengths are our dedicated team, great customers, geographic reach and our technology. We have a nationally integrated network of providers and a proprietary technology platform that together give us the flexibility to respond quickly to customers’ needs. We expect the Carlyle team will help us accelerate our disciplined growth and further enhance our ability to serve our customers.”
Ms. McCann will continue as CEO of United Road. Mark Anderson will continue as President and COO and the balance of the current management team will remain in place.
“We are so grateful to Charlesbank and our amazing board of directors for their support over the past five years,” said Ms. McCann. “Our strategic growth platform was really turbocharged in late 2012 when we were acquired by Charlesbank. They provided the capital, support and encouragement to expand our reach and capabilities – both organically and through the acquisition of a major competitor, which gave us a deeper presence in the southeast and southwest US. Today our fabulous team is on track to move north of 3.5 million vehicles in 2017 up from 1.5 million in 2012.”
Since 2012 United Road Services has diversified and expanded its customer base and market reach, enhanced its owned vehicle transport fleet, formed even more strategic partnerships with owner operators and third party carriers, and grown its national sales and customer service capacity, among other strategies.
Carlyle Managing Director Adam Glucksman said, “United Road’s growth in recent years is a testament to its superb leadership and quality customer service. To our partnership with Kathleen and her team, we’ll bring Carlyle’s deep transportation experience and network, which we believe will contribute meaningfully to United Road’s continued growth trajectory.”
“United Road’s goal is to be the supplier and employer of choice in the finished vehicle logistics industry,” said COO Anderson. “We want passionate, hard-working and smart people on our team; we work hard to ensure our customers trust United Road to move their cars safely, on-time and damage-free. This combination of talent and trust is what drives United Road’s success today and will continue to do so into the future.”
Mary Petrovich, a Carlyle Operating Executive and Chairwoman of AxleTech International, who will serve on the board of United Road, said, “Kathleen is an accomplished leader with vision and drive. I look forward to supporting her efforts to take United Road to the next level of success.” AxleTech is a Carlyle-backed global designer and manufacturer of drivetrain systems for on- and off-highway vehicles.