Transplace was owned by TPG Capital, the private equity platform of alternative asset firm TPG capital.

San Francisco-based Uber Freight was acquiring Frisco, Texas-based Transplace, a non-asset-based third-party logistics services provider, for roughly $2.25 billion and consisting of up to $750 million in the common stock of Uber. Uber Freight is a subsidiary of the ubiquitous, ride-sharing service Uber, whose proprietary app matches trucking companies with loads to haul.

Transplace was owned by TPG Capital, the private equity platform of alternative asset firm TPG capital. TPG acquired Transplace in 2017. Uber Freight said that Abu Dhabi Growth Fund, D1 Capital, and CGM Grosvenor invested $550 million into Uber Freight, in partial financing for the transaction. This combination of talent and technology ultimately creates one of the world’s leading logistics teams and suite of solutions during this time when the world is facing supply chain issues.

This partnership will unlock myriad efficiencies and insights across the $16 billion of Freight Under Management (FUM) and also help to reduce transportation costs, improve service, automate processes and streamline the execution of freight for shippers of all sizes. 

Uber Frieght

This combination of talent and technology ultimately creates one of the world’s leading logistics teams and suite of solutions during this time when the world is facing supply chain issues.

They also noted that through their combined networks, they will establish the largest global network of digitally-enabled carriers, reaching 135,000 high-quality carriers throughout North America and Europe, for various services, including intermodal, cross-border, and expedited, among others. Uber Freight and Transplace leadership both praised the closing of this deal in a joint statement.

Logistics is going through a historic transformation. Unprecedented volatility, increasing supply chain complexities, and escalating shipping costs are driving shippers to modernise their supply chains with new technologies, said Lior Ron, Head of Uber Freight. By acquiring Transplace, the company is able to accelerate the vision for a seamless freight ecosystem and create the world’s first true freight operating system. Combining the leading shipper network and the largest digital network of carriers will enable to immediately unlock new opportunities and efficiencies for everyone in the value chain — shippers, carriers, and ultimately society at large.”

Frank McGuigan, Chief Executive Officer of Transplace, noted that it is more essential than ever to bring shipper and carrier networks closer together through a fully connected and transparent logistics ecosystem that addresses the evolving supply chain needs of all stakeholders. The acquisition marks a turning point in the industry and a new era of delivering trusted outcomes by coupling best-in-class logistics platforms and managed services with the world’s premier shipper and carrier networks to dramatically increase value for customers, he said.

Uber Freight

By acquiring Transplace, the company is able to accelerate the vision for a seamless freight ecosystem and create the world’s first true freight operating system.