Harris Williams Advises Transflo on its Strategic Investment from Bregal Sagemount

Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Transflo, a portfolio company of True Wind Capital (True Wind) and Carousel Capital (Carousel), on its strategic investment from Bregal Sagemount (Sagemount). Transflo is a leading provider of mobile business intelligence and payments facilitation tools to the transportation sector. The transaction was led by Erik Szyndlar, Andy Leed, Brian Titterington, Gunnar Shaw, and Aaron Abel of the Harris Williams Technology Group and Frank Mountcastle and Jeff Kidd of the firm’s Transportation & Logistics (T&L) Group.

“Transflo plays a central role in the North American freight transportation industry, having invested significantly in technology and product development to constantly enhance the value it delivers to its growing and diverse customer base,” said Erik Szyndlar, a managing director at Harris Williams. “It was a pleasure working with Transflo management, True Wind and Carousel on this transaction, and we are excited to see what the company accomplishes in partnership with Sagemount.”

“Sagemount’s investment in Transflo represents another premium transaction for the firm within the supply chain and logistics technology sector,” added Andy Leed, a director at Harris Williams. “Industry-wide digital transformation initiatives, coupled with an increasing focus on automation and supply chain liquidity are not only driving strong demand for Transflo’s solutions, but also fueling investment activity across the broader market. We expect these long-term trends to continue driving innovation and investment over the next decade.”

“Leveraging the collective expertise and experience of the firm’s Technology Group and Transportation & Logistics Group allowed us to effectively tailor the positioning of Transflo, resulting in a successful outcome,” added Frank Mountcastle, a managing director at Harris Williams.

Transflo®, a Pegasus TransTech company, is a leading provider of mobile, business intelligence and payments facilitation software to the transportation industry. The company’s cloud‐based technologies digitize nearly 800 million shipping documents each year with over $100 billion in freight spend flowing through Transflo’s platform. Organizations throughout the Transflo client and partner network use the solution suite and digital platforms to increase efficiency, improve cash flow and reduce costs. Headquartered in Tampa, Florida, Transflo is setting the pace for innovation in transportation software.

True Wind is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology and hardware. Founded in 2015, True Wind has completed 10 platform investments and 20 add-on acquisitions.

Based in Charlotte, North Carolina, Carousel is a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with deep connections in the region. Since its inception in 1996, Carousel has invested in 48 companies primarily in three targeted growth sectors: business services, consumer services and healthcare services.

Sagemount is a growth focused private capital firm with $4 billion of committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Sagemount invests $40 million to $200 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT/services, business and consumer services, and financial technology/specialty finance.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams Technology Group advises leading private and public companies, founders, and private equity, growth equity and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The Technology Group has deep domain expertise in software and technology-enabled services and dedicated focus areas across a variety of vertical software applications and end markets. For more information on the Technology Group and its recent transactions, visit the Technology Group’s section of the Harris Williams website.

The Harris Williams Transportation & Logistics Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), automotive and heavy-duty vehicle, transportation equipment, and truck, rail, marine and air transportation. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

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