Platinum Equity announced that it and Caterpillar have sold their respective 65% and 35% stakes in Neovia Logistics to Rhone Capital, an affiliate of the private equity firm Goldman Sachs. Full financial terms of the transaction were not disclosed.
In reference to the sale Platinum Equity Partner Jacob Kotzubei said, “We achieved everything we set out to, establishing Neovia as an industry leader with a great management team, a strong corporate culture, and all the tools it needs to continue succeeding long term. We are pleased with the value created on behalf of the company’s employees, customers and our minority partners at Caterpillar.”
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