Infrastructure-focused private equity firm Stonepeak has acquired energy transportation and logistics company Dupre Logistics.
Lafayette, Louisiana-based Dupre offers transportation, private fleet services and truck brokerage along the Gulf Coast and throughout the U.S. It boasts a fleet of more than 700 trucks and 1,000 drivers, along with a network of over 16,000 carrier partners, hauling bulk liquid products including chemicals, industrial gases and perishables. The company also arranges third-party capacity for customers.
Financial terms of the transaction were not disclosed.
“Over the last 40 years, Dupre has established an impressive footprint, becoming an integral part of the supply chain in the Sun Belt,” said Graham Brown, managing director at Stonepeak, in a news release. “Their continued quality and delivery of mission-critical services has resulted in a loyal customer base and an established position as a regional industry leader.”
Twenty-five-year industry veteran Chris Sower has been named Dupre’s new CEO effective immediately, succeeding Mike Weindel, who is departing from the company.
“We are now ushering in a new era at Dupre with new leadership, and with change comes opportunity,” said Dupre founder Reggie Dupre. “With Stonepeak’s extensive supply chain expertise and experience with similar transportation and logistics businesses, we’ll have an expanded toolkit at our disposal to be able to even better deliver for our customers.”
The Dupre family will maintain an ownership stake in the company with Reggie Dupre serving as a board member.
Brown Gibbons Lang & Co. served as the exclusive financial adviser to Stonepeak. G2 Capital Advisors acted as Dupre’s financial adviser.
Stonepeak completed its $3.1 billion acquisition of Air Transport Services Group last week.
