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Gryphon takes majority stake in Transportation Insight

Gryphon Investors made an undisclosed majority investment in Hickory, N.C.-based Transportation Insight LLC, which provides asset-lite enterprise logistics and freight brokerage services in North America.

Following the investment, Gryphon replaced fellow private equity firm Ridgemont Equity Partners as Transportation Insight's majority owner.

Transportation Insight Founder and Chairman Paul Thompson and CEO Chris Baltz will keep a significant stake in the company and continue to manage its daily operations. Gryphon Operations Partner and former SIRVA Inc. CEO Wes Lucas will become executive chairman of Transportation Insight.

Harris Williams & Co. was Transportation Insight's financial adviser, and BB&T Capital Markets was Gryphon's financial adviser.