Chicago-based third-party logistics provider Redwood Logistics has been sold by private equity firm CI Capital Partners to AEA Investors. The financial terms of the transaction were not disclosed.

AEA Investors is an investment firm with over $15 billion in assets under management and a 50-plus-year history of partnering with middle-market companies to accelerate growth.

"We are extremely enthusiastic to be joining the AEA family. This additional investment accelerates our organization's strategic growth plan, all while retaining and underscoring our core values, unique Redwood culture, and winning team," said Mark Yeager, CEO, Redwood Logistics.

"Our customers, carriers, vendors, and employees will benefit greatly from this partnership as it enables us to accelerate the kind of aggressive innovation that led us to the development and launch of our Logistics Platform as a Service operating model."

"Redwood's management team has built an exceptional business, performing at the top of the freight industry and innovating ahead of the competition," said Justin de La Chappelle, partner at AEA. "We are very excited about Redwood's future, and we look forward to partnering with the Redwood team to help further expand its offerings and drive ongoing technology innovation."

For the past four years, Redwood has been a portfolio company of CI Capital.

This is a developing story. Check back for updates.

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