Dive Brief:

• Alternative asset firm TPG’s private equity enterprise, TPG Capital, is acquiring a majority stake in Transporeon, a German cloud-based industrial logistics network, from The Riverside Company and other shareholders.

• The deal for Transporeon is expected to close in the third quarter, subject to customary closing conditions. Financial terms weren’t disclosed.

• Transporeon offers various freight-handling applications, and its network connects over 1,000 shippers to more than 57,000 global carriers.

Dive Insight:

Transporeon's logistic services represent a supply chain industry trend toward improving efficiency by shifting from manual to digitized, automated processes, according to Malte Janzarik, a principal at TPG Capital. Transporeon's services include logistics software to handle transportation execution, strategic sourcing, and time slot management in retail distribution centers. 

TPG said the deal extends its practice of working with companies that use technology to make business easier and more efficient. The firm has invested in Airbnb, Uber, IMS Health, Sabre and P3 Logistic Parks, among other ventures.