July 24, 2024
Investment

Capital investment strengthens RPM’s global growth plans | News


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Trive Capital is a private equity firm and Bluejay Capital Partners is a consultancy and advisory firm focused on transport and logistics. Both are based in the US. 

“As we enter our next phase of growth, we are delighted to partner with Trive and Bluejay and leverage their significant operational and industry expertise,” said Spilman. “The support and resources of these two firms should accelerate our growth trajectory by enhancing our service capabilities and unlocking new opportunities in North America and Europe. Together, we will continue to set the standard for excellence and innovation in our industry.”

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In terms of enhancing service capabilities RPM said it is expediting its technology roadmap to further enhance the digital marketplace, its driver app and driver network. “We’re excited to bring network synergies which will benefit shippers and carriers across vehicle and freight shipping,” said John Perkovich, chief operating officer (COO) at RPM. He also said that RPM saw opportunities to provide shippers in Europe and Mexico with a more robust carrier network as a top priority. “We are just getting started,” said Perkovich. “Our unique position in the automotive logistics space affords us the opportunity to raise the bar of expectations for the entire industry. The confidence and conviction we have following the Trive/BlueJay partnership allows for us to further our strategy of providing best-in-class experience.”

Founded in 2011, RPM has built a diversified network of carrier partners supported by a proprietary technology platform to provide a wide range of vehicle makers with finished vehicle distribution services. That includes deliveries to the dealership network and more recently directly to the end customer. The US-based company launched services in Europe in 2019 and in Mexico in 2022.

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RPM said it is strategically positioned to enhance its core services for OEM, remarketing, specialised freight and cross-border logistics. The company added that as a prominent global logistics provider, it understands its customers’ needs and consistently innovates within the automotive ecosystem to simplify their dynamic supply chain challenges.

Andrew Frank, managing director at Trive Capital, commented, “We are thrilled to partner with the talented team at RPM, who have built a business that delivers a win-win for both shippers and carriers. The company will continue to pursue excellence in logistics with its flexible, customer-centric service model, and Trive looks forward investing in the platform to support its continued growth.”



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