The Stephens Group LLC of Little Rock has announced a strategic transaction with Princeton TMX LLC of Fort Wayne, Indiana, a company that offers clients a cloud-based transportation management system.
The deal is designed to “accelerate the value Princeton TMX delivers to industrial shippers,” the companies said in a news release.
Further details on the agreement were not released.
Princeton TMX customers serve end markets including agriculture, packaging, steel, lumber, aggregates, food and beverage, and chemicals. They ship anywhere between 20 and 3,000 loads per day by truck or rail.
Aaron Clark, managing director at the Stephens Group, said, Princeton TMX has built the leading enterprise-grade solution in the industrial shipping space.
“We look forward to working with Princeton TMX and making the investments necessary to deliver even greater value to customers,” Clark said.
Princeton TMX’s platform is designed to automate processes that drive material savings and provide customers with real-time visibility into key components of their supply chain. The company was founded in 2016.
“We are thrilled to find a like-minded investor that shares our culture, believes in the value we can deliver, and adds the experience necessary to help us capitalize on the significant opportunity available in this market,” Tim Minnich, Princeton TMX’s president and CEO, said in a statement.
Software Equity Group (SEG) served as the exclusive financial advisor to Princeton TMX for the transaction.
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