Stonepeak has invested in Dupré Logistics, a US transportation company focused on logistics solutions.
The fund manager did not disclose the value of the investment but IPE Real Assets understands that it has acquired a controlling stake in Dupré, which operates a fleet of over 700 trucks and 1,000 drivers, and partners with more than 16,000 preferred carriers.
Dupré provides energy distribution services, onsite and private fleet services, and capacity brokerage services throughout the US.
Stonepeak said Chris Sower has been appointed interim CEO of Dupré to succeed Mike Weindel. Sower brings over 25 years of experience in supply-chain logistics and has served in leadership positions at companies similar to Dupré.
Graham Brown, managing director at Stonepeak, said: “Over the last 40 years, Dupré has established an impressive footprint, becoming an integral part of the supply chain in the Sun Belt. Their continued quality and delivery of mission-critical services has resulted in a loyal customer base and an established position as a regional industry leader.”
Reggie Dupré, founder of Dupré, said: “Stonepeak’s partnership with Dupré represents an exciting new chapter for the company, and I couldn’t be prouder of the work our team has done to get us to this point. I would like to thank Mike for his contributions along Dupré’s journey to date, and I wish him the best in his future endeavours.
“What started as a two-truck operation has now become a sophisticated, multi-segment business. We are now ushering in a new era at Dupré with new leadership, and with change comes opportunity. With Stonepeak’s extensive supply-chain expertise and experience with similar transportation and logistics businesses, we’ll have an expanded toolkit at our disposal to be able to even better deliver for our customers.”
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