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Argentum Closes Sale of TransForce, Inc.

New York, NY –  July 6, 2015 – Argentum, a private equity firm providing growth capital to rapidly growing service-based businesses, is pleased to announce the sale of TransForce, Inc. to an affiliate of Palladium Equity Partners, LLC, a New York based private investment firm. TransForce provides workforce management solutions to the commercial transportation industry through a network of 47 branches across 24 states and dispatches more than 2,500 drivers to its customers on a daily basis. The sale represents the 20th profitable exit by the firm’s second fund, Argentum Capital Partners II, L.P.

Argentum partnered with TransForce’s management team to successfully execute an aggressive buy-and-build strategy that augmented the company’s strong organic growth to create a market-leading specialized staffing firm providing commercial truck drivers and related compliance services. TransForce completed five acquisitions over the last two and half years that expanded its market coverage, generated significant operating synergies, and substantially increased operating margins. Since emerging from the 2008 recession, TransForce has grown revenues four-fold, reflecting a compound annual growth rate of nearly 25%, while increasing earnings and net operating cash flow at much higher rates.

“The TransForce management team has done an outstanding job transforming TransForce from what was a regional business when we made our original investment to what is now a best-in-class national provider of workforce management solutions to the commercial trucking industry,” said Daniel Raynor, a Managing Partner of Argentum. “We are also pleased that the company’s success will translate into substantial returns to our limited partners.”

Commenting on Argentum’s sponsorship of the company, TransForce CEO David Broome said “Argentum was a great partner. They played a critical role in executing our acquisition strategy and provided important support to our management team in building an industry-leading company. I especially appreciate Argentum’s partnership-oriented approach and valuable strategic advice that was provided during each phase of our growth process.”

About TransForce, Inc.
TransForce is a provider of specialized staffing, recruiting, and workforce management solutions to the commercial transportation industry. The Company supplies qualified commercial truck drivers to third-party logistics companies, private fleets, and trucking companies. TransForce operates 47 branches across 24 states and dispatches more than 2,500 drivers on a daily basis. For additional information, please visit or call (703) 838-5580.

About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with over $2.0 billion in assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $1.0 billion of capital in more than 20 platform investments and over 50 add-on acquisitions. The firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. The principals of the firm have significant experience in financial services, business services, food, healthcare, industrial and media businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium is based in New York City. For more information, visit

About Argentum
Argentum is a New York-based growth equity firm that supports entrepreneurial owners in building industry-leading companies. The firm partners with management teams of companies with revenues of $5 million to $25 million to provide capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Since raising its first fund in 1990, Argentum has invested in nearly 80 companies and supported more than 180 add-on acquisitions in technology, healthcare and other high growth service sectors. Learn more at


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