WASHINGTON, DC - Venn Corporation (dba Venn-Corp), an international leader in transportation project logistics, announced it has secured addition financing from Farragut Capital Partners, LLC in the form of a $5.0 million equity investment.
"Farragut Capital is excited to partner with transportation projects logistics leader Venn-Corp. We believe the company's leadership team will continue to deliver successful results for the company and its investors," said Philip McNeill, Managing Partner. "We have seen the company expand its customer base and enter new vertical markets over the past several years, and management's vision for innovative transportation services, combined with leading- edge technology solutions will further strengthen the Company's position as a transportation industry innovator, domestically and abroad."
Venn-Corp (www.venn-corp.com) will use the funding to expand its business development and marketing resources, as well as its development resources for both existing and new services, and for other strategic initiatives.
"We continue to identify and pursue opportunities for innovation and growth in our core project logistics businesses," said Michael Scotch, CEO of Venn-Corp. "We have always been focused on developing innovative services while driving efficiency, and cost-savings through strategic technology investments. Our relationship with Farragut Capital enables our continued commitment to securing new enterprise account opportunities, and meeting marketplace challenges by delivering transportation solutions that lead the field, and exceed customer expectations."
Venn-Corp (VC) is a 3PPL (Third Party Project Logistics) company that serves as the Principal Logistics Contractor (PLC) for complex capital construction projects. VC coordinates, and manages distribution and warehousing of equipment and materials from purchase order issuance through construction. Dedicated to project logistics, VC is staffed with specialists in logistics, project and construction management, budgeting, scheduling, and FF&E design and procurement. The VC management team executes turnkey logistics solutions that provide origin-to-destination transport visibility with custom, quantifiable metrics. The Company provides a comprehensive, integrated approach to meeting capital construction project logistics challenges. VC serves the needs of project owners, developers, program managers, and vendors & suppliers. Founded in 2012, VC is based in the Washington, DC metropolitan area.
About Farragut Capital Partners
Founded in 2011, Farragut Capital Partners is a privately held investment firm with $100 million in assets providing subordinated debt and equity capital to finance outstanding lower middle market companies and management teams. Their investments support growth financings, debt refinancing, leveraged recapitalizations to provide owner liquidity, and management and leveraged buyouts.
Farragut specializes in asset-light companies with committed management teams, stable cash flows, defensible market positions, and the potential for significant growth in equity value. Favored market segments include light manufacturing, business services (including industrials, transportation, government contracting, healthcare, energy, and technology), value-added distribution, and media. The firm works with equity sponsors, fundless sponsors, senior lenders, and directly with management teams to create and build value in its portfolio companies over time.
Steve Ochs, 855-897-7207, email@example.com
Phillip McNeil, 301-913-5293, firstname.lastname@example.org
SOURCE: Venn Corporation