![]() LetterOne's strategy is to build a new portfolio of successful companies that are leaders in their fields and sectors. LetterOne was founded in 2013 and is an international investment business headquartered in Luxembourg. We wish L1 Health and Shane continued success growing the platform domestically and expanding internationally." Parris Boyd, a Principal at Firmament, said, "With Destination Pet, we proved our thesis that integrating veterinary health services with pet care solutions adds value for pet owners, and drove a successful outcome for investors." Brian Peters, a Vice President at Firmament, added, "Destination Pet is a highly scalable business with superior end market characteristics and management. L1 Health will commit up to $450 million of capital to acquire and scale within the veterinary vertical. Its platform L1 Health targets leading companies and teams that occupy a strategic role in the healthcare sector. LetterOne is an international investment business headquartered in Luxembourg. Shane Kelly, who previously led several companies within the healthcare sector, founded Destination Pet in 2017. At the time of sale, the Company owned and operated over thirty distinct facilities. geographic markets, with a major presence in the Southeast. Headquartered in Highlands Ranch, CO, Destination Pet provides pet care solutions and veterinary services in multiple U.S. 13, 2019 /PRNewswire/ - The Firmament Group ("Firmament"), a leading provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announced today the sale of Destination Pet LLC ("Destination Pet") to L1 Health, the healthcare investment platform for LetterOne. Firmament's investment thesis was to establish Envase as a technology leader by acquiring and consolidating incumbent TMS providers and building upon the foundation of customers and proven products with new proprietary solutions to address visibility and optimization.NEW YORK, Nov. Firmament identified the intermodal trucking and drayage software market as a compelling sector in which to invest. Richard White, Founder and CEO of WiseTech Global, said: "This is a strategically significant acquisition in landside logistics, which extends and strengthens our position in one of our six key CargoWise development priority areas, and we're extremely pleased to have the Envase team join the WiseTech Global group."įirmament was the controlling shareholder of Envase and established the company in partnership with CEO Larry Cuddy, Jr. The Envase team is grateful for the support of Firmament over the years and for their vision to establish Envase as a leader in landside logistics." Combined with the strength and size of WiseTech, we have a powerful platform that we expect to further increase capacity and utilization and drive innovation in what is an intensely complex and highly fragmented ecosystem. Over the past few years, we have assembled and integrated a powerful suite of landside logistics solutions. Envase's CEO Larry Cuddy, Jr, said: "This deal marks the beginning of a new, exciting chapter for Envase. ![]() Envase's more than 1,300 customers across North America include trucking companies, ports, depots, and warehouses. ![]() Headquartered in the United States, Envase's solutions for carriers automate and provide visibility for the movement of containers across all aspects of import and export drayage and intermodal operations from port and rail terminals to destination. Firmament (PRNewsfoto/The Firmament Group) ![]()
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