Investment Firm Stonepeak Buys Majority Stake in Dupré
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New York-based investment firm Stonepeak on April 16 acquired a majority controlling stake in Dupré Logistics for an undisclosed sum.
Dupré provides energy distribution services, on-site and private fleet services and strategic capacity brokerage services across the U.S.
Lafayette, La.-based Dupré operates a fleet of more than 700 trucks and employs around 1,000.
Dupre ranks No. 87 on Transport Topics’ Top 100 list of the largest for-hire carriers in North America, No. 11 among tank/bulk carriers and No. 57 among truckload carriers.
Stonepeak is an alternative investment firm specializing in infrastructure with about $72 billion of assets under management.
“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,” said Graham Brown, Stonepeak managing director.
“We believe that Dupré will be a great complement to our growing transportation and logistics portfolio and look forward to working hand in hand with Reggie [Dupré], Chris [Sower] and the Dupré team to take the company to the next level,” Brown said.
At the same time as the takeover, Stonepeak appointed Chris Sower as interim CEO of Dupré, effective immediately. He succeeds Mike Weindel, who had held the post since October 2023 and worked for Dupré since July 2016.
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Most recently, Sower was chief operating officer at another of Stonepeak’s portfolio companies, Albuquerque, N.M.-based chemicals logistics group Rinchem. Sower previously worked in supply chain logistics for companies including Airgas and ConocoPhillips.
Dupré is expected to seek out organic and inorganic growth opportunities following the deal, a source close to the company told Transport Topics.
Reggie Dupré and the Dupré family will remain shareholders in the company.
“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 endeavors,” Reggie Dupré said.
“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 tool kit at our disposal to be able to even better deliver for our customers,” the company’s founder added.
Stonepeak’s earlier infrastructure investments include temperature-controlled warehouse real estate investment trust Lineage, chassis provider and pool manager Trac Intermodal and intermodal container lessor Textainer.
Lineage operates more than 450 facilities with a total of around 86 million square feet and about 3.1 billion cubic feet of capacity global. Lineage ranks No. 12 on the Transport Topics Top 100 list of the largest logistics companies and No. 1 among refrigerated warehouse operators.
