Dupré Logistics recently partnered with New York-based investment firm Stonepeak, which specializes in infrastructure and real assets, and named Chris Sower interim CEO, replacing Mike Weindel.
Terms of the transaction were not disclosed.
Dupré provides energy distribution services, onsite and private fleet services, and strategic capacity brokerage services to a diverse group of blue-chip customers throughout the United States. The company, headquartered in Lafayette, Louisiana, has an extensive presence on the Gulf Coast and widespread coverage across the rest of the country. Today, Dupré maintains a fleet of more than 700 trucks and 1,000 professional drivers, and partners with more than 16,000 preferred carriers.
“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,” Reggie Dupré, Dupré founder, said in a news release. “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.
“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.
“The Dupré family will continue to be stockholders in the company and I am confident in our path forward with Stonepeak, and enthusiastic about what this transaction means for Dupré.”
Reggie Dupré started the company in 1980 as a family-owned gasoline hauler with 10 employees. The company added chemical hauling in 1985 and acquired a dry freight carrier in 1986.
“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, Chris, and the Dupré team to take the company to the next level.”
Sower brings over 25 years of experience in supply chain logistics and has served in leadership positions at companies similar to Dupré that are essential to the movement of goods in the United States, including Airgas, where he served as vice president of supply chain, distribution, and logistics.
Sower most recently served as chief operating officer at Rinchem.
“I am excited to be joining Dupré at this pivotal time in its history,” he said. “I have the utmost respect for Reggie and the talented team at Dupré—they have built an incredible business from the ground up. I look forward to working closely with them and Stonepeak to lead the company into its next phase of growth.”