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Centre Partners, Altivare Capital Acquire Truckload Broker Navajo Expedited

Two private equity firms have purchased Navajo Expedited, a Lakeland, Florida-based truckload broker. Centre Partners and Altivare Capital Partners plan to invest in the company's driver-vetting and pricing capabilities while maintaining its leadership structure. Navajo Expedited, founded eight years ago, operates a vetted network of 8,000 carriers and focuses on dry van and temperature-controlled transportation for food and beverage, consumer packaged goods and industrial shippers. The company previously operated as part of Denver-based Navajo Express, a 300-unit carrier. CEO Brandon Bodine, a 15-year industry veteran, will retain his position. His management team has worked together for many years prior to starting Navajo Expedited. Centre's funding includes capital for scaling the technology platform and pursuing strategic acquisitions. Financial terms were not disclosed.