Tiger Cool Express gains equity funding

Overland Park, Kansas, US: Tiger Cool Express has gained additional equity funding from its private equity backers, Tiger Infrastructure Partners and Barings.

Tom Finkbiner, chief executive, Tiger Cool Express, said the capital infusion will allow Tiger Cool Express to grow with the aim “of becoming the leading provider of temperature-controlled intermodal service in North America.”

Tiger Cool Express has appointed Tom Finkbiner to chairman and Larry Shugart as president.

Finkbiner will continue to serve as chief executive but intends to step down as chief executive during 2017 pending the recruitment of his successor.

Finkbiner said: “Since founding TCX in 2013, we have built a world class business with almost $100 million in revenues, a fleet of over 700 state of the art refrigerated containers, a diversified group of customers, sophisticated IT infrastructure, and critical long-term rail relationships.

“It is the right time to plan for an efficient transition to the next leader of TCX. I plan to stay on as CEO until my successor is on-board and in my new role as chairman in the longer term.“