Austin Ventures, fresh off the close of $900M for a new fund, announced the commitment of up to $75 million of equity capital for the creation of AVRON Partners, Inc., a new supply chain services acquisition and strategic business development company. The new organization has been formed in partnership with Ronald T. Sorrow, co-founder and former CEO of RoadLink USA and former CEO of CSX Intermodal. Mr. Sorrow will lead the new organization as its President and Chief Executive Officer. The new venture will concentrate on acquiring and strategically expanding companies within the supply chain services, transportation logistics, and distribution sectors.
“Ron is an outstanding executive who has demonstrated success in both large, corporate environments, and entrepreneurial ventures in the supply chain and logistics industry. We are excited to bring Ron’s experience and perspectives to our initiatives in this space,” said David Lack, AV Partner.
AV’s relationship with Mr. Sorrow is part of a stated strategy to partner with talented executives with proven track records to build growth companies in attractive markets. AV has a dedicated in-house talent function that identifies executives that want a hands-on partner in building their next business. AVRON Partners will join AV’s portfolio of leading supply chain and logistics investments, which includes Newgistics, ReTrans and Port Logistics Group.