Caterpillar Logistics Services has been renamed Neovia Logistics Services.
Caterpillar Inc. sold a majority interest in the third-party logistics provider to Platinum Equity, a Los Angeles-based private equity firm, in July. Caterpillar retained a 35 percent equity stake.
"The new name, which translates to 'a new path,' and our brand mark expresses our forward-thinking culture as we set off on that path," said CEO Jos Opdeweegh in the company’s announcement. Opdeweegh was named CEO in August.
The company specializes in service parts logistics and also provides solutions for maintenance, repair and operations (MRO) and manufacturing logistics.