Welsh, Carson, Anderson & Stowe, a New York-based private equity investor, will acquire a majority interest in Nashville-based Ozburn-Hessey Logistics, the nation’s largest privately held third-party logistics (3PL) provider and the sixth largest overall.
The agreement will allow Ozburn-Hessey to continue to pursue its operating and growth strategies, which have contributed to double-digit annual revenue growth in each of the past three years, according to Scott McWilliams, CEO of OHL. “This event will allow us to continue to aggressively pursue acquisitions throughout North America in the areas of contract warehousing, transportation management, and freight forwarding,” he said.
While the existing management team will remain in place, Ozburn-Hessey Logistics will add Jim Martell to its board as “non-executive” chairman and as an investor, McWilliams said. Martell, a veteran of more than 20 years in transportation and logistics, is the former CEO of SmartMail Services, which merged with Deutsche Post Global Mail USA in May 2004.
Ozburn-Hessey Logistics operates 18 multi-client warehouse campuses and nearly 100 total facilities in 20 states. In total, it employs 2,700 people and manages over 19 million square feet of warehouse space nationwide.
Source: Ozburn-Hessey Logistics, Local News Reports