TA Associates (Boston), a private equity and buyout firm, completed an investment in Newark, N.J.-based Preferred Freezer Services, an operator of refrigerated warehouses. The proceeds from the investment will go to buy out an existing investor.
"We are very excited about this investment in Preferred Freezer Services," said Roger Kafker, a Managing Director at TA Associates who will join the company's Board of Directors."We are confident that Preferred Freezer Services will remain at the forefront of design and operating efficiency and reap the benefits of the demand for technologically advanced, highly efficient and safe storage facilities."
Founded in 1989, Preferred Freezer Services operates twelve facilities in five metropolitan areas: New York City, Boston, Los Angeles, Miami and Chicago, providing refrigerated warehouse storage primarily for specialty frozen seafood. With 64 million cubic feet of total refrigeration space, Preferred Freezer Services ranks as the 7th largest refrigerated warehouse company in North America.