Wednesday 22 June 2022

US-based private equity firm Angeles Equity Partners, LLC, in partnership with KJM Capital, LLC, has invested in US-based refrigerated transport and freight brokerage solutions provider OBS Holdings, LLC (d/b/a "Freymiller"), the firm said.

Angeles and KJM will partner with Freymiller president and CEO David Freymiller to drive the next stage of the company's growth.

Headquartered in Oklahoma City, Okla., Freymiller provides refrigerated load, dedicated refrigerated trucking, logistics brokerage, and intermodal transportation services over a national network of freight lanes.

Supported by its efficient fleet of more than 600 tractors, in-house maintenance, and fleet dealership capabilities, Freymiller provides late-model equipment to support the time-sensitive needs of food and other cold chain distribution partners nationwide.

Angeles' investment in Freymiller originated from a targeted sector focus on differentiated transportation and logistics providers.

The Angeles and KJM teams' experience partnering with T and L companies to drive growth led them to specifically target refrigerated transport providers with scale and tenured management teams that could aggressively pursue organic growth and strategic mergers and acquisitions.

Simpson Thacher and Bartlett LLP provided legal counsel to Angeles Equity Partners and KJM Capital. KPMG LLP provided transaction advisory services to Angeles Equity Partners and KJM Capital.

Houlihan Lokey, Inc. was the exclusive financial advisor to Freymiller in the transaction, and McAfee and Taft was its legal advisor.

The terms of the acquisition were not disclosed.

Freymiller is a provider of temperature-controlled, time-sensitive freight transportation and logistics solutions headquartered in Oklahoma City, Oklahoma.

The company offers a suite of highly complementary service offerings through a combination of an asset-based fleet, asset-light brokerage capabilities, and a full-service trucking dealership offering service and maintenance, and financing.

Freymiller's national network delivers freight in 48 states serving a large and diverse customer base, and is one of the few temperature-controlled platforms of scale in the industry.

Angeles Equity Partners is a private equity firm that invests in companies across a wide range of sectors and specifically targets businesses that we believe can directly benefit from the firm's deep expertise in operational transformation and strategic repositioning.

KJM Capital, LLC was founded in 2014 to acquire leading lower to middle-market companies that serve business customers.