Freymiller has an ‘angelic’ new investor.
Angeles Equity Partners, in partnership with KJM Capital, recently invested in the Oklahoma City, Okla.-based refrigerated transporter’s holding company, OBS Holdings, with plans to help drive the next stage of the business’ growth.
Terms of the transaction were not disclosed.
“Angeles is excited to be investing in the freight logistics sector alongside industry veterans with a long history of building and leading trucking and logistics businesses,” said Sam Heischuber, principal at Angeles.
In addition to refrigerated trucking services, Freymiller also provides a logistics brokerage and intermodal solutions across its national network of freight lanes. Supported by a 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 leading food and other cold chain distribution partners, the companies said.
“The transportation and logistics market has seen significant disruption from the COVID pandemic,” Heischuber added. “We believe that specialty providers with scale, like Freymiller, stand to benefit from the current macroeconomic environment, as demand for refrigerated logistics continues to grow in a market with tight capacity.”
Angeles says its investment in Freymiller originated from a targeted sector focus on differentiated transportation and logistics providers. The Angeles and KJM teams’ experience partnering with these 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.
“This investment represents an opportunity for us to accelerate our growth,” said David Freymiller, CEO of Freymiller. “We will focus on our mission to provide the most reliable temperature-controlled services to our partners while staying true to our values of safety, professionalism, integrity, and excellence.
“I am looking forward to the next chapter in our company’s story in partnership with Angeles, as we provide more opportunities for our team members and expand partnerships with our customers.”
