Welsh-Carson acquires majority stake in Ozburn-Hessey Logistics
Private equity investment company Welsh, Carson, Anderson & Stowe has acquired a majority interest in Ozburn-Hessey Logistics, a privately held third-party logistics company with operations in 20 states.
Ozburn-Hessey Logistics CEO Scott McWilliams said Welsh Carson's investment means the Nashville-based logistics company will be in a position to continue a strategy of growth.
“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,” McWilliams said.
Welsh, Carson, Anderson & Stowe is a New York-based investment company that has been in business for 26 years.
Ozburn-Hessey Logistics' management team will remain in place, but the company 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, a $200 million company and one of the leading flat-sized mail and parcel delivery companies in North America.
Ozburn-Hessey Logistics operates 18 multiclient warehouse campuses and nearly 100 total facilities in 20 states. The company provides supply chain services including fulfillment, service parts management, return logistics, cross docking and pool distribution. OHL now manages more than 19 million square feet of warehouse space nationwide and offers comprehensive transportation of parcel, truckload and less-than-truckload shipments.