New York, NY – May 8, 2018 -- Welsh, Carson, Anderson & Stowe (“WCAS” or the “Firm”), a leading private equity firm, and industry veteran Randall (“Randy”) E. Curran, the former CEO of Ozburn-
Hessey Logistics, LLC (“OHL”), have formed a strategic partnership to identify and acquire companies in the third-party logistics (“3PL”) industry.
“Technology is reshaping the third-party logistics sector,” Mr. Curran commented. “We see an opportunity to build a market leader that leverages scale and technology to win in the marketplace.”
The partnership’s initial area of focus will be on U.S.-based contract logistics and transportation management providers, which seek a larger platform with the capital resources and operating depth to support accelerated organic and M&A growth. Mr. Curran has 24 years of experience as a CEO of manufacturing, telecom and logistics companies.
WCAS and Mr. Curran partnered together on OHL, one of the leading 3PL companies in the world. OHL provides integrated global supply chain management solutions, including transportation, warehousing, customs brokerage, freight forwarding, and import and export consulting services. Mr. Curran led OHL through several years of sustained growth culminating in the sale of the company to Geodis in 2015. At the time of the sale, OHL had 120 value-added distribution centers in North America with more than 36 million square feet of warehouse space, along with 8,000 employees.
“We are incredibly excited to join with Randy Curran to pursue investment opportunities in the outsourced logistics industry, which is rapidly evolving due to e-commerce growth and increasing complexity within supply chains. We intend to invest heavily in automation and visibility technologies on our platform in order to drive efficiencies and improve consumer satisfaction. As a seasoned executive and proven leader with decades of operating and M&A experience, Randy is the ideal partner for this new initiative,” said Ryan Harper, WCAS Principal.
“I look forward to working closely again with WCAS as we offer growing companies greater geographic reach and more resources to invest in technology,” added Mr. Curran. “There are quite a few very well run logistics companies that may wish to become part of a larger group. Our goal will be to leverage what makes each company successful while offering the market a more extensive value proposition.”
About Welsh, Carson, Anderson & Stowe
WCAS focuses its investment activity in two target industries: technology and healthcare. Since its founding in 1979, WCAS has organized 16 limited partnerships with total capital of over $22 billion. The Firm is currently investing an equity fund, Welsh, Carson, Anderson and Stowe XII, L.P., which closed on over $3.3 billion in commitments. WCAS has a current portfolio of approximately twenty
companies. WCAS’s strategy is to partner with outstanding management teams and build value for its investors through a combination of operational improvements, internal growth initiatives and strategic acquisitions. See www.wcas.com to learn more.