Private equity firm Welsh, Carson, Anderson & Stowe said today it has partnered with Randall E. Curran, the former CEO of Ozburn-Hessey Logistics LLC ("OHL"), to identify third-party logistics (3PL) providers that may want to be acquired.
The partnership will initially focus on U.S.-based contract logistics and transportation management providers, firms whose services are in high demand but which often lack the internal resources needed to maximize their growth, Welsh, Carson said. The 3PL market is also very fragmented, with many niche players that may be looking for an exit strategy.
Curran ran OHL until Welsh, Carson sold it in August 2015 to the French 3PL giant Geodis for a reported US$800 million.
At the time of the sale, Brenéwood, Tenn.-based OHL had 120 distribution centers in North America with more than 36 million square feet of warehouse space.
"There are quite a few very well-run logistics companies that may wish to become part of a larger group," Curran said in a statement. "Our goal will be to leverage what makes each company successful while offering the market a more extensive value proposition."
Efforts to reach Welsh, Carson executives today were unsuccessful. The statement did not go into detail about the role the financial firm would have in the companies it acquires, or what Curran's role would be beyond identifying potential acquirees.