Freymiller reefer fleet is acquired by private equity firm
June 24, 2022
A private equity firm has purchased the company that runs Freymiller refrigerated trailers across the U.S.
OBS Holdings LLC, which does business as Freymiller, has been purchased by Santa Monica, Calif.-based Angeles Equity Partners LLC and Orlando, Fla.-based KJM Capital LLC, according to a news release. The newly acquired company provides refrigerated transport and freight brokerage services to support cold chain management.
Oklahoma City, Okla.-based Freymiller has fleet of more than 600 tractors. It was founded in 1968 by Don Freymiller in Shullsberg, Wis. At first, the company hauled livestock, but the company moved to raw meat, produce and eventually refrigerated cargo in the 1970s, according to history on the company’s website. The company moved to Oklahoma City in 1996.
The founder’s son, David Freymiller, has been president and CEO for more than 25 years. He is expected to continue with the company.
He said in the news release that, “This investment represents an opportunity for us to accelerate our growth. 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.”
Angeles said in the news release that it was conducting from a targeted sector focus on differentiated transportation and logistics providers when the Freymiller opportunity presented itself.
“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,” Sam Heischuber, principal in Angeles, said in the news release. “The transportation and logistics market has seen significant disruption from the COVID pandemic. 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.”