Houlihan Lokey Advises Freymiller

Houlihan Lokey is pleased to announce that OBS Holdings, LLC (dba Freymiller) has received a majority investment from Angeles Equity Partners, LLC, in partnership with KJM Capital, LLC.

Headquartered in Oklahoma City, Oklahoma, Freymiller provides refrigerated load, dedicated refrigerated trucking, logistics brokerage, and intermodal transportation services over a national network of freight lanes. Supported by its efficient fleet of more than 600 tractors, in-house maintenance, and fleet dealership capabilities, Freymiller provides highly reliable, late-model equipment to support the time-sensitive needs of leading food and other cold chain distribution partners nationwide.

Freymiller offers this unique suite of highly complementary service offerings through a combination of an asset-based fleet, asset-light brokerage capabilities, and a full-service trucking dealership offering service and maintenance and financing. The company’s national network delivers freight in 48 states, serving a large and diverse customer base, and is one of the few temperature-controlled platforms of scale in the industry. Angeles and KJM will partner with Freymiller President and CEO David Freymiller to drive the next stage of the company’s growth.

Angeles is a private equity firm that invests in companies across a wide range of sectors and specifically targets businesses that can directly benefit from the firm’s deep expertise in operational transformation and strategic repositioning. Angeles’ investment in Freymiller originated from a targeted sector focus on differentiated transportation and logistics (T&L) providers. The Angeles and KJM teams’ experience partnering with T&L companies to build industry leaders 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.

KJM Capital invests in lower- to middle-market companies that serve business customers. KJM desires to partner with existing owners by providing operational expertise, including software applications and accounting/finance, to support continued growth with a focus on delivering exceptional customer service.

Houlihan Lokey served as the exclusive financial advisor to Freymiller and assisted in marketing, structuring, and negotiating the transaction on its behalf. This transaction exemplifies the continued momentum of the firm’s Transportation & Logistics practice and long-standing track record of delivering exceptional outcomes for its clients.