Georgia Oak Partners has made an investment in TeamOne Logistics, a provider of staffing and related services to transportation companies. This investment in TeamOne marks the inaugural transaction for Georgia Oak Partners.
TeamOne Logistics is a provider of workforce staffing, dedicated fleet, and warehousing operations to companies with transportation or warehousing related functions. TeamOne specializes in employee services, including recruitment and screening, training and development, benefits, risk management and compliance. With approximately $50 million in revenue, TeamOne has more than 750 employees across 26 states. The company was founded in 2003 and is based in Alpharetta, GA (www.teamonelogistics.com).
Georgia Oak Partners funded the transaction with equity from its syndicate of investors, including Southeast-based executives and institutional investors. Financing for the transaction was provided by the Commercial Banking Division of The Brand Bank.
Georgia Oak is partnering with the existing management of TeamOne Logistics, including founder Jerry Gray. A 30-year veteran in the transportation and logistics industry, Mr. Gray continues as President of TeamOne. “The Georgia Oak partnership is an exciting next step for us and will bolster our top-line growth strategy,” said Mr. Gray. “It is important to us that Georgia Oak brings a local, relationship-based approach. We are excited about this next phase of growth and the benefits this partnership will provide to our customers and employees.”
“We are thrilled to partner with the experienced leaders at TeamOne,” said Michael Lonergan, Managing Director of Georgia Oak. “It has become increasingly challenging for companies with private truck fleets to navigate today’s operating environment. The shortage of truck drivers, increased regulations and rising insurance costs are trends that are expected to continue. We believe TeamOne is well-positioned to assist companies in managing the various complexities of transportation workforce management.”
Georgia Oak seeks to invest $2 million to $10 million in Southeast US based companies with revenues of $10 million to $100 million. Sectors of interest include business services, including transportation and logistics; consumer products and services, including restaurants; niche and specialty manufacturing; and packaging and materials, including value-added building products. The firm is based in Atlanta (www.GeorgiaOakPartners.com).
“Our investment in TeamOne launches Georgia Oak Partners on our mission to help grow ‘backbone economy’ undercapitalized companies in our region,” said A.D. Frazier, President of Georgia Oak. “We believe that the Southeast region will return to GDP growth rates greater than the US as a whole due to long-term fundamentals, which remain favorable. Our approach is to invest as a partner, alongside owners who are deeply passionate about the growth prospects of their businesses.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-7-13
