Georgia Oak Partners has put an undisclosed amount of money into TeamOne Logistics, an Alpharetta, Ga. based provider of employee services, including recruitment and screening. Terms were not released.
PRESS RELEASE
Georgia Oak Partners has announced an investment in TeamOne Logistics, an
Alpharetta, GA based provider of workforce solutions to companies with
transportation or warehousing related functions. Founded in 2003, 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.
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, 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 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.”
This investment in TeamOne marks the inaugural transaction for Georgia Oak
Partners. Georgia Oak is seeking to invest in privately held businesses in
Georgia and the broader Southeast with revenues of $10 to $100 million. “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 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.”
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.
About Georgia Oak Partners
Georgia Oak Partners is a highly differentiated investment platform focused on
growth private equity investments in the Southeast US. Georgia Oak seeks to
invest $2 to $10 million in privately owned companies in the transportation,
manufacturing, business services, and consumer or restaurant sectors. Georgia
Oak`s team includes seasoned industry executives who work to supplement
incumbent management teams. More information can be found at
www.GeorgiaOakPartners.com.
About TeamOne Logistics
TeamOne Logistics is a leader in the contract staffing and logistics arena,
providing strategic solutions involving workforce staffing, dedicated fleet, and
warehousing operations to help clients achieve business performance goals, save
time and reduce cost.
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