ATLANTA--(BUSINESS WIRE)--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.
“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.”
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. More information can be found at www.TeamOneLogistics.com.