Private equity firm Angeles Equity Partners, LLC (Angeles) announced the acquisition of a majority stake in a prominent family-owned refrigerated carrier on Wednesday.

In a June 22 press release, Angeles announced that they have acquired a majority stake in Oklahoma City, Oklahoma-headquartered carrier Freymiller.

Financial terms were not disclosed.

Freymiller operates approximately 600 tractors and employs about 600 drivers, according to the FMCSA’s SAFER website.

“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,” said David Freymiller, CEO of Freymiller. “I am looking forward to the next chapter in our company’s story in partnership with Angeles, as we provide more opportunities for our team members and expand partnerships with our customers.”

“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,” said Sam Heischuber, Principal at Angeles. “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.”

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