PARIS: Brentwood-based logistics company OHL has agreed to be acquired by Geodis, a French company that bills itself as Europe’s No. 4 supply chain operator.
Financial terms of the looming deal were not disclosed in a release but media reports list an $800 million acquisition price.
Once the transaction is finalized after regulatory approvals, OHL will be rebranded Geodis (stylized as “GEODIS”). It will be financed with available cash resources and through existing and new debt, according to the release.
Founded in 1951, OHL (Ozburn-Hessey Logistics) operates more than 120 North American distribution centers spanning 36 million square feet of flexible warehouse space. OHL’s annual revenue has been reported at about $1.2 billion, with the company employing more than 8,000 people.
OHL provides global supply chain management solutions including transportation, warehousing, customs brokerage, freight forwarding and import and export consulting services.
Geodis, which is fully owned by SNCF Logistics (a.k.a. the French National Railway Company), operates in more than 67 countries through five lines of business. The company has roughly 120,000 customers, about 30,000 employees and annual revenue of approximately $6.8 billion, according to the release.
Private equity firm Welsh, Carson, Anderson & Stowe owns OHL. WCAS focuses investment in both information/business services and health care. Since its founding in 1979, it has organized 16 limited partnerships with capital of more than $22 billion.
“We are excited to join forces with GEODIS and look forward to the extended reach of a worldwide group,” Randy Curran (pictured), OHL CEO, said in the release. “Both organizations have a long tradition of finding world-class supply chain solutions for customers in pursuit of the superior customer experience.”
