Consumer and retail-focused private equity firm Freeman Spogli Management Co. LP acquired a majority interest in pallet management service provider Kamps Pallets Inc.
Financial terms were undisclosed.
Founder and CEO Bernie Kamps will continue to lead the company and maintain significant ownership. President Mitchell Kamps, Chief Corporate Officer Brad Rietema, Vice President of Northern Operations Justin Kamps, CFO Phil Minster and other management team members also participated in the transaction.
Morgan Lewis and Bockius LLP acted as legal adviser to Freeman Spogli.
Miller Johnson Snell & Cummiskey PLC acted as legal adviser, and Lincoln International acted as financial adviser to Kamps.
Oaktree Capital Management LP, Adams Street Partners LLC and Comerica Inc. provided debt financing for the transaction.