Dive Brief:
- OneCompass Holdings, an employee-owned company, has entered into a definitive agreement to purchase Koleaseco, a Hudsonville, Michigan-based carrier, according to a July 23 press release.
- Following the transaction, Koleaseco will become a part of Hyway Trucking, a division of Dublin, Ohio-based Hyway Transportation, a OneCompass portfolio company. The deal is expected to close on or before Aug. 22.
- Koleaseco and Hyway — which share several large customers — have the same approach to asset-based operations, the release said. OneCompass believes the synergies will accelerate the combined company’s ability to compete and grow on a national scale.
Dive Insight:
Since its founding in 2024, OneCompass has been on an logistics-focused acquisition spree, scooping up Hyway Transportation, Evolve Global Logistics and AmShaw Service Center.
The purchase of Koleaseco aligns with OneCompass’ long-term strategy “to build a nationally competitive transportation platform,” the release said.
The carrier, which transports refrigerated goods, beverages and fresh produce, has a fleet of 128 power units and 148 drivers, according to data from the Federal Motor Carrier Safety Administration.
Hyway Trucking is similarly sized with 130 power units and the same number of drivers. Koleaseco will rebrand under the Hyway Trucking name once the deal is finalized.
“Their team and capabilities are a great addition to the Hyway network and will play a key role in speeding up our shared vision for national growth,” OneCompass Chairman and CEO Matt Hartman said in the release. “We're especially pleased to integrate their people into our employee ownership model, where they can help shape the future and share in the success they contribute to."
Hartman has also been at the helm of Columbus, Ohio-based FST Logistics since March 2020, per his LinkedIn profile. FST Logistics is the parent company of Hyway Transportation.
Unlike traditional holding companies that are owned by private equity or a single investor, OneCompass is an employee stock ownership plan holding company, meaning it is owned by its employees across those businesses, according to its website.
Aside from its preference for the logistics industry, OneCompass is building its portfolio with a specific strategy, including:
- Opportunities to turn around distressed businesses with high future potential.
- Businesses with earnings before interest, taxes, depreciation, and amortization between $2 million and $15 million.
- Businesses that are located within a 200-mile radius of Columbus, Ohio — unless there’s an opportunity to expand in a strategic region.
