Ozburn-Hessey $140 million term B add-on to launch Wednesday

By Sara Rosenberg

New York, June 12 -Ozburn-Hessey Logistics LLC has scheduled a bank meeting for Wednesday to launch its proposed $140 million term loan B add-on, according to a market source.

Morgan Stanley is the lead bank on the deal.

Price talk on the add-on is still to be determined, the source added.

Proceeds from the incremental term loan debt will be used to fund the acquisitions of Barthco International Inc., a Philadelphia-based logistics organization, and Turbo Logistics, a Gainesville, Ga.-based logistics management services company.

Ozburn-Hessey is a Brentwood, Tenn.-based third party logistics provider.

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