O’Melveny Advises Kayne Partners on FreightWaves Investment

July 28, 2020, 6:55 PM

O’Melveny & Myers said it represented Kayne Partners, the growth equity group of Kayne Anderson Capital Advisors, L.P., on its $30 million minority investment in FreightWaves, a Chattanooga, Tenn.-based provider of freight data and analytics.

FreightWaves in a statement said it has raised $37 million in two capital rounds since April, including Kayne Partners’ investment, which buys a minority, non-controlling stake. FreightWaves said it has raised $75 million overall to accelerate its growth as a software as a service provider in a global logistics industry worth $9.6 trillion.

According to FreightWaves, its other investors include 8VC, Fontinalis Partners, Revolution Ventures, Hearst Ventures, Prologis Ventures, Story Ventures, and Engage Ventures.

FreightWaves said its existing management, led by founder and CEO Craig Fuller, president George Abernathy and chief financial officer Spencer Piland, will continue to run the business.

Los Angeles-based Kayne Anderson Capital Advisors said it has $29 billion under management. The group said it focuses investments on enterprise software and tech-enabled services businesses in North America.

To contact the reporter on this story: Rick Mitchell in New York at Rmitchell@correspondent.bloomberglaw.com

To contact the editor on this story: Rebekah Mintzer in New York at rmintzer@bloomberglaw.com
Chris Opfer in New York at copfer@bloomberglaw.com

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