Fenway Partners has acquired a majority interest in Preferred Freezer Services. The management of the company holds a minority interest. Financial terms of the transaction were not disclosed.
Preferred Freezer is the fifth-largest company and one of the fastest growing in the public refrigerated warehousing industry in the United States. Operating through 23 facilities nationwide, Preferred Freezer is the largest provider of storage for frozen seafood.
Preferred Freezer's founder and chief executive John Galiher and other members of senior management will continue to run the company and will retain an approximate 25-percent ownership stake in the company.