Strategic Investment Recognizes Rapidly Expanding E-Commerce Needs of Both Digitally Native and Brick-and-Mortar Brands
Infusion of Capital and Owned-Facilities Growth Plan Will Allow Quiet Logistics to Expand its Strong Leadership Position in the Marketplace and Offer Clients Unrivaled Capabilities in Fulfillment Operations
NEW YORK, NY – March 13, 2019 – Related Companies, a global real estate and lifestyle company known for large-scale neighborhood developments, and Greenfield Partners, a thought-leader in property investing and logistics specialist, today announced the joint acquisition of Quiet Logistics, Inc., an innovative fulfillment partner to premium apparel and lifestyle brands. Related, through its fund management platform, has teamed up with Greenfield Partners to expand Quiet Logistics’ operating platform and fulfillment capabilities.
Quiet Logistics integrates cutting-edge robotic technology, robust proprietary software systems and human touch to deliver the next generation of post-click fulfillment services with unprecedented speed and precision. The company currently offers national services through several East Coast and Midwest fulfillment centers, shipping over $1 billion of e-commerce orders for customers including Bonobos, Outdoor Voices, Mack Weldon, AWAY and Love Your Melon. Quiet Logistics is the fulfillment provider to both Mack Weldon and M.Gemi’s first permanent stores at Related’s Hudson Yards.
The new ownership will continue to build upon Quiet Logistics’ strong position in the marketplace and unrivaled expertise in both fulfillment operations and innovative warehouse solutions. The company will expand its network of fulfillment centers to the West Coast and Midwest, extending globally in the coming years. This will enable Quiet Logistics to provide faster and more cost-effective delivery direct to consumer, as well as seamless omni-channel fulfillment services to its retail partners around the world. Quiet Logistics Founder Bruce Welty, a pioneer and visionary in both robotics and e-commerce, has returned to the company as Chief Executive Officer, and will continue to work with the existing management team as he grows the business. Mr. Welty has over 30 years of experience in the fulfillment business, and in addition to founding Quiet Logistics, also founded Locus Robotics – a purpose-built robotics solution for the fulfillment industry.
Bruce Welty, CEO of Quiet Logistics, said, “I am thrilled to return to Quiet Logistics, to help as we enter a new phase of growth. This significant investment and strategic expansion strategy will allow us to deliver an even more differentiated product, better customer service, and more efficient seamless fulfillment services to our retail partners.”
Michael Winston, Managing Director of Related Fund Management, said, “Related has developed some of the most successful retail developments in the United States and we are acutely aware of the challenges and opportunities presented by omni-channel e-commerce. Related has also previously invested in customer-focused operating businesses – including both Equinox and SoulCycle – whose continued growth was predicated upon a significant expansion of and investment in their real estate portfolios. Quiet Logistics has an incredibly strong management team that marries deep knowledge of and expertise intechnology-driven third-party fulfillment operations with an exceptional team of innovators in robotics design and development. Our investment and corporate synergies offer a unique opportunity to grow the business and even better service current and future customers with a strong capital base, state-of-the-art fulfillment centers, and an innovative, efficient and reliable model.”
Eugene (Gene) Gorab, President and CEO of Greenfield Partners, said, “As leading investors in logistics properties for over two decades, we are eager to once again play a leadership role anticipating the rapidly changing needs of forward-thinking brands and retailers. We are pleased to partner with Related to create the supply chain for the next century. The logistics and retail markets are undergoing a secular metamorphosis. Brands and fulfillment firms alike seek to rationalize cost structures, increase delivery performance, and deliver consistently high service levels across channels. This partnership was built to leverage our collective skills, but more importantly, it was designed to enable our stakeholders to excel in today’s competitive environment.”
ABOUT QUIET LOGISTICS:
Quiet Logistics partners with premium fashion and lifestyle brands to deliver flagship fulfillment services. With proprietary software and best-in-class technology (featured on CNN, Wired and The Business of Fashion), Quiet helps companies grow quickly without compromising quality, scaling up at high speed while maintaining unprecedented order accuracy. At the same time, their sartorial savvy, obsessive attention to detail and ability to finesse the post-transaction process allow them to present a highly customized brand experience on behalf of their clients.
In addition to traditional third-party fulfillment, Quiet offers Managed Services, an "insourced" approach to fulfillment operations that leverages Quiet's technology, processes and management in client-owned distribution centers.
For more information about Quiet Logistics, please visit www.quietlogistics.com [relatedcompanies.pr-optout.com].
ABOUT RELATED COMPANIES:
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of over 3,800 professionals. With over $50 billion in assets owned or under development including the 28-acre Hudson Yards neighborhood development on Manhattan’s West Side, The Grand and Related Santa Clara in California and The 78 in Chicago. Related was recently named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World. Related also has significant experience investing in operating businesses of the including its acquisitions of both Equinox and SoulCycle.
Related Fund Management is the investment management arm of Related, and is staffed by a seasoned team of over 40 professionals. Since inception, Related Fund Management has raised over $5 billion of capital across a variety of different investment vehicles and strategies. The platform is primarily focused on opportunistic real estate investments; the origination and acquisition of debt; multifamily housing opportunities; and investments in infrastructure-related development, management and services.
For more information about Related, please visit www.related.com .
ABOUT GREENFIELD PARTNERS, LLC:
Greenfield Partners is a leading private real estate investment firm headquartered in Westport, CT with additional offices in Chicago, IL, and Austin, TX. Over its 22-year history, Greenfield has become known as a thought-leader in the logistics, boutique hospitality, and land finance sectors, and has invested over $5 billion in equity across multiple asset types. The firm’s investments have spanned the U.S., Canada, and Europe, and have taken the form of both equity and opportunistic debt.
For more information about Greenfield Partners, please visit www.greenfieldpartners.com.