Investors - MARCH 15, 2019

Related Cos., Green Partners to compete with Amazon

by Andrea Zander

Related Companies and Greenfield Partners have jointly acquired Quiet Logistics, a fulfilment 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 fulfilment capabilities.

With this acquisition, Related Cos. and Green Partners could compete with Amazon.

Quiet Logistics is a fulfillment center specialist and logistics company specifically designed for digital-first brands with fulfillment centers outside Boston and St. Louis. And Quiet Logistics specializes in working with direct-to-consumer companies.

“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,” said Michael Winston, managing director of Related Fund Management. “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 in technology-driven third-party fulfilment 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 fulfilment centers, and an innovative, efficient and reliable model.”

Quiet Logistics integrates robotic technology, robust proprietary software systems and human touch to deliver the next generation of post-click fulfilment services with unprecedented speed and precision. The company currently offers national services through several East Coast and Midwest fulfilment centers, shipping more than $1 billion of e-commerce orders for customers including Bonobos, Outdoor Voices, Mack Weldon, AWAY and Love Your Melon. Quiet Logistics is the fulfilment provider to both Mack Weldon and M.Gemi’s first permanent stores at Related’s Hudson Yards.

Eugene (Gene) Gorab, president and CEO of Greenfield Partners, added, “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 fulfilment 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.”

The new ownership will continue to build upon Quiet Logistics’ strong position in the marketplace and unrivalled expertise in both fulfilment operations and innovative warehouse solutions.

The company will expand its network of fulfilment 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 fulfilment services to its retail partners around the world.

Bruce Welty, Quiet Logistics founder, has returned to the company as CEO, and will continue to work with the existing management team as he grows the business. Welty has more than 30 years of experience in the fulfilment business, and in addition to founding Quiet Logistics, also founded Locus Robotics, a purpose-built robotics solution for the fulfilment industry.

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