North Texas Healthcare Supply Chain Specialist Gets ‘Big’ Boost From Blackstone

Private equity giant Blackstone is making a “significant” investment in a North Texas-based supply chain company specializing in health products.

Blackstone’s undisclosed stake in Life Science Logistics is intended to accelerate the company’s expansion into the pharmaceutical and medical device markets.

Founded in 2006 by Richard Beeny and based near DFW International Airport, LSL employs over 600 people and operates 4 million square feet of cold storage and logistics space in major hubs in nine states, including Texas , New York and Washington.

In recent months he has added a 440,000 square foot facility in Indiana and a 132,000 square foot facility in North Carolina to his holdings.

“With a relentless demand for high quality, flexible and FDA compliant healthcare supply chain solutions in recent years, LSL has experienced exponential growth coast to coast,” said Beeny in a statement. “Now, thanks to Blackstone’s investment and partnership, we are excited to see what the future holds and to put their deep resources to serve our customers. “

LSL plans to open new facilities and expand its customer base. He works with governments, healthcare manufacturers and supplier networks.

“LSL sits at the intersection of two of Blackstone’s most compelling company-wide investment themes – the rapid advancement of innovation in next-generation life sciences and logistics.” , said a statement from Blackstone executives Ram Jagannath and Todd Hirsch.

New York-based Blackstone is the world’s largest alternative asset manager, with $ 731 billion under management.

In October, Blackstone said its profit nearly doubled in the third quarter – from $ 794.7 million last year to $ 1.4 billion this year – and was being driven by high-growth areas like real estate, technology, logistics and life sciences.

Its investments in Dallas-Fort Worth include a contractor management software company and an apartment complex in Plano.