Lineage Logistics Acquires Flagship Wisconsin Cold Storage and Buys Portfolio of Leased Warehouses in Southeast
NOVI, Mich.--(BUSINESS WIRE)--Jun 5, 2018--Lineage Logistics, LLC (“Lineage”), the world’s most innovative and trusted provider of temperature-controlled supply chain solutions, today announced it has acquired Wisconsin-based cold storage provider, Service Cold Storage (“SCS”) as well as a portfolio of four leased cold storage warehouses in strategic markets across the Southeast. Financial terms of the transactions were not disclosed.
The acquisition of SCS establishes a flagship operation in the state of Wisconsin for Lineage and adds to the organization’s robust facility network in the Midwest. Located in Central Wisconsin’s Stevens Point, the current SCS facility is less than 5 years old and spans over 11 million cubic feet of temperature-controlled storage space. Construction on a significant expansion is underway that will bring the facility footprint to nearly 20 million cubic feet and provide more needed capacity to support customer growth.
“Lineage’s Midwest operations provide customers with unparalleled storage flexibility and access to value-added solutions, and the addition of our first Wisconsin location strengthens our ability to create efficiencies across customer supply chains,” said Greg Lehmkuhl, President & CEO of Lineage Logistics. “We are thrilled to welcome the SCS team to the Lineage family and to grow our Midwest presence.”
“We believe joining Lineage will help us to deliver ever greater value to our customers and to create more opportunities for our employees,” said SCS President & CEO Les Dobbe. “We look forward to being a part of Lineage’s innovative and growing network.”
“SCS is known for its strong team, commitment to customer service and operational excellence,” said Kevin Marchetti, Managing Partner of Bay Grove, Lineage’s principal investment firm. “They are a special organization, and we are honored SCS chose to join forces with Lineage.”
The acquisition of SCS is announced on the heels of Lineage’s purchase of a portfolio of four leased cold storage facilities, located in Georgia, Louisiana, South Carolina and Virginia.
About Lineage Logistics, LLC: Lineage Logistics is the industry’s leading innovator in temperature-controlled supply chain and logistics. Lineage’s expertise in end-to-end logistical solutions, its unrivaled real estate network, and its use of technology combine to promote food safety, increase distribution efficiency, advance sustainability, lessen environmental impact, and minimize supply chain waste. As a result, Lineage helps customers ranging from Fortune 500 companies to small family-owned businesses increase the efficiency and protect the integrity of their temperature-controlled supply chain. ( www.lineagelogistics.com )
About Bay Grove, LLC: Bay Grove is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Since 2008, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, customers and employees. The firm has deep experience in the warehousing and logistics industry and also seeks to make investments in other attractive sectors. Bay Grove is based in San Francisco. ( www.bay-grove.com )
About Service Cold Storage: Service Cold Storage offers the most modern, state-of-the-art, temperature-controlled warehouse in the state of Wisconsin and specializes in developing partnership programs customized to meet any company’s logistical needs. Founded in 2013, Service Cold Storage is committed to customers, community, employees and sustainable growth through technology and accuracy. ( www.servicecold.biz )
View source version on businesswire.com:https://www.businesswire.com/news/home/20180605005489/en/
CONTACT: Lineage Logistics
Megan Hendricksen, 949-247-5172
KEYWORD: UNITED STATES NORTH AMERICA MICHIGAN WISCONSIN
INDUSTRY KEYWORD: TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Lineage Logistics
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PUB: 06/05/2018 08:00 AM/DISC: 06/05/2018 08:01 AM