Lineage Acquires Flagship Wisconsin Cold Storage Facility and Buys Portfolio of Leased SE Warehouses
Posted in Acquisitions
Novi, MI – June 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 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.