A lot of money for Lineage Logistics
Lineage Logistics, a major player in temperature-controlled logistics since 2008, has raised USD 1.9 billion in equity from new and existing strategic partners for investments in facilities and technologies.
Among the investors are Bentall Green Oak, D1 Capital Partners, Oxford Properties, Center Square Investment Management, MS Tactical Value and Conversant Capital, OP Trust and Cohen & Steers.
Greg Lehmkuhl, president and CEO of Lineage: “This raise comes after an earlier one of USD 1.6 billion in September 2020.”
The company also transformed its capital structure with a new USD 2.8 billion revolving credit facility and term loan A.
Additionally, the new equity will be deployed, in part, to fund greenfield development and facility expansion projects in its North American, European and Asian-Pacific operating regions.
Currently, Lineage has completed or has pending construction in six spots in the USA and in six international markets: Aarhus (Denmark) Gdansk (Poland) Hanoi (Vietnam) Heywood and Peterborough (UK) and Tauranga (New Zealand). (sh)