Business Wire

Lineage Logistics Announces $1.7 Billion in New Equity to Fuel Supply Chain Innovation and Growth

Share

Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it has raised $1.7 billion in equity from new and existing strategic partners. Participating investors include BentallGreenOak, CenterSquare Investment Management, Cohen & Steers, D1 Capital Partners, Healthcare of Ontario Pension Plan (HOOPP), NYSTRS, OP Trust, Oxford Properties, QuadReal Property Group, Rabobank, StepStone, and others.

“This latest round of funding is further validation of our business strategy and will be used to double down on our commitment to offering innovative, end-to-end supply chain solutions for our customers worldwide,” said Greg Lehmkuhl, President and CEO of Lineage. “As we head into 2022, this new equity gives us even more confidence in our ability to drive future growth opportunities for our business, the industry, and the wider food supply chain.”

The new capital will strengthen Lineage’s balance sheet and will fuel Lineage’s investments in industry-leading technology, including automation and proprietary software tools that help to improve supply chain efficiencies. It will also be used to fund Lineage’s growth through greenfield developments, facility expansions, and investments in clean energy initiatives.

“While Lineage has already achieved significant growth since its founding in 2008, the company remains as committed as ever to its promise of preserving, protecting, and optimizing the distribution of food,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Managing Partner at Bay Grove, which founded and manages Lineage Logistics. “Lineage’s continued growth and investments in technology and innovation would not be possible without our incredible investors. We are excited to have fresh capital from this latest funding to deploy in our business and create new solutions and capacity for our customers, particularly during this time of significant disruption in global supply chains.”

The equity raise follows Lineage’s latest funding round of $1.9 billion, announced in March 2021. The latest funding brings the total equity raised since January 2020 to $6 billion.

Morgan Stanley acted as financial advisors, and Latham Watkins served as legal counsel for Lineage.

About Lineage Logistics

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 19 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

About Bay Grove

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)

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Lineage Logistics
Megan Hendricksen
949.247.5172
mhendricksen@lineagelogistics.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Hillstone Networks Sets New Standard in Intelligent, Reliable and Automated Security Solutions With StoneOS 5.5R918.1.2022 17:00:00 CET | Press release

Hillstone Networks, a leading provider of infrastructure protection solutions, today introduced the latest iteration of its flagship StoneOS solution. “Organizations today demand a comprehensive, intelligent, high-performing and automated security solution that works. StoneOS delivers,” said Tim Liu, CTO & co-founder of Hillstone Networks. “This is a major upgrade resulting in unparalleled capabilities to help protect organizations, their critical assets and their workforces from the myriad of security threats they face every day.” 6 Key Updates to StoneOS 5.5R9 include: Machine learning technology leveraged to enhance intelligent detection and prevention – StoneOS leverages the latest ML-based data sets to help bolster DGA detection. The extended support of a cloud sandbox allows for improved unknown threat detection and enhanced intelligence sharing. Extended VPN capability delivers refined secure access for the remote workforce – The new additional VPN features support extended user

Mohammed bin Rashid honours 10 Winners of 2022 Zayed Sustainability Prize18.1.2022 16:02:00 CET | Press release

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, presented awards to the 10 winners of the 2022 Zayed Sustainability Prize yesterday. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220118005713/en/ Mohammed bin Rashid honours 10 Winners of 2022 Zayed Sustainability Prize (Photo: AETOSWire) The Prize’s Awards Ceremony coincided with the start of the 2022 Abu Dhabi Sustainability Week (ADSW). The ceremony was also attended by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. His Highness Sheikh Mohammed bin Rashid Al Maktoum congratulated winners across the five categories reaffirming the Prize’s key role in realising the aspirations of participants to achieve sustainable development within their communities. This year, the Zayed Sustainability Prize, along with ADSW, joined forces with Expo 2020 Du

Pricefx Closes 2021 With Best Quarter in Company History18.1.2022 15:30:00 CET | Press release

Pricefx, the global leader in cloud pricing software, today announced it closed the best quarter in company history due to strong customer and partner traction in 2021. With 26 deals closed in Q4 2021 and 34 new enterprise customers added in 2021, the company ended the year with 45% year-over-year annual recurring revenue (ARR) growth. Key new customers include American Tire Distributors, Extreme Networks, KeHe Distributors and Tamko Building Products. Additionally, Pricefx recorded 95% customer retention and closed 23 customer expansion deals. In 2021, Pricefx increased revenue growth with SAP by 140% over 2020. The Advantage Pricefx partner program continued to drive significant return on investment in 2021 with at least one partner engaged on 70% of new customers signed through co-selling, influencing, and/or implementing the Pricefx solution. Several global system integrators, such as the KPMG German member firm, joined Pricefx’s ecosystem broadening the company’s reach and deepeni

Andersen Global Broadens Footprint in Asian Market through Collaboration with Law Firm in Sri Lanka18.1.2022 15:30:00 CET | Press release

Andersen Global continues to expand its platform in the Asian market through a Collaboration Agreement with Varners, one of the largest full-service law firms in Sri Lanka. Led by Managing Partner Mahinda Haradasa, Varners specializes in banking and finance, commercial, intellectual property, litigation, real estate and telecommunications, international trade and dispute resolution. Located in Colombo, the firm operates with eight Partners and more than 50 professionals, serving clients at the local and international level. “Our professionals’ extensive industry knowledge and commitment to stewardship has allowed our firm to continually meet the demands of the ever-evolving legal landscape,” Mahinda said. “Our collaboration with Andersen Global is a milestone for us as we look to increase our global reach and meet our clients’ cross-border needs.” “Varners’ commitment to investing in its people and providing clients with best-in-class solutions resonates with our organization’s values

Weber Inc . Transforms Outdoor Cooking With Innovative 2022 Product Portfolio18.1.2022 15:05:00 CET | Press release

Weber Inc. (NYSE:WEBR), the global leader in outdoor cooking innovation, technology, and products, today unveiled the first three new products in its 2022 grilling portfolio. Designed to fuse the best in smart technology, high-quality materials, performance engineering, and craftsmanship, the 2022 GENESIS Smart Gas Grill, 2022 SMOKEFIRE Wood Fired Pellet Grill, STEALTH Edition, and all-new WEBER CRAFTED Outdoor Kitchen Collection take cooking outdoors to new levels of food discovery and exploration. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220118005538/en/ Weber Genesis Smart Gas Grill, Model EPX-335. (Photo: Business Wire) “Our product lineup for the upcoming barbecue season pushes the boundaries of the types of cooking that can be done outdoors, including bringing popular methods like flat top cooking and baking right to a WEBER grill,” said Jennifer Bonuso, Senior Vice President and General Manager, Global Product M

Rubicon Opens New Chile Office to Support Increasing Growth Across Latin America18.1.2022 15:00:00 CET | Press release

Rubicon Capital Advisors (“Rubicon”), one of the world’s leading investment banking firms focused on the broader infrastructure, energy and digital sectors, is pleased to announce the opening of a new office in Santiago de Chile. The opening of the Chilean office, which represents Rubicon’s third in the region, supports the firm’s continued global growth and investment in Latin America, which Rubicon considers a key growth market for the firm. Andres Onetto, who recently joined from Scotiabank, will head the firm’s investment banking and principal investment activities in Chile, Argentina, Paraguay and Uruguay in close cooperation with the firms offices in Mexico and Colombia. Felipe Caro will also join the company from Scotiabank as a Senior Analyst. Rubicon intends to make additional hires over the coming months. “I am delighted to join the Rubicon team at this particularly exciting time. The opening of the Chile office will allow clients unparalleled access to the Southern Cone toge

MSCI Announces Strategic Alliance With Menai Financial Group18.1.2022 14:04:00 CET | Press release

MSCI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, announced today its collaboration with Menai Financial Group (“Menai”), a leading provider of institutional-grade digital asset investment products and trading services. This strategic alliance marks one of MSCI’s first collaborations in the digital asset space. MSCI will aim to develop innovative tools for institutional investors seeking to capitalize on the growth of blockchain technology and digital assets. The collaboration between MSCI and Menai comes at a time when institutional investors are increasingly considering opportunities within the digital asset class. As investor interest grows, MSCI has recognized the demand for robust frameworks and analytical tools to help provide insights into performance, risk and classification within this emerging asset class. Menai’s expertise in digital assets will support MSCI’s development of the solutions instituti

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom