Investment Criteria

Bay Grove's core focus today is building the Lineage Logistics platform. We are always looking for other great companies in the cold storage industry in the U.S. and overseas to bring into the Lineage family. We are also looking at ancillary businesses to cold storage that broadly participate in the temperature-controlled logistics space.

Cold Storage Criteria

Types of Businesses

  • Preferably companies that own their own real estate and are actively engaged in servicing customers

  • Companies with customers in the food / perishable product and pharmaceutical sectors

Size Criteria

  • Facilities with greater than 100,000 sq. ft. and preferably greater than 200,000 sq. ft.

  • Companies with EBITDA of greater than $2.5 million and preferably greater than $5 million

Real Estate Criteria

Types of Buildings and Assets

  • Distribution facilities and cold storage buildings in strong core markets

  • Cold storage, industrial and logistics buildings with existing tenants        

  • Food production facilities with active users

Types of Transactions

  • Purchases

  • Sale-Leasebacks

  • Build-to-Suit

Size Criteria

  • Facilities with greater than 100,000 sq. ft. and preferably greater than 200,000 sq. ft.

  • Transaction values of $10 million and preferably greater than $20 million

Temperature-Controlled Logistics Criteria

Types of Businesses

  • Transportation brokerage (not interested in trucking companies with leased or owned assets)

  • Customs brokerage with a majority of their revenue from frozen or refrigerated cargoes

  • Freight forwarders with a majority of their revenue from frozen or refrigerated cargoes

  • Value added suppliers with a majority of their revenue from frozen or refrigerated products

  • Intermodal solution providers

Size Criteria

  • Companies with EBITDA of greater than $1 million and preferably greater than $3 million   

Technology-Enabled Logistics Criteria

Types of Businesses

  • Technology companies operating in the logistics industry

  • Supply chain systems and platforms

  • Resource management and optimization tools

  • Analytics and big data solutions

Size Criteria

  • Preferably revenue generating companies