M&A Deal Summary

Bay Grove and Stonepeak Infrastructure Partners Acquires Lineage Logistics Holdings

On April 18, 2012, private equity firm Bay Grove and infrastructure investor Stonepeak Infrastructure Partners acquired transportation company Lineage Logistics Holdings LLC

Acquisition Highlights
  • This is Bay Grove’s 3rd and Stonepeak Infrastructure Partners’ 1st transaction in the Transportation sector.
  • This is Bay Grove’s 6th and Stonepeak Infrastructure Partners’ 1st transaction in the United States.
  • This is Bay Grove’s 1st and Stonepeak Infrastructure Partners’ 1st transaction in Michigan.

M&A Deal Summary

Date 2012-04-18
Target Lineage Logistics Holdings LLC
Sector Transportation
Buyer(s) Bay Grove
Stonepeak Infrastructure Partners
Deal Type Consolidation

Target

Lineage Logistics Holdings LLC

Novi, Michigan, United States
website
Lineage Logistics is an operator of warehousing and logistics company built to deliver sophisticated, customized, and dependable cold chain solutions. Lineage Logistics has one of the largest facility networks in the U.S. and an ever-expanding reach. Lineage Logistics was founded in 2012 and is based in Novi, Michigan.

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Buyer(S) 2

Buyer

Bay Grove

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
SizeSmall
Type Sector Agnostic
DESCRIPTION

Bay Grove Capital is a private investment group consisting of high-net worth individuals from various disciplines. The Group looks to source and execute $5 to $100 million direct investments, including buyouts and growth equity, as well as co-investments with partner funds. Sectors of interest include business services, consumer/retail, distribution/logistics, energy/power, media/entertainment, and manufacturing. Target companies generally have positive cash-flow, are located in the US and generate annual sales of $20 to $500 million. Bay Grove Capital was formed in 2007 and is based in San Francisco, California.


DEAL STATS #
Overall 6 of 6
Sector (Transportation) 3 of 3
Type (Consolidation) 1 of 1
State (Michigan) 1 of 1
Country (United States) 6 of 6
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-18 Richmond Cold Storage Co. LLC

Richmond, Virginia, United States

Richmond Cold Storage Co. LLC is a provider of third-party temperature-controlled warehousing, distribution and logistical services for a multitude of food producers, processors, and distributors. These services are provided through dedicated and public distribution facilities that are developed around the customer's specific needs and requirements necessary to meet their supply chain objectives. Richmond Cold Storage Co. was founded in 1907 and is based in Richmond, Virginia.

Sell -
Buyer

Stonepeak Infrastructure Partners

Investor Investor Investor Investor

website


Category Infrastructure
Founded 2011
PE ASSETS 37.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Stonepeak Infrastructure Partners is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stone peak Infrastructure Partners was formed in 2011 and has offices in New York City and Houston.


DEAL STATS #
Overall 1 of 23
Sector (Transportation) 1 of 3
Type (Consolidation) 1 of 2
State (Michigan) 1 of 1
Country (United States) 1 of 15
Year (2012) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Orion Water Partners LLC

Carlsbad, California, United States

Orion Water Partners is a joint venture to construct, own and operate the Carlsbad Desalination Plant. Completed in December 2015 after a three-year construction process, the Carlsbad Desalination Plant is the largest seawater desalination plant in the Western Hemisphere. The plant produces as much as 10% of San Diego’s drinking water under a 30-year off-take agreement with the San Diego County Water Authority, ensuring drought-proof supply for nearly a half-million residents of Southern California.

Buy -