Investment Summary

Bay Grove, Stonepeak and Morgan Stanley Tactical Value Investing Exits Lineage

On July 26, 2024, invested in real estate company Lineage from Bay Grove, Stonepeak and Morgan Stanley Tactical Value Investing

Investment Highlights
  • This is transaction in the Real Estate sector.
  • This is transaction in the United States.
  • This is transaction in Michigan.

Investment Summary

Date 2024-07-26
Target Lineage
Sector Real Estate
Sellers(s) Bay Grove
Stonepeak
Morgan Stanley Tactical Value Investing
Deal Type IPO

Target

Lineage

Novi, Michigan, United States
Lineage is a warehousing and logistics company built to deliver sophisticated, customized, and dependable cold supply solutions for a variety of customers worldwide. Lineage was founded in 2012 and is based in Novi, Michigan.

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Seller(S) 3

SELLER

Bay Grove

San Francisco, California, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2007
Size Small
Type Sector Focused
DESCRIPTION

Bay Grove is a private investment group principally focused on logistics and related assets. The Firm looks to build a long-term platform with a specific interest in temperature-controlled assets, technology-enabled logistics services, cold storage, and other related businesses. Bay Grove was formed in 2007 and is based in San Francisco, California.


DEAL STATS #
Overall 6 of 6
Sector: Real Estate M&A 3 of 3
Type: IPO M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 6 of 6
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-18 CityIce Cold Storage

Seattle, Washington, United States

CityIce Cold Storage, Inc. provides a full range of cold storage services including racked and un-racked storage, blast freezing, rail/truck transloading, on-dock cold storage, direct vessel discharge, and adjacent custom seafood processing. CityIce Cold Storage is based in Seattle, Washington.

Sell -
SELLER

Stonepeak

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2011
PE ASSETS 73.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stonepeak 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. Stonepeak was formed in 2011 and is headquartered in New York City.


DEAL STATS #
Overall 10 of 10
Sector: Real Estate M&A 1 of 1
Type: IPO M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 9 of 9
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-26 AA

Basingstoke , United Kingdom

AA provides roadside assistance serving 14 million members with approximately 2,700 patrols attending an average of 9,000 breakdowns daily. The company provides services across its roadside businesses from AA Driving School and BSM, to DriveTech, the leader in driver education. In addition, AA Smart Care provides bookings for MOTs, maintenance, service, and repair in AA-certified garages. AA is based in Basingstoke , United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-04 Atsg

Wilmington, Ohio, United States

Atsg is a provider of aircraft leasing and cargo and passenger air transportation solutions for both domestic and international air carriers, as well as companies seeking outsourced airlift services. Atsg was founded in 1980 and is based in Wilmington, Ohio.

Buy $3.1B
DESCRIPTION

Morgan Stanley Tactical Value Investing is an opportunistic investment group within Morgan Stanley focused on flexible capital solutions across asset classes, sectors, and geographies. The group will consider a variety of investment solutions including preferred equity, asset-backed loans, recapitalizations, PIPEs, and junior/senior debt. Morgan Stanley Tactical Value Investing is headquartered in New York City.


DEAL STATS #
Overall 2 of 2
Sector: Real Estate M&A 1 of 1
Type: IPO M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-08 Buyers Edge Platform

Waltham, Massachusetts, United States

Buyers Edge Platform is a provider of procurement software, group purchasing, and data analytics to the food service industry. Buyers Edge Platform was founded in 2018 and is based in Waltham, Massachusetts.

Buy -