Total amount raised
$9.4 Billions
Latest funding date
12/01/2022
Location
Lineage Logistics has successfully raised significant funding through various rounds, including a recent Private Equity round closed on December 20, 2022. The company is backed by notable investors such as Stonepeak and D1 Capital Partners, among others.
With a valuation target of up to $19.2 billion in its US IPO, Lineage Logistics continues to expand its footprint in the temperature-controlled logistics and supply chain solutions industry. Keep reading to explore the intricacies of Lineage Logistics' fundraising journey and the investors backing this innovative platform.
What Is Lineage Logistics?
Lineage Logistics, founded in 2012, is headquartered in Novi, Michigan. The company was established by Adam Forste and Kevin Marchetti. It operates in multiple industries, including food delivery, food processing, logistics, supply chain management, and warehousing.
With a workforce exceeding 10,000 employees, Lineage Logistics is a global leader in temperature-controlled logistics and supply chain solutions. The company is renowned for its innovative approaches to food safety, distribution efficiency, and sustainability, serving a diverse range of customers from large corporations to small businesses.
How Much Funding Has Lineage Logistics Raised?
- Amount Raised: $2.6M
- Date: September 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion in the logistics sector.
- Amount Raised: $1.6B
- Date: September 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund acquisitions and expand the company's temperature-controlled logistics network.
- Amount Raised: $700M
- Date: July 2018
- Lead Investors: D1 Capital Partners, Stonepeak
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance infrastructure and support the company's growth initiatives.
- Amount Raised: $1.9B
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's expansion and acquisition strategy.
- Amount Raised: $2.8B
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund debt financing for further growth and expansion.
- Amount Raised: $1.7B
- Date: January 2022
- Lead Investors: D1 Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand infrastructure and enhance sustainability initiatives.
- Amount Raised: $700M
- Date: December 2022
- Lead Investors: Stonepeak, D1 Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support new development projects and clean energy deployments.
Total Amount Raised: $9.4B. Current Valuation: Not publicly disclosed.
Key Investors
- Stonepeak
- Details: Stonepeak is a private equity firm specializing in infrastructure and real assets. The firm is headquartered in New York City.
- Investment Focus Areas: Infrastructure, real estate, energy.
- Notable Investments: Cologix, Astound Broadband, CoreSite.
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that deploys capital in both public and private markets. It was founded by Daniel Sundheim.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: SpaceX, Stripe, Instacart.
- Bay Grove Capital LLC
- Details: Bay Grove Capital LLC is a San Francisco-based private equity firm that owns Lineage Logistics. The firm was co-founded by Adam Forste.
- Investment Focus Areas: Cold storage, logistics, warehousing.
- Notable Investments: Lineage Logistics, Grupo Fuentes, Frigorificos de Navarra.
What's Next for Lineage Logistics?
Lineage Logistics is poised for significant growth, driven by its ambitious expansion projects and clean energy initiatives. With over $700 million in new equity, the company plans to develop automated warehouses in Southern California and the Northeast, adding over 700,000 new pallet positions. This expansion aligns with industry trends towards automation and sustainability, positioning Lineage to meet increasing global demand for temperature-controlled logistics solutions.
Future fundraising opportunities appear promising, as investor confidence remains high. The company aims to continue raising equity to support its greenfield projects and clean energy deployments, targeting carbon neutrality by 2040. However, challenges such as macro-economic headwinds and capital market volatility could impact these plans. Despite these hurdles, Lineage's commitment to innovation and sustainability suggests a bright future ahead.
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