EQT to Buy Cold Storage Provider Constellation Cold Logistics

By Dominic Chopping

STOCKHOLM--EQT will acquire Constellation Cold Logistics, a cold storage owner-operator in Europe, it said Monday.

The Swedish private-equity firm will buy Constellation from Arcus Infrastructure Partners, who established the company in 2020.

U.K.-based Constellation Cold Logistics provides temperature-controlled storage infrastructure to food producers via a network of 26 storage facilities across seven countries in western Europe and the nordics. Headquartered in London, it employs 700 people and is expected to generate revenue of more than 150 million euros ($160.4 million) in 2024, it said.

"EQT will support Constellation as it looks to further entrench its market-leading position, execute identified M&A opportunities and deliver major expansion developments within Europe," it said in a statement.

The transaction is expected to close in October 2024, subject to regulatory approvals.

With the deal, EQT Infrastructure VI is expected to be 40%-45% invested.

Financial terms weren't disclosed.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

06-24-24 0625ET