Vertical Cold Storage Closes MWCold Acquisition

KANSAS CITY, Mo.–(BUSINESS WIRE)–Vertical Cold Storage, a developer and operator of temperature-controlled distribution centers sponsored by real estate investment firm Platform Ventures, finalized the purchase of MWCold, operator of two strategically located temperature-controlled warehouse facilities in central Indiana. Terms of the deal were not disclosed.

“We are excited to welcome the MWCold team to Vertical Cold and provide them with the opportunity to continue to grow personally and professionally as we serve our customers by embracing the unique complexities of the temperature-controlled supply chain. We are a team of cold storage veterans focused on integrating the people, processes and technology of our growing network as quickly as possible so we can deliver a consistent level of quality service throughout our network,” said West Hutchison, President and CEO of Vertical Cold Storage.

“The MWCold acquisition serves as an excellent example of how the experienced team at Vertical Cold and Platform Ventures can perform due diligence quickly and discreetly to ensure sellers maximize their value with a well-capitalized company that will honor their legacy and provide new opportunities to all stakeholders.”

The MWCold Indianapolis warehouse is a 390,000 sf /10.1M cf multi-modal facility with 33,000 pallet positions and 46 dock doors. It is dual rail-served by CSX and Norfolk Southern, and features blast freezing, export services and quick thaw. The MWCold Pendleton warehouse is northeast of Indianapolis and can handle a variety of temperature zones, including -20°F for ice cream and other frozen products. It is 159,000 sf / 5.3 M cf, with 19,600 pallet positions and has 15 dock doors.

“The close of this transaction helps leverage Vertical Cold’s position within the industry and establishes the company as a premier service provider. We look forward to further expanding the facilities network and enhancing the support offering for both current and potential customers,” said Ryan Anderson, Co-President & Co-Founder of Platform Ventures.

About MWCold

MWCold is a fourth-generation, family-owned business with locations in Indianapolis and Pendleton, IN, recognized as a premier logistics provider of multi-temperature warehouse services in the Midwest region. We provide warehouse services to the food, pharmaceutical and manufacturing industries. Our company offers over 545,000 square feet of strategically located, sprinklered, multi-temp space in two central Indiana locations offering inside rail, 61 doors, separate rooms and -20° capabilities with racked and bulk areas. We feature CCTV, EDI, WMS, RF scanners, a web portal with online, real-time access to activity reports and temperature and climate monitoring.

About Vertical Cold Storage

Vertical Cold Storage is an industry leader in delivering reliable, flexible, and cost-effective cold storage and logistics solutions for the food and beverage industry. We are committed to giving our customers the competitive edge they need to consistently thrive in the complex and ever-evolving business environment of perishables. We offer temperature-controlled cold storage warehousing and distribution solutions in the cities and surrounding areas of Chicago, Dallas, Omaha, Charlotte, Miami and more. Our services are backed by a goal-oriented team of industry veterans and cutting-edge technology with a singular focus on quality results and excellent customer service. Vertical Cold is focused on acquiring and integrating existing and developing greenfield cold storage facilities and providing a consistent customer experience across our entire platform. More information is available at www.verticalcold.com.

About Platform Ventures

Platform Ventures, through certain asset management subsidiaries, manages and invests in real estate, real estate-related assets, real estate technologies and real estate-focused companies located throughout the United States. Platform’s experienced team seeks to add value to client portfolios by applying its knowledge of the long-term cycles and macro-economic trends that shape the real estate market in order to create price-to-value dislocations. Platform Investments, LLC, which is owned by Platform Ventures, has invested in 37 states with approximately $3 billion of assets under management as of December 31, 2022.1 Visit www.platformv.com for more information.

1.  This includes assets managed by our affiliates who are not registered investment advisers, and this amount does not represent Regulatory Assets Under Management as defined by the SEC. SEC registration does not imply a certain level of skill or training.