Novi-based Lineage Logistics (LLC), a temperature controlling and logistics solutions provider, has announced its plan of acquisition of the cold storage division from Denmark-based Claus Sørensen Group.
Claus Sørensen is a large cold storage operator based in Esbjerg, Denmark. The company primarily locates its cold storage units near major fishing ports and food production facilities.
“Lineage’s dedication to both innovation and service perfectly aligns with our longstanding commitment to being a preferred partner for our customers,” says Jesper Toft Mathiasen, administrative director at Claus Sørensen. “We are excited to join a company that shares our same values and to join forces with Lineage’s team in the region to innovate for our customers and to help them grow their businesses.”
Currently, Lineage’s facility network expands over 15 countries residing in various continents including North America, Europe, South America, and Asia. The acquisition of Claus Sørensen will allow the company to significantly expand its company throughout Europe.
“At Lineage, we actively look for opportunities to strengthen our leading facility network and deliver strategic value to our customers by connecting more dots within their supply chains,” says Greg Lehmkuhl, president and CEO of Lineage. “Our acquisition of Claus Sørensen will amplify our reach in the Nordic region, and will add a highly capable team to our European organization.”
To control the financial and legal exchange, Deloitte Corporate Finance will be the acting financial advisor and Gorrissen Federspiel will be the acting legal advisor for Claus Sørensen Group. Whereas Rabobank will be acting as Lineage’s financial advisor and Bech Bruun will be its acting legal counsel.
“Like many companies that have joined Lineage, Claus Sørensen is a family owned and operated company with a long legacy and strong entrepreneurial culture,” says Mike McClendon, president of international operations and executive vice president of network optimization at Lineage.