Lineage Logistics, a temperature controlled real estate investment trust (REIT) and logistics solutions provider in Novi, today announced it has acquired MTC Logistics, a cold-chain provider with four strategic locations on or near ports.
The acquisition of the four facilities — in Baltimore; Wilmington, Del.; Philadelphia; and Mobile, Ala. — adds nearly 38 million cubic feet of capacity and more than 113,000 pallet positions in the U.S. This adds to Lineage’s footprint of more than 400 facilities totaling over 2 billion cubic feet of capacity across 19 countries.
“MTC Logistics’ strong presence at key ports along the U.S. East and Gulf Coasts and focus on best-in-class service and innovation will help better connect our customers to the global food supply chain,” says Greg Lehmkuhl, president and CEO of Lineage Logistics. “We look forward to welcoming the MTC team into the One Lineage family and leveraging their expertise to fulfill our vision of becoming the world’s most dynamic temperature-controlled logistics company.”
MTC Logistics was a wholly owned subsidiary of Hoffberger Holdings Inc. (HHI), a diversified privately held investment company of the Hoffberger family of Baltimore. A fifth-generation family business, MTC provides warehousing services including blast freezing, import and export services, case selection, transportation and port drayage, and storage between negative 20 degrees Fahrenheit and 40 degrees Fahrenheit.
“As part of MTC’s nearly century-long commitment to the refrigerated and frozen warehousing and transportation industry, we have always sought opportunities to be a warm, responsive and dedicated partner to our customers,” says Harry Halpert, chairman of MTC Logistics and CEO of Hoffberger Holdings. “Our customers and associates will benefit from Lineage’s scale and industry-leading technology, and we are fortunate to find a strong partner who shares our values and customer-centric approach.”
G2 Capital Advisors and Whiteford, Taylor, and Preston served as financial and legal advisors to MTC, respectively.