Fenway Partners has announced it has acquired a majority interest in East Coast Warehouse & Distribution Corp., including Safeway Trucking Corporation. The acquisition was done through Refrigerated Holdings Inc., Fenway’s platform for temperature-controlled logistics sector investments. Financial terms were not disclosed.
East Coast, a third-party provider of temperature-controlled warehousing and logistics services, is Fenway’s 26th transportation and logistics acquisition. The company will become a part of Refrigerated Holdings, joining Gemini Traffic Sales, acquired by Fenway in February 2007. Robert J. Adams, previously Gemini president, was named president and CEO of Refrigerated Holdings.
“East Coast is an exciting addition to Fenway’s portfolio of transportation and logistics investments and will nicely complement Refrigerated Holdings’ existing businesses,” said Marc Kramer, managing director of Fenway Partners and co-head of the firm’s transportation/logistics practice. “This transaction allows us to partner with a founding family and management team with deep roots in the Port of NY/NJ for 50 years, and we look forward to bringing additional resources to further enhance the company’s strong operating platform.”
