Slate, Hamilton Lane Back Cold-Link Logistics Investment
Slate Asset Management and Hamilton Lane have injected substantial investment into Cold-Link Logistics, a move signaling strong investor optimism regarding the burgeoning cold-chain logistics sector. This strategic acquisition, bolstered by co-investment partners led by GFH Partners, positions Cold-Link for accelerated expansion across North America’s increasingly complex food supply infrastructure. The transaction underscores a growing recognition of the resilience and importance of temperature-controlled logistics, particularly as consumer demand and supply chain intricacies continue to rise. Cold-Link Logistics, founded in 2016 by brothers Michael and Nick Mandich, has rapidly established itself as one of the top ten largest privately held cold storage platforms within North America, a remarkable achievement within a relatively short timeframe.
Cold-Link’s Rapid Ascendancy and Strategic Footprint
Headquartered in Hollywood, Florida, Cold-Link’s operations now encompass nine state-of-the-art facilities, totaling nearly 78 million cubic feet of ambient, refrigerated, and frozen storage capacity. These facilities are strategically located across the Central, Northeastern, and Southeastern United States. The company’s rapid growth is attributed to a combination of astute market timing, operational excellence, and a keen understanding of evolving customer needs within the food supply chain. The selection of locations highlights a deliberate approach to serving key distribution hubs and regions with significant food production and processing activity. Furthermore, the fact that many of these facilities were constructed as recently as 2022 demonstrates Cold-Link’s commitment to utilizing modern, high-efficiency cold storage technology – a critical factor in meeting the increasingly stringent demands of the industry. This focus on contemporary assets positions the company advantageously within a sector characterized by technological innovation and a growing emphasis on sustainability.
Strategic Investment and Partnership Dynamics
The acquisition represents more than just capital infusion; it signifies a pivotal alignment of strategic vision. Slate Asset Management, a firm with nearly 15 years of experience investing in “essential real estate and infrastructure” assets that underpin the delivery of everyday necessities, has identified Cold-Link as a compelling investment opportunity. Jeff Rodgers, Managing Director leading Infrastructure at Slate, emphasized the firm’s long-term conviction in the defensive and resilient nature of this sector, stating that the investment in Cold-Link dramatically increases Slate’s exposure to a “critical and rapidly growing segment of the food supply chain.” Rodgers highlighted Slate’s commitment to working closely with Cold-Link’s management team to capitalize on the sustained demand drivers within the cold storage market and to unlock the next phase of the Company’s growth. The partnership leverages Slate’s vast experience in asset management and its established network, complementing Cold-Link’s operational expertise and market position.
Hamilton Lane’s Role and Broader Investment Strategy
Hamilton Lane, a global private markets investor with a truly expansive footprint – estimated at trillions of dollars – further strengthens the transaction. The firm’s decades of experience backing alternative asset strategies, particularly within infrastructure and logistics, provide significant strategic depth to the investment. Brent Burnett, head of infrastructure and real assets at Hamilton Lane, characterized the investment as part of a broader effort to align with “unique opportunities” alongside expert sponsors within essential infrastructure and logistics. Hamilton Lane’s involvement brings a global perspective and access to a wider pool of resources, demonstrating a commitment to supporting Cold-Link’s long-term ambitions.
Cold-Link’s Founders’ Perspective and Future Plans
For the company’s founders, Michael and Nick Mandich, this deal isn’t a departure but rather a carefully considered strategic alignment. Having scaled Cold-Link into one of the largest privately held cold storage platforms in North America within just under 10 years, the brothers recognize this inflection point as an opportunity to accelerate their growth strategy with the support of a seasoned institutional partner. Michael Mandich, the company’s president and managing partner, expressed confidence that Slate’s capital and expertise will be instrumental in advancing Cold-Link’s operational capabilities and delivering dependable cold storage solutions to its customers.
Nick Mandich echoed this sentiment, stressing the importance of the company’s foundational culture – rooted in family values and a deep commitment to its team and customers – and emphasizing the belief in the growth opportunities that lie ahead. The decision to roll a majority of their equity and continue leading the business underscores a steadfast dedication to the company’s future.
Industry Context and Future Trends
The investment in Cold-Link Logistics comes against a backdrop of significant shifts within the broader food supply chain. Trends such as the reshoring of food operations, heightened demand for refrigerated capacity, and rising expectations for cold-chain reliability from producers, distributors, and retailers alike are converging to create a robust and increasingly sophisticated market for temperature-controlled logistics solutions. This investment not only validates these trends but also positions Cold-Link to capitalize on them, solidifying its role as a key enabler of efficient and resilient food supply infrastructure across North America. The transaction represents a considerable milestone for Cold-Link Logistics and underscores investor confidence in the sector’s long-term trajectory.
