KANSAS
CITY, Mo., May 22, 2024 /PRNewswire/ -- I
Squared Capital ("I Squared"), a leading global infrastructure
investment manager, announced its acquisition of WOW Logistics
("WOW"), a Wisconsin-based
integrated supply chain solutions provider. The transaction was
announced on March 15, 2024.
Founded in 1977 by Harold
Schiferl and Don Utschig as Warehousing of
Wisconsin, WOW operates 25
facilities located across Wisconsin, Minnesota, Illinois, Idaho, and Washington offering an extensive portfolio of
services including temperature-controlled warehousing, real estate
development, and transportation alongside other logistics
solutions.
Over the past 45 years, WOW has grown in tandem with its
customers, developing a reputation for consistent and highly
responsive service that has resulted in deep and enduring customer
relationships in the North American dairy industry.
Today, WOW is one of the largest food-grade temperature
controlled and ambient storage operators in North America operating a network that spans
over 223 million cubic feet of capacity. That network serves as a
critical link in the supply chain infrastructure needs of its
customers. By partnering with I Squared, there is a tremendous
opportunity for WOW to modernize their storage infrastructure,
improve operational resiliency, boost
energy efficiency, and enhance and expand their
warehouse network to meet rising global demand of
their core customers and other non-dairy protein
producers.
"WOW Logistics is a great example of a family-owned business
that has served its customers with excellence for decades. The
company is a valued local employer and an active member of the
communities where it operates. We are proud to partner with WOW to
execute on our shared vision for growth while maintaining the
company's legacy as a dedicated partner to its
customers," said Gautam Bhandari,
Chief Investment Officer and Managing Partner, I Squared
Capital.
"We took great care in our approach to finding the right partner
who not only shared our values and would preserve the legacy
that WOW has built serving the Midwest dairy industry over the last
45 years, but also one who shared our vision. We are thrilled about
our partnership with I Squared. Their global portfolio and
ecosystem of tech-enabled investments will open up new avenues for
growth and innovation, allowing us to accelerate our growth,
enhance our operations, and expand the reach of our
customers," said Howard Kamerer, CEO of WOW Logistics.
Kirkland & Ellis LLP
served as legal counsel to I
Squared Capital. RJM & Company served
as exclusive financial advisor and Michael Best & Friedrich LLP served as legal
counsel to WOW.
Financial terms of the transaction were not disclosed.
About WOW Logistics
WOW Logistics® is one of the
fastest-growing supply chain service providers in the country with
unparalleled solutions in five core
business areas: Supply Chain Consulting, Operations,
Real Estate Development, Inventory Financing, and
Technology Solutions. An expert in storing and handling food-grade
product, WOW undergoes stringent ASI audits and consistently
receives scores at or above 98 percent. The company is also the
nation's largest private purchaser of dairy
products through its WOW COMMODITY PURCHASE PROGRAM®. WOW
maintains a total of 223 million cubic feet of warehouse space
throughout 25 distribution centers, including 47 million cubic feet
of temperature-controlled space. For additional information about
WOW, please visit our website at wowlogistics.com
About RJM & Company
RJM & Company is
a boutique M&A and capital markets advisory investment
bank. The firm provides boards and management teams of public and
private companies with independent advice and expertise in a
variety of sectors including road, rail and marine transportation,
infrastructure, chemicals, energy, metals and
mining, manufacturing, building materials and other areas of
the industrial complex. RJM advises clients on all aspects of
transactions including timing, structure, and pricing. RJM
originates out of market opportunities as well as leads or supports
negotiation and execution of
transactions already under evaluation. For additional
information about RJM, please contact Rick
Moyer at rmoyer@rjm-co.com
About I Squared Capital
I Squared Capital is an independent global infrastructure manager
with over $38 billion in assets
under management focused on investing in North America, Europe, Asia,
and Latin America. Headquartered
in Miami, the firm has more than 215 professionals across its
offices in Miami, London, New
Delhi, Sao Paulo, Singapore, Taipei, and Sydney. I Squared Capital has invested in a
diverse portfolio of 72 companies in 59 countries with over 27,000
employees across the utilities, energy, digital infrastructure,
transport, environmental infrastructure, and social infrastructure
sectors providing essential services to millions of people
around the world. For additional information about I
Squared Capital, please visit I Squared's website at
isquaredcapital.com
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SOURCE RJM & Company