Lineage Logistics, LLC | April 18, 2022
Lineage Logistics, LLC (“Lineage” or the “Company”), one of the world’s leading and most innovative temperature-controlled industrial REITs and logistics solutions providers, announced it has signed a definitive agreement to acquire VersaCold Logistics Services (“VersaCold”), a leading cold chain solution provider in Canada, from TorQuest Partners (“TorQuest”) and its co-investment partners, The Investment Management Corporation of Ontario (“IMCO”) and OPTrust. Financial terms of the transaction were not disclosed.Founded in 1941 and headquartered in Vaughan, Ontario, VersaCold is a cold chain leader that runs 24 temperature-controlled facilities comprising 114 million cubic feet of storage and 361,000 pallet positions. Its strategically-positioned network spans nine provinces and includes properties in Canada’s most populous metropolitan markets—including Toronto, Calgary, Vancouver, Edmonton, and Montreal. VersaCold also offers an integrated, asset-based inbound and outbound temperature-controlled transportation solution that operates out of nine terminals across the country and provides coast-to-coast service capabilities.
Our acquisition of VersaCold represents yet another milestone and an important broadening of our business in Canada,” said Greg Lehmkuhl, President and CEO of Lineage Logistics. In its 80-plus year history, VersaCold has built a stellar reputation by providing customers with differentiated and fully integrated warehousing and transportation solutions across Canada. We are excited to bring them into the One Lineage family and work alongside the VersaCold leadership team to better serve customers across North America. We also look forward to supporting capacity expansion plans at a number of warehouses across key Canadian markets.
"We look forward to embarking on this journey with Lineage Logistics, Lineage has emerged as a world leader in creating innovative solutions to help reduce waste across the temperature-controlled supply chain. Combining our seasoned team and our complementary facility network with Lineage will create an even more dynamic company capable of supporting the growing needs of our customers in Canada and around the globe.”
-Mike Arcamone, President and CEO of VersaCold Logistics Services.
TorQuest has enjoyed our partnership with Mike and the VersaCold team, and the opportunity to provide capital to invest in and reposition its facility network for the future” said Jonathan Fraser, Partner at TorQuest. “VersaCold has thrived under our ownership, and we are very pleased to have Lineage step in to drive the next chapter for the business. We are also excited to be investing in Lineage as part of this transaction and for our investors to participate in future value creation.
The acquisition is expected to close in the third quarter of 2022 subject to customary closing conditions.
Wells Fargo Securities, LLC acted as the exclusive financial advisor to VersaCold and TorQuest and Stikeman Elliott LLP served as legal counsel. JP Morgan Chase and Scotiabank acted as Lineage’s financial advisors and Latham & Watkins as well as Bennett Jones acted as its legal counsel.
About Lineage Logistics
Lineage Logistics is one of the world’s leading temperature-controlled industrial REITs and logistics solutions providers. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 19 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)
About VersaCold Logistics Services
VersaCold is one of Canada's leading supply chain solutions companies focused exclusively on the handling of temperature sensitive food products. VersaCold delivers a suite of fully integrated logistics services through its national network of industry leading facilities, transportation fleet and advanced technologies that set the benchmark for accessibility, information visualization, real-time tracking and inventory management. VersaCold is proud to play a key role in ensuring the safety, quality and freshness of some of North America's most beloved food brands, protecting the health and wellness of families across Canada from coast to coast. For more information about VersaCold, please visit www.versacold.com.
About TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$3.5 billion of equity capital under management, TorQuest is currently investing from TorQuest Partners Fund V, a C$1.4 billion fund that closed in March 2020. TorQuest invests in middle market companies and works in close partnership with management to build value. To learn more about TorQuest, please visit www.torquest.com.
Enel | June 28, 2022
Enel, a Fortune 200 energy company that plans to decarbonize its business by 2040, has announced Enel X Way, its new global business line dedicated to smart electric vehicle infrastructure solutions. Enel X Way will focus exclusively on developing EV charging solutions and services to accelerate the adoption of EVs for consumers, companies, cities, and governments. The business is currently active in 17 countries across North and South America, Europe, and Asia and manages over 320,000 public and private charging ports directly and through roaming agreements.
In North America, Enel X Way is headquartered in the heart of the Bay Area, San Carlos, Calif., and will support the rapidly increasing demand for electric vehicles and smart EV charging infrastructure with its portfolio of EV charging solutions, including the award-winning JuiceBox, which this year was recognized by CNET and Car and Driver as the "Best EV Charger Overall for 2022." According to BloombergNEF, EV sales in North America were up 88% in 4Q 2021, bringing the EV share of new car sales to 6.8% that quarter – the highest yet for the region. With more than 110,000 charging stations deployed across North America, EV drivers plug into an Enel X Way charging station every 2.6 seconds, and since launching its flagship consumer product in 2014, JuiceBox customers have avoided more than 510 tons of greenhouse gas emissions, equivalent to 1.3 million miles driven by an average gasoline-powered passenger vehicle.1
"The future is electric, and decarbonizing our energy and transportation systems will require smart infrastructure solutions to be the bedrock of this transition, Enel X Way was created to accelerate a sustainable transportation future for all. Becoming Enel X Way is a testament to Enel's increasing investment in electric mobility and commitment to supporting the larger clean energy transformation."
-Elisabetta Ripa, CEO of Enel X Way.
Under the new business line, Enel X Way North America is committed to further increasing sales and production, expanding its portfolio of solutions to include more commercial charging stations and growing its workforce with new highly skilled jobs to meet the evolving market needs. To help new EV drivers and businesses go electric, Enel X Way now offers 24/7 customer support and is helping customers leverage hundreds of millions of available incentive dollars across the United States and Canada as part of state, local and utility programs.
Across North America, major automakers are doubling down on their electric vehicle plans, large corporations are electrifying their fleets, and new policies and incentives are accelerating more EV adoption,said Chris Baker, Head of Enel X Way North America.
To further promote the spread of electric mobility, Enel X Way will strengthen its numerous partnerships around the world with electric vehicle manufacturers, private companies and public institutions and will leverage an 'interoperable system' by participating in roaming agreements and joint ventures to ensure that customers have access to an extensive and ubiquitous charging experience throughout North America, South America, Europe and Asia. This spring, Enel X Way will be launching new retail, automotive and utility partnerships, adding to its roster of commercial customers since releasing its commercial product line in 2020.
About Enel X Way North America
Enel X Way is a global leader in smart electric vehicle charging solutions with over 320,000 charging ports worldwide, including roaming agreements. As a subsidiary of Fortune 200 renewable energy leader, the Enel Group, Enel X Way is committed to providing smart mobility solutions for drivers, businesses and partners to make driving electric simple. Enel X Way's flagship home charging station, the JuiceBox, has been named the "best EV charger overall" in 2022 by CNET Roadshow. For more information, please visit our Enel X Way North American website here and follow us on Twitter, Instagram and Facebook @enelxwayna.
6 River Systems | September 25, 2020
6 River Systems has made a series of enhancements to its robotic fulfillment solution. 6 River, part of e-commerce platform provider Shopify, revealed the upgrade during its second annual user conference, FLOW 2020. David Vallance, director of product at 6 River Systems, says: “We have developed a strategic product roadmap at 6RS to find and address the next level of efficiencies to help our customers meet ever-changing demand and drive value to their own customers. “We’ve grown from providing picking robots to supporting inbound to outbound tasks within the four walls of the warehouse. Our latest set of enhancements are another exciting step forward in the evolution of our company and our industry.” To provide more visibility into operations and increase efficiency, 6RS developed The Bridge, an overarching tool that connects the data from what’s happening on the ground in a physical warehouse operation to an intuitive cloud-based control center. This tool gives customers the ability to fine tune and control each aspect of their operation and optimize their warehouse to meet the unique needs of the business by leveraging the following features:
Enghouse Transportation | April 13, 2022
Enghouse Transportation, a unit of Enghouse Systems Limited (TSX: ENGH) has partnered with electronic payment firm Switchio (a division of Monet+) to expand its automated transit fare collection offering.
Enghouse Transportation, an established provider of automated fair collection transit software solutions in the Netherlands, Central Europe and Eastern Europe, is expanding into the North American market.
Our strategic cooperation with Switchio bolsters our ability to deliver transit solutions in the United States, Canada and other markets, said Toofan Otaredian, Managing Director of Enghouse Transportation.
"Switchio has unique strengths in its Smart Cities portfolio, especially EMV card acceptance in public transit and parking. Switchio also offers modular solutions that enable quick and effortless EMV bank card payments for transit systems and operators."
Switchio is headquartered in the Czech Republic. The Company participated in the country's first chip payment card systems. "We're very pleased to embark on this new collaboration with Enghouse, We have already established a presence in the Americas with a successful implementation in Guatemala and another is currently underway in Chile. We now look forward to introducing our innovative digitalization solution to the North American market."
-Switchio transport business leader, Jaroslav Stuchlík
About Enghouse Transportation
Enghouse Transportation is an innovative provider of end-to-end electronic ticketing technologies that also provides transit agencies and operators with improved passenger experiences and cost-cutting hardware and software solutions. Customized to the needs of each client, Enghouse Transportation delivers expert solutions in automated fare collection (AFC), sales and service, and back-office systems. For more information, please visit www.enghousetransportation.com.
Switchio is a powerful software platform that enables public transit operators to manage multiple open-loop electronic payments in a variety of ticketing modes under a single system. Delivered as a comprehensive white-label solution for contactless passenger ticketing, it brings operators substantial savings while elevating the passenger experience to new levels of convenience. In addition to transport, Switchio also has applications in sectors that include retail, parking and petrol stations. At its core is a secure payment switch that gives businesses the ability to partner with the acquirer and hardware provider of their choice. For more information, please visit Switchio.com.