Atlanta Equity Fund, a private equity firm with USD109m in capital under management, has announced that its affiliate has acquired Richmond Cold Storage.
Atlanta Equity Fund, a private equity firm with USD109m in capital under management, has announced that its affiliate has acquired Richmond Cold Storage.
RCS, headquartered in Richmond, Virginia, operates a network of owned, leased and managed temperature-controlled warehouses totalling approximately 49 million cubic feet of refrigerated warehouse space stretching from Virginia to Alabama.
RCS provides contract and public warehousing and warehouse management services to a broad range of companies with a concentration of global Fortune 500 clients.
Atlanta Equity co-managing partner, David Crosland, says: "My partners and I look forward to working closely with the RCS management team to support and expand upon RCS’s tradition of delivering innovation and superb service while effectively acting as an extension of their customers’ logistics departments."
Mike McClendon, president of RCS, adds: "The transaction with Atlanta Equity provides the capital and board level support to allow RCS to continue aggressively pursuing warehousing and logistics opportunities with new and existing customers as well as entertain attractive acquisition opportunities."
