MTC Logistics

a wholly owned subsidiary of

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has been sold to

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ABOUT THE COMPANY:

Founded in 1928, MTC Logistics (“MTC” or the “Company”), a wholly owned subsidiary of Hoffberger Holdings, Inc. (“HHI”), is a diversified privately held investment company of the Hoffberger family of Baltimore, MD. MTC is a fifth-generation family business and is recognized as one of the International Association of Refrigerated Warehouses (IARW) North American Top 25 Operations. The Company provides warehousing services including import/export services, repacking, blast freezing, transportation and rail transload services through an operational footprint that includes four distribution centers with more than 38 million cubic feet (over 113,000 pallet positions) of refrigerated and frozen warehouse capacity, serving the ports of Baltimore, MD, Philadelphia, PA, Wilmington, DE, and Mobile, AL.

SITUATION:

After successfully navigating headwinds of the COVID-19 environment, generating strong business momentum, and completing construction of a brand-new operation in Mobile, Alabama, the Company’s stakeholders received interest from a key strategic player. This opportunity would allow HHI to realize its investment and enable management to accelerate the execution of future strategic growth initiatives.

ENGAGEMENT:

G2 Capital Advisors, LLC (“G2”) was engaged by MTC Logistics as exclusive sell-side advisor. G2 lead a strategic and efficient sell-side transaction process focused on validating the potential interest, managing a fast-pace due diligence process, and closing the transaction under an expedited timeline.

OUTCOME:

The transaction was successfully executed through a sale to Lineage Logistics Holdings, LLC (“Lineage”), the world’s largest and most innovative temperature-controlled industrial REIT and a portfolio company of Bay Grove. MTC will operate as part of Lineage’s existing footprint of over 400 strategically located facilities totaling more than 2 billion cubic feet of capacity across 19 countries. Accordingly, its customers and associates will benefit from Lineage’s scale, industry-leading technology, values, and customer-centric approach. “G2 evaluated key strategic alternatives relative to current market conditions which helped us to determine our strategy. They were instrumental in supporting a sale process, navigating our team through a highly complex process, and exceeding our expectations as to their level of support and expertise. We couldn’t be happier with the selection of Lineage as MTC’s new partner who shares our values and customer-centric approach,” said Harry Halpert, Chairman of MTC Logistics and CEO of Hoffberger Holdings. “With Lineage’s partnership, MTC is primed to continue an exciting growth trajectory thanks to the Company’s best-in-class services, strategic presence at key East Coast and Gulf ports, along with its dedication to partnerships with its customers. We are eager to see what opportunities the Lineage-MTC combination will unlock. It was an honor and privilege to represent a business with nearly a century-long family legacy of delivering significant value to the temperature-controlled segment. This transaction is a terrific example of G2’s strategy of partnering with market-leading organizations within our dedicated industry verticals.” said Christopher Casteleyn, G2 Managing Director of Transportation and Logistics.

DEAL TEAM:

SUB-SECTOR

temperature-controlled logistics

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