Lineage Logistics, a temperature-controlled storage and logistics provider, is looking to complete a more than $30 billion initial public offering (IPO) for next year, Bloomberg reported on Wednesday, citing people familiar with the matter.
Michigan-based Lineage is the largest cold storage real estate investment trust in the world and has the backing of private equity firm Bay Grove.
The company provides end-to-end logistics services such as freight forwarding, customs brokerage, drayage and truck transportation to and from its warehouses.
It owns a portfolio of more than 400 facilities and 2.5 billion cubic feet of space across North America, Europe and the Asia-Pacific region.
Lineage has raised more than $13 billion of capital to date, according to PitchBook, including two rounds totaling more than $2.4 billion last year and $6.7 billion in equity since the beginning of 2020, as well as a couple of smaller debt issuances.
Contact Sean at sean@proactiveinvestors.com