European private equity major EQT, through its EQT Infrastructure VI fund, has agreed to acquire storage services provider Constellation Cold Logistics from Arcus Infrastructure Partners.
EQT’s investment is expected to help Constellation expand within existing and new markets, both organically and through European M&A.
The transaction is expected to close this October, after which EQT Infrastructure VI is expected to be 40-45% invested.
Constellation provides temperature-controlled storage services to food producers, traders and retailers. The company was established in 2020 by Arcus Infrastructure Partners through a merger of three businesses located in Belgium, Norway and the Netherlands.
Constellation currently owns and operates 26 large cold storage facilities across Western Europe and the Nordics, employing 700 people. It is expected to generate revenues over €150m this year. The company is currently led by CEO Carlos Rodriguez.
EQT was advised by UBS, Roland Berger, Milbank and PwC.
