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Robert.Jervis_43227 Jan 13

HSH Cold Stores shines bright for Constellation

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Constellation Cold Logistics announces the acquisition of HSH Cold Stores Limited, the fourth investment of the cold storage and logistics platform
Arcus Infrastructure Partners has announced that Constellation Cold Logistics, a portfolio company of Arcus European Infrastructure Fund 2, has completed the acquisition of HSH Cold Stores. As part of the transaction, Anthony Howard, HSH Founder and CEO, will continue as a shareholder in HSH alongside Constellation.
 
HSH is a family-owned, multi-facility cold storage and transport logistics company headquartered in Grimsby, an important fishing port located in the northeast of the UK. HSH is a strong local leader in the UK cold storage sector, providing essential infrastructure and value-add services to key food supply chain customers in the country. The Company’s asset footprint comprises c. 65,000 pallet positions of temperature-controlled storage capacity, and includes a refrigerated fleet of c. 40 trucks offering transport as a value-added service to its customers.
 
The acquisition of HSH is the fourth investment of this fund for Constellation, following previous investments in Glacio in Norway, Lintelo in the Netherlands, and Stockhabo in Belgium. Like all the previous Constellation investments, HSH was proactively approached as a priority partner for Constellation’s strategy, and the transaction was undertaken on a bilateral basis through an exclusive process between Arcus and the owner-operator. The addition of HSH to the Constellation platform brings diversity and strategic benefits through the establishment of a strong presence in the UK market, where the essential nature of cold chain logistics infrastructure has been highlighted through both the Brexit process and the COVID-19 pandemic.
 
Ian Harding, Arcus Co-Managing Partner, commented:

"This newest acquisition for Constellation demonstrates our continued conviction in the merits of investing in cold chain infrastructure, which has proven significant resilience over the past year. Arcus has a long track record in successfully identifying and developing bespoke platform strategies, supporting the growth of European businesses that provide essential, long-term infrastructure to their customers and ultimately creating value for our investors. We look forward to further applying our platform expertise in supporting Anthony and the team at HSH through the next chapter of growth as part of Constellation.” 
 
"We are very pleased that HSH has joined the team at Constellation, extending Constellation’s network of essential cold chain infrastructure into the UK,” commented Jordan Cott, Partner at Arcus and transaction lead. 

“We have tremendous respect for the HSH team, which is renowned for its strong customer focus and so, perfectly complements our operations in Belgium, Norway, and the Netherlands. The addition of HSH also presents opportunities for Constellation’s customers across Europe who require cold chain solutions in the UK. We see a significant opportunity for the Company to consolidate its leading position in its core segments and areas of the UK market, and will be working closely with the Company to execute on near-term expansion plans and other strategic initiatives.”