Kirkland & Ellis advised Cloverleaf Cold Storage, a leading cold storage warehousing company serving customers across its Midwest and Southeast locations, and private equity funds affiliated with Blackstone Group (NYSE:BX), one of the world’s leading investment firms, on Cloverleaf’s agreement to merge with Zero Mountain, Inc., a leading cold storage warehousing and transportation company serving customers across its Arkansas locations. With approximately 140 million cubic feet of capacity in nine states, and a presence in all three major protein production corridors, the combined companies will become the fifth largest cold storage warehouse in the United States. Existing investors in Cloverleaf, which include private equity funds affiliated with Blackstone, the Kaplan and Feiges families, and Medley Management, collectively will invest significant additional equity to facilitate the transaction, which is expected to close during the first quarter of 2019. The terms of the transaction were not disclosed.
Read the company press release.
The Kirkland team was led by transactional partners Shawn O’Hargan and Peter Martelli and corporate associates Elina Alperovich, Michael Ruderman and Ethan Smith.