NOVI, Mich.--(BUSINESS WIRE)--Lineage Logistics, LLC (“Lineage”), a leading international warehousing and logistics company backed by Bay Grove Capital, LLC (“Bay Grove), today announced that Matthew (“Matt”) Hardt has been appointed to serve as the Company’s Chief Financial Officer (“CFO”). Matt joins Lineage from Cooper Standard Automotive (NYSE:CPS), where he was Executive Vice President and Chief Financial Officer.
“I cannot think of a better time to introduce a high-energy, high-impact CFO like Matt to Lineage as we continue to evolve as a transformative leader in the supply chain and logistics space worldwide,” said Greg Lehmkuhl, President & CEO of Lineage. “With an extensive background in global business finance, strategic planning and organizational transformation, Matt is the right finance leader to support Lineage’s future growth into the markets and business segments that provide the most value to our customers.”
“Lineage is a fast-growing, dynamic organization,” said Hardt. “Given the Company’s history, vibrant culture and the growth prospects for the future, I am thrilled to join the team and to continue delivering results for both our customers and stakeholders.”
Hardt brings to Lineage an outstanding track record of bottom-line results and transformational growth within highly regarded global companies. At Cooper Standard, he led the organization to record financial performance in both 2015 and 2016, with a significant focus on margin expansion and cash generation through working capital, Capex and tax planning. Hardt led the re-IPO of Cooper Standard that transitioned the investor base to long-term holders and meaningfully improved the balance sheet through extensive debt and equity market transactions.
Prior to Cooper Standard, Hardt served as Chief Financial Officer for multi-billion dollar global business units within TE Connectivity (formerly Tyco Electronics) and the General Electric Company. He graduated from Siena College with a B.S. in Finance.
“A key objective at Lineage is to attract extraordinary talent that contributes to its innovative, collaborative and results-oriented culture,” said Adam Forste, Managing Partner of Bay Grove. “We are delighted to welcome Matt and his level of expertise to Lineage’s already exceptional leadership team.”
About Lineage Logistics, LLC: Lineage Logistics is one of the largest temperature-controlled warehousing and logistics companies in the world. The company was founded through the combination of premier, temperature-controlled warehousing companies, some of whose roots date back to the early 1900s. Lineage is committed to confidently driving supply chain transformation by serving the world’s leading food, retail, agriculture and distribution companies. (www.lineagelogistics.com)
About Bay Grove Capital, LLC: Bay Grove Capital is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Since 2008, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, the leadership team and employees. The firm has deep experience in the warehousing and logistics industry and also seeks to make investments in other adjacent sectors. Bay Grove is based in San Francisco. (www.bay-grove.com)