CHICAGO--(BUSINESS WIRE)--Equity Group Investments (EGI), Sam Zell’s private investment firm, today announced an investment in East Coast Warehouse (ECW), a leading provider of temperature-controlled logistics to the food and beverage industry. EGI is partnering with ECW’s senior management team, who will continue leading the business and retain an ownership stake in the company. The partnership provides additional capital for add-on acquisitions and strategic support for the organization as it expands into new geographies. EGI President Mark Sotir, Managing Director Evan Harwood, and Vice President Tyler Goldstein join ECW’s board of directors alongside CEO Jamie Overley.
“With more than 65 years in operation, ECW is well-established in the temperature-controlled logistics space and has excelled under Jamie’s leadership,” said Sotir. “EGI has a proven track record of successfully scaling up companies in the transportation and real estate sectors. This alignment offers an exciting opportunity to partner with ECW through its next growth phase within an industry that continues to expand and experience tremendous advancements.”
“We are proud to partner with EGI as we build upon our expansions into Baltimore and Savannah and look toward other regions across the country for our next phase of growth,” said Overley. “This partnership will allow us to continue to execute our vision of providing an end-to-end national temperature-controlled third-party logistics solution with regional expertise and commitment to providing our customers with seamless capabilities and unmatched service.”
Headquartered in Elizabeth, New Jersey, ECW operates 72 million cubic feet of temperature-controlled and ambient warehouse space at the Ports of New York/New Jersey, Philadelphia, Baltimore and Savannah. In addition to its port-based warehousing services, ECW provides container drayage, local and regional trucking, national freight brokerage and customs exam services, offering shippers a fully integrated supply chain solution.
“We continue to see significant opportunity in differentiated logistics businesses like ECW,” commented Harwood. “ECW’s port-based strategy and its suite of end-to-end supply chain services make the company a leader in its markets and support its long-standing relationships with some of the largest shippers in the food and beverage industry.”
Terms of the transaction were not disclosed.
About Equity Group Investments
Equity Group Investments (EGI), founded by Sam Zell more than 50 years ago, has a long track record of building public and private businesses, including the origination and growth of multi-billion-dollar companies. EGI’s flexible capital and open investment mandate enable the firm to pursue opportunistic transactions across industries and geographies, throughout the capital structure, at any point in the economic cycle. EGI’s current portfolio includes investments in transportation and logistics, energy, waste and infrastructure, manufacturing, healthcare, agribusiness and real estate. For more information, visit www.egizell.com.
About East Coast Warehouse & Distribution
For more than 65 years, East Coast Warehouse & Distribution has served as a preeminent third-party logistics (3PL) provider, offering integrated temperature-controlled logistics services to food and beverage importers. Its state-of-the-art facilities totaling 72 million cubic feet, strategically located on the Ports of New York/New Jersey, Philadelphia, Baltimore, and Savannah, expedited customs exam services, transportation capabilities and value-added services, offer clients a 3PL end-to-end solution that is sophisticated and seamless. For more information, please visit www.eastcoastwarehouse.com.