Temperature-controlled logistics services providerRichmond Cold Storage (RCS), Richmond, Va., said it will pursue additional warehousing and logistics opportunities -- as well as potential acquisitions -- since the company was recently purchased byAtlanta Equity Fund, LP, an Atlanta equity investor group. Terms were not disclosed.
RCS operates a network of owned, leased and managed temperature-controlled warehouses totaling approximately 49 million cubic feet of refrigerated space in sites from Virginia to Alabama. RCS officials, including President Mike McClendon, continue to run the business.
Said RCS Chairman Emeritus Frank ("Pepper") Laughon Jr., "The Atlanta Equity transaction is the culmination of a long-planned process to find the ideal financial partner who shares the same passion for supporting and expanding RCS's customer relationships, many of which span decades."
Investor acquires Richmond Cold Storage
May 7, 2009