MIAMI–(BUSINESS WIRE)–I Squared Capital (“I Squared”), a leading global infrastructure investment manager, announced its acquisition of WOW Logistics (“WOW”), a Wisconsin-based integrated supply chain solutions provider.
Founded in 1977 by Harold Schiferl and Don Utschig as Warehousing of Wisconsin, WOW operates 25 facilities located across Wisconsin, Minnesota, Illinois, Idaho, and Washington offering an extensive portfolio of services including temperature-controlled warehousing, real estate development, and transportation alongside other logistics solutions.
Over the past 45 years, WOW has grown in tandem with its customers, developing a reputation for consistent and highly responsive service that has resulted in deep and enduring customer relationships in the North American dairy industry.
Today, WOW is one of the largest food-grade temperature controlled and ambient storage operators in North America operating a network that spans over 223 million cubic feet of capacity. That network serves as a critical link in the supply chain infrastructure needs of its customers. By partnering with I Squared, there is a tremendous opportunity for WOW to modernize their storage infrastructure, improve operational resiliency, boost energy efficiency, and enhance and expand their warehouse network to meet rising global demand of their core customers and other non-dairy protein producers.
“WOW Logistics is a great example of a family-owned business that has served its customers with excellence for decades. The company is a valued local employer and an active member of the communities where it operates. We are proud to partner with WOW to execute on our shared vision for growth while maintaining the company’s legacy as a dedicated partner to its customers,” said Gautam Bhandari, Chief Investment Officer and Managing Partner, I Squared Capital.
“We took great care in our approach to finding the right partner who not only shared our values and would preserve the legacy that WOW has built serving the Midwest dairy industry over the last 45 years, but also one who shared our vision. We are thrilled about our partnership with I Squared. Their global portfolio and ecosystem of tech-enabled investments will open up new avenues for growth and innovation, allowing us to accelerate our growth, enhance our operations, and expand the reach of our customers,” said Howard Kamerer, CEO of WOW Logistics.
Kirkland & Ellis LLP served as legal counsel to I Squared Capital. RJM & Company served as exclusive financial advisor and Michael Best & Friedrich LLP served as legal counsel to WOW.
Financial terms of the transaction were not disclosed.
About I Squared Capital
I Squared Capital is an independent global infrastructure manager with over $38 billion in assets under management focused on investing in North America, Europe, Asia, and Latin America. Headquartered in Miami, the firm has more than 215 professionals across its offices in Miami, London, New Delhi, Sao Paulo, Singapore, Taipei, and Sydney. I Squared Capital has invested in a diverse portfolio of 72 companies in 59 countries with over 27,000 employees across the utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure sectors providing essential services to millions of people around the world. For additional information about I Squared Capital, please visit I Squared’s website at www.isquaredcapital.com.
