General info on Lineage.

What is Lineage?

Lineage Logistics is the world's largest temperature-controlled warehouse real estate investment trust (REIT), owned by Bay Grove, LLC. The company specializes in end-to-end logistical solutions and has a vast network of facilities dedicated to maintaining and managing temperature-sensitive products. 

Lineage has grown significantly since its founding in 2012, entering international markets in 2017 and acquiring more than 100 companies by the end of 2023. The company operates over 450 facilities across 18 countries, employing approximately 26,000 team members globally. Recognized for its innovative use of technology, Lineage partners with major food and beverage producers, retailers, and distributors to enhance distribution efficiency, sustainability, and reduce supply chain waste.

When is the Lineage IPO Expected to Launch?

The Lineage IPO is expected to launch in the first half of 2024. This anticipated timing places Lineage Logistics in a position to potentially be one of the largest IPOs of the year, drawing significant interest from investors and market analysts alike. The company's impressive growth trajectory, coupled with its strategic acquisitions and technological advancements, makes it a highly anticipated event in the financial markets.

The IPO will offer 47 million shares of common stock, with an additional option for underwriters to purchase 7.05 million shares. This significant offering reflects the company's robust market presence and investor confidence. The expected price range of $70 to $82 per share indicates a strong valuation, aiming for a total valuation of up to $19.16 billion. This substantial valuation underscores Lineage's dominant position in the temperature-controlled logistics industry.

A Quick Look at Lineage's IPO Stats

• Company Name: Lineage Logistics, LLC
   
• Ticker Symbol: LINE
   
• Stock Exchange: Nasdaq Global Select Market
   
• IPO Price Range: $70.00 to $82.00 per share
   
• Number of Shares Offered: 47,000,000 shares of common stock
   
• Over-Allotment Option: 7,050,000 additional shares
   
• Expected Valuation: Up to $19.16 billion
   
• Use of Proceeds: To repay borrowings under delayed draw term loan and revolving credit facility, fund employee cash grants, cover stock grants cash withholdings, and redeem Series A preferred stock
   
• Major Underwriters: Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan, and Wells Fargo Securities
   

Investment Highlights

Innovative Leader: Lineage has been recognized as the No. 1 Data Science company by Fast Company in 2019 and continues to be a leader in technological advancements within the temperature-controlled logistics sector. The company's focus on data-driven solutions and state-of-the-art technology helps it maintain efficiency and sustainability in its operations, setting it apart from competitors.

Global Reach: With operations spanning North America, Europe, and Asia Pacific, Lineage's extensive network ensures broad market coverage and robust logistical capabilities. This global footprint allows Lineage to serve a diverse range of clients, from small businesses to Fortune 500 companies, ensuring the safe and efficient distribution of temperature-sensitive goods worldwide.

Strong Financial Backing: Lineage has raised over $9 billion in equity from institutional investors, including BentallGreenOak, Stonepeak, Dan Sundheim's D1 Capital, and Oxford Properties. This strong financial backing provides the company with the resources needed to continue its growth and innovation. The interest from Norwegian wealth fund Norges Bank Investment Management, which intends to purchase up to $900 million worth of shares, further demonstrates investor confidence in Lineage's future prospects.

Strategic Partnerships: The company collaborates with some of the world’s largest food and beverage producers, retailers, and distributors, enhancing its market position and operational efficiency. These partnerships not only expand Lineage's market reach but also enable it to provide comprehensive supply chain solutions that meet the complex needs of its clients. By integrating advanced technology and logistics expertise, Lineage helps its partners improve distribution efficiency, reduce supply chain waste, and achieve sustainability goals.