It is with great pleasure today that we announce the official launch of the Chill Storage brand, as well as the financial backing of Bain Capital, one of the world’s leading private investment firms. The joint venture launches with the objective of deploying $500 million of asset value over the next several years.
Press release here.
Chill is a nationwide network of Class-A temperature-controlled warehouses. Simply put, we are marrying the next generation of the cold storage chain with modern building requirements and technology.
“In choosing Bain as our Joint Venture partner, we gain the backing of one of the world’s leading institutional investors,” says Pat Barber. “Over the past months, as the teams have gotten to know each other and start working together, it’s hard not to be impressed. They are a very process-driven company, and their rigorous approach to underwriting is very similar to ours. Coming from someone who loves process, we are really excited to work with David and his team. Their commitment to us, their processes, their due diligence – it’s all world-class.”
“We are excited to partner with the Barber team to deliver next-generation refrigerated and freezer storage space,” said David DesPrez, a Director at Bain Capital. “With the growing complexity of the food and beverage supply chain, we believe our highly adaptable, modern warehouse design will allow us to meet the full spectrum of food tenant needs and provide critical infrastructure to the U.S. food distribution system.”
