Sam Zell’s private investment firm, Equity Group Investments, has announced an investment in East Coast Warehouse, a provider of temperature-controlled logistics to the food and beverage industry.
EGI is partnering with ECW’s senior management team, which will continue leading the business and retain an ownership stake in the company. Terms of the transaction were not disclosed.
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.
Harwood said in prepared remarks that he continues to see significant opportunities in differentiated logistics businesses such as ECW.
“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,” Harwood said.
Headquartered in Elizabeth, N.J., 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.
