Northborne Partners

MINNEAPOLIS, MN, February 1, 2022 – Northborne Partners is pleased to announce that it served as the exclusive financial advisor to East Coast Warehouse and Distribution (“ECW”) in connection with the investment received from Equity Group Investments (EGI). EGI is partnering with ECW’s senior management team, who will continue leading the business and retain an ownership stake in the company. The partnership provides additional capital for add-on acquisitions and strategic support for the organization as it expands into new geographies. Financial terms were not disclosed.

ECW is a preeminent provider of temperature-controlled third-party logistics (3PL) solutions to the food and beverage industry. Headquartered in Elizabeth, NJ, ECW operates state-of-the-art facilities totaling 72 million cubic feet, strategically located on the Ports of New York/New Jersey, Philadelphia, Baltimore and Savannah.

EGI is a private investment firm founded by Sam Zell, with investments in transportation and logistics, energy, waste and infrastructure, manufacturing, healthcare, agribusiness and real estate.

Ben Marks, Managing Director at Northborne, said, “East Coast Warehouse has a long, successful history of providing logistics and warehousing services on the East Coast, and the business has truly excelled under the leadership of Jamie Overley and his team, becoming a leading cold chain logistics platform for some of the world’s most recognizable food and beverage brands. It has been a privilege to help East Coast Warehouse find an ideal partner to continue its growth in this vital industry.”

“We are very excited by this investment from EGI,” said Jamie Overley, CEO of ECW. “This partnership will allow us to continue to execute our vision of providing an end-to-end national temperature-controlled third-party logistics solution with regional expertise and commitment to providing our customers with seamless capabilities and unmatched service.” Regarding Northborne’s involvement in the transaction, Jamie Overley said, “Northborne has been a trusted partner throughout the entire process. The Northborne team’s advice and guidance were truly invaluable in helping us achieve this excellent outcome.”

Arnall Golden Gregory LLP acted as legal counsel to ECW.

About Northborne Partners

Northborne Partners is a preeminent middle market investment banking firm focused on providing M&A advisory services to companies in the food & consumer, healthcare and industrials sectors, among others. It focuses on advising private business owners in the sale of their companies and has decades of experience sitting across the table from the most seasoned strategic and private equity buyers in the world. Northborne Partners is headquartered in Minneapolis, MN. For more information, please visit www.northborne.com.

About East Coast Warehouse & Distribution

East Coast Warehouse & Distribution is a leading third-party logistics provider, offering integrated temperature-controlled logistics services to food and beverage importers. 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. For more information, please visit www.eastcoastwarehouse.com.

About Equity Group Investments

Equity Group Investments (EGI), founded by Sam Zell more than 50 years ago, has a long track record of building public and private businesses, including the origination and growth of multi-billion-dollar companies. EGI’s flexible capital and open investment mandate enable the firm to pursue opportunistic transactions across industries and geographies, throughout the capital structure, at any point in the economic cycle. EGI’s current portfolio includes investments in transportation and logistics, energy, waste and infrastructure, manufacturing, healthcare, agribusiness and real estate. For more information, please visit www.egizell.com.