Stout Bluepeak Asia Limited (“Stout”) has successfully advised Mandai Link Logistics (“Mandai”), a Singapore-based cold-chain logistics services provider, on its sale to Lineage Logistics (“Lineage”), the world’s largest temperature-controlled industrial REIT and logistics solutions provider ranked by the International Association of Refrigerated Warehouses (IARW Global Top 25). Stout served as the sell-side financial advisor to Mandai, which has over 30 years of operating history.

Mandai Link is the market-leading provider of cold-storage services and automated operations in Singapore. It serves as a one-stop hub for refrigerated food distribution with a full range of solutions, including procurement, transport, and warehousing. Mandai has a land area of 188,874 square feet with a fully automated storage retrieval system (ASRS) of four temperate zones that can house a capacity of 28,000 pallets. The state-of-the-art facility is integrated with solar power, which saves up to 17% of Mandai’s energy consumption. Concurrently, it is equipped with a rainwater collection system for water recycling and sustainability development.

Lineage Logistics is the global market-leading, temperature-controlled industrial REIT and logistics solutions provider. Lineage has an established global footprint with more than 400 facilities strategically located in 20 countries, serving a broad base of customers across North America, Europe, and Asia-Pacific.

Jeff Hogarth, President Asia Pacific at Lineage, said, “Mandai established Singapore’s first fully automated cold-storage facility and has been long considered a local market leader in the provision of cold-storage warehousing and distribution services. Ms. Tan Seng Eng, CEO of Mandai Link, is a visionary who made a huge bet by investing early in automation, and we are pleased that she will stay on as an advisor to Lineage.”

The addition expands Lineage’s footprint in Southeast Asia and provides it with a platform for further growth in a region of fast-grow foreign direct investments and a 700-million-person population with high procurement power. Mandai’s facilities, combined with Lineage’s industry-leading technology and innovations, will assist international customers in securing fork-to-plate food chain demands globally, especially in a post-COVID era.

Victor Tay, Managing Director at Stout’s Singapore office, who led the transaction, commented, “Mandai’s market-leading position of cold-chain logistics perfectly fits Lineage’s strategic goals to expand in Asia. Lineage investment into Singapore, which is a global trans-shipment hub, will unlock a gateway to secure food and cold-chain logistics from Oceania and Asia and to the rest of the world. We were impressed by the dedication and level of professionalism of Ms. Tan and her team and look forward to the synergies that Mandai and Lineage will deliver. It was a pleasure being part of their journey.”

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