Cold storage and warehousing provides temperature-controlled storage and logistics infrastructure for perishable food, pharmaceuticals, and specialty goods. The industry is driven by growing consumer demand for fresh and frozen food, expanding e-commerce grocery fulfillment, and increasingly complex cold chain requirements in healthcare and biotech. Operators range from single-facility regional players to large national 3PL networks, with the lower middle market dominated by family-owned facilities serving local and regional food producers, grocery chains, and distributors.
Who buys these: Private equity firms, logistics roll-up platforms, food & beverage distributors, third-party logistics (3PL) operators, and owner-operators seeking essential infrastructure businesses with recurring revenue
3.5–6×
Typical EBITDA multiple
$1M–$5M
Revenue range
Growing
Market trend
SBA Eligible
7(a) financing available
Recession Resistant
Essential service
Established facilities with 3+ years of operating history, minimum $300K EBITDA, long-term customer contracts or recurring storage relationships, documented food safety certifications (FDA, USDA), and identifiable growth opportunities through capacity expansion or service diversification
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Key items to investigate when evaluating a Cold Storage & Warehousing acquisition
Seller Intelligence
Who sells Cold Storage & Warehousing businesses?
Retiring founders who built regional cold storage operations, family-owned food distribution warehouse owners, independent 3PL operators looking to exit, and entrepreneurs who built niche cold chain facilities serving local food producers or grocery chains
Typical exit timeline: 12–24 months
Cold Storage & Warehousing businesses in the $1M–$5M revenue range typically sell for 3.5–6× EBITDA. Established facilities with 3+ years of operating history, minimum $300K EBITDA, long-term customer contracts or recurring storage relationships, documented food safety certifications (FDA, USDA), and identifiable growth opportunities through capacity expansion or service diversification
Cold Storage & Warehousing businesses typically trade at 3.5–6× EBITDA in the lower middle market. The market is highly fragmented with growing demand, which supports premium multiples.
Cold Storage & Warehousing businesses are SBA 7(a) eligible, making them accessible to first-time buyers. Asset purchase with real estate included or separate sale-leaseback arrangement
Key due diligence areas include: Refrigeration and HVAC system age, condition, and deferred maintenance schedules; Customer contract terms, renewal rates, and concentration analysis; Energy consumption history and utility cost trends as a percentage of revenue; Food safety compliance records, inspection history, and certification status; Real estate ownership vs. lease terms, including renewal options and escalation clauses.
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