New cold storage provider sets sights on North American market

Cold storage startup Envision Cold has launched with plans to develop US$1.5 billion in facilities.

The firm provides complete services along the cold chain, including transportation, import and export services and real estate development.

Since the company’s inception, Envision has acquired cold storage operations and assets in Oakland and San Francisco, California,,Laredo, Texas, and Vancouver, British Columbia.

With a recent investment of $500 million from an undisclosed capital partner, the company plans to continue acquiring and developing a network of facilities across North America, focusing on markets that are underserved by cold storage from both a physical infrastructure and customer service perspective. Envision provides its users with various services, including traditional cold storage, import/export services, transportation and blast freezing.

The company’s executive team previously worked together at Americold, the world’s second-largest cold storage owner/operator.

Austin Solem (CEO) previously launched and ran Americold’s M&A department and played a pivotal role in taking the company public in 2018. While at Americold, he was instrumental in structuring acquisitions totaling $4.6 billion and comprising 99 facilities in 12 countries.

Stephen Draper (COO) has 30 years of cold storage experience and was responsible for Americold’s operations in the Southeast region, which consisted of ~50 facilities across 14 states and 3,000 employees.

Eric Diaz (CFO) oversaw all regional and operations finance activities for North America Warehouse, Transportation, and 3PL Managed business segments.

“We are excited to announce the launch of Envision and our plans to build one of the preeminent cold storage companies in North America,” said Solem.

“The magnitude of this investment was driven by the strength of not only our team’s commitment to innovation and service but also to the opportunity within the market itself. The cold storage industry is stronger than ever, but it needs more national providers to satisfy the increasing demand.”