PRIVATE equity firm Growtheum Capital Partners (GCP) is infusing P7 billion to Philippine-based cold chain solutions provider Mets Logistics to expand its cold storage network.
In a statement on Monday, the parties said GCP will invest P7 billion in the company with the remaining P500 million from the founder shareholders
“This investment will further our expansion plans and help us enhance our cold chain logistics capabilities, providing greater value to our customers and stakeholders,” Eduard Tio, Mets chairman and president.
The closing of the investment is subject to regulatory approvals. PwC Philippines acted as Mets’ financial, tax and legal advisor.
The partnership aims to address the shortage of reliable and high-quality cold storage services in the country.
GCP is a private equity firm pursuing partnership opportunities with leading companies in Southeast Asia and India.
Founded in 2010 by Tio, Mets is a Philippines-based cold chain solutions provider that operates cold storage facilities nationally with around 100,000 total pallet positions.
Mets plays a key role in the underserved Philippine cold chain logistics market with footholds in key regions. It offers a comprehensive suite of temperature-controlled logistics solutions such as cold storage, dry storage, toll processing, and blast freezing services. From a single-site operation in Carmona facility, Mets Logistics has grown its network of warehouse facilities nationally to Cebu, Cagayan de Oro, Balagtas, and currently serves a diverse client portfolio including major food & beverage and logistic companies in the country.
