Tiger Cool Express Says New Investment Will Support Its Container-Fleet Expansion
Tiger Cool Express, a temperature-controlled intermodal carrier, said Wood Creek Capital Management has purchased an ownership interest in the company to support the “rapid” expansion of its refrigerated container fleet.
Financial details were not disclosed.
With the addition of Wood Creek to its ownership group, Tiger Cool Express said expects to acquire an additional 300 refrigerated containers this year, growing its fleet size to 735.
In February, the intermodal carrier announced its acquisition of 200 containers from Quingdao CIMC Special Reefer Co., bringing its fleet to its current size of 435 containers.
The carrier’s shareholder base also includes New York-based private equity firm Tiger Infrastructure Partners.
Emil Henry, CEO of Tiger Infrastructure Partners and chairman of the board for Tiger Cool Express, said the addition of Wood Creek “gives Tiger Cool Express superior financial strength to grow aggressively as we build the largest intermodal distributor of perishables in the United States.”
“With our growth capital and expanded fleet, we are targeting year-end run rate revenues of approximately $100 million,” said Tiger Cool Express CEO Tom Finkbiner.
