Milbank LLP advised EQT Infrastructure (EQT) on the acquisition of Constellation Cold Logistics from Arcus Infrastructure Partners. Constellation Cold Logistics is the third largest operator of cold storage facilities in Europe. The transaction is subject to customary conditions and approvals. It is expected to close in October 2024. Constellation Cold Logistics (Constellation) provides temperature-controlled storage infrastructure to a wide range of food producers via a network of 26 storage facilities across seven countries in Western Europe and the Nordics. The company offers critical food preservation services that are essential to the modern food supply chain, helping to feed the world safely while reducing food waste. EQT will support Constellation as it looks to further entrench its market-leading position, execute identified M&A opportunities and deliver major expansion developments within Europe. EQT is a global investment organization with EUR 242 billion in total assets under management (EUR 132 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence, and market leadership. The Milbank team that advised EQT on all law aspects of the transaction was led by partner Markus Muhs (Corporate/M&A, Munich) and included partner James McClymont (Corporate/M&A, London), as well as special counsel David Schwenneker (Corporate/M&A, Munich) and associates Janik Klotzsche (Corporate/M&A, Munich), Drew MacDonald, Jamie Duncan, and Sophie Hofford (all Corporate/M&A, London).