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Fond du Lac Cold Storage

Fond du Lac Cold Storage (FDL) provides fully refrigerated storage and daily deliveries to its customers, specializing in wine and cheese. FDL offers other value-added services such as labeling and picking and repacking.


How We Partnered

Transaction Dynamics
A partnership with management to support continued growth.  Management made a significant investment in the Company as part of the transaction.

Investment Thesis

  • Established infrastructure and route density targeting a niche market
  • Strong customer relationships with repeating revenue streams
  • Incline industry expertise and multiple avenues for value creation including operational improvements and market expansion
  • Attractive financial profile, free cash flow conversion and deal dynamics
  • Stable, recession resistant business due to highly stable product end markets and pricing model

Incline Value Enhancement

  • Execute on operational efficiency improvements such as process flow changes
  • Implement new software tools to improve warehouse and delivery performance
  • Develop and augment management team to support future growth
  • Strategically identify and enter attractive new markets in partnership with existing customers

Edison, New Jersey




Business Services


November 2017

Our primary customers are small to medium-sized wine importers that need a logistics supplier, but are often underserved by our competitors. Many of our customers have grown significantly, and we are committed to growing with them. We are partnering with Incline to improve operational and delivery performance and to strengthen our ability to support our customers.

Ted Chan, Founder and CEO

Please read our regulatory information

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Learn more about partnering with Incline Equity.

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