I Squared Capital announced its portfolio company CubeCold, based in Rotterdam, the Netherlands, has expanded into Spain.
This marks CubeCold’s first entry into the Spanish market, a key region with strong fundamentals for cold storage infrastructure. CubeCold has also signed agreements to acquire Alfrisan and Alguazas Frio in southeastern Spain, further reinforcing its service capabilities and footprint in Europe.
CubeCold also has seen continued growth in Italy and Belgium. In the past six months, the company completed three strategic acquisitions: Sottozero in Italy, Sivafrost in Belgium and Frimercat in Spain. These acquisitions add 119,000 pallet positions to CubeCold’s network, now surpassing 450,000 pallet positions across major logistics corridors.
I Squared said this continued growth reinforces the firm’s commitment to building essential infrastructure across critical sectors and geographies, with cold storage playing a vital role in food security
