I Squared-backed CubeCold names Kurt Pierloot CEO

Kurt Pierloot, most recently chief executive of Bleckmann and credited with more than 25 years of international leadership experience, has been named chief executive of CubeCold, the I Squared Capital-backed cold-storage and logistics platform that has assembled its European footprint through acquisitions of existing operators, according to IREI. Since forming in 2021, the company has grown to more than 30 facilities and more than 650,000 pallet positions across Belgium, France, Italy, the Netherlands, Spain and the United Kingdom, serving customers in food and pharmaceutical supply chains.

The deal count since inception has reached 14, the most recent being 24H Frost in France in April 2026 and Ferroice in Spain in March 2026; in 2025 the platform added SG, an Italian operator the report describes as close to CubeCold's existing facilities in the region. “CubeCold has established a strong platform in an essential part of Europe's supply-chain infrastructure,” Mohamed El Gazzar said, according to the report.

Every transaction in that count is the purchase of an existing operator rather than a new build, which puts CubeCold on the opposite side of a trade this publication has been tracking across commercial real estate: a construction freeze has pushed large managers toward development to capture scarcity pricing, while cold storage may simply reward the roll-up instead. SG's appeal, per the report, was proximity to CubeCold's existing Italian facilities, which suggests the platform is buying adjacency as much as capacity.

Pierloot's record at Bleckmann, which the report credits with growth, international expansion and operational transformation, suits a company that now has 14 businesses to knit into one network. The report sets out no integration agenda, however, and does not say whether the next phase of growth arrives through acquisition or development.

Which half of the job is heavier is a fair question after 14 deals in six countries, and the operating task now sits with a chief executive whose described strength is transformation. Whether the next move is another acquisition or CubeCold's first new build will show where the heavier work lies.