$1.2B Canadian Cargo Sale: Logistec Corp. Acquired by Blue Wolf Capital Partners
America ı By Rihem Akkouche
291 0 Comments
Logistec Corp., the Canadian marine cargo handling company, has sealed a momentous deal, as private equity firm Blue Wolf Capital Partners LLC takes the helm in a transaction with a staggering enterprise value of approximately $1.2 billion. The agreement, masterminded by seven prominent firms, heralds a new chapter for Logistec.
Logistec's Transformation into a Private Entity
Under the meticulous terms of this landmark deal, 1443373 B.C. Unlimited Liability Co., an entity managed by Blue Wolf in collaboration with investment firm Stonepeak, will acquire all of Logistec's outstanding shares at a striking price of $67 per share. After more than five decades of being a publicly traded company on the Toronto Stock Exchange, Logistec is poised to delist and transition into a private corporation.
$1.2B Canadian Cargo Sale : Legal Counsel and Advisers
Logistec received legal counsel and advice from Fasken Martineau DuMoulin LLP and K&L Gates LLP, with Stikeman Elliott LLP representing Logistec's special committee to the board of directors. Stonepeak was advised by Sidley Austin LLP, while Davies Ward Phillips & Vineberg LLP acted on behalf of Logistec's principal shareholder, Sumanic. Blue Wolf enlisted the services of McCarthy Tétrault LLP and Willkie Farr & Gallagher LLP.
Logistec's Versatility in Cargo Services
Logistec is renowned for its specialized container cargo services provided to the marine community and industrial companies. With operations spanning 60 ports and 90 terminals across North America, Logistec doesn't stop at cargo services; it also offers environmental solutions such as renewing underground water mains, dredging, dewatering, and managing contaminated soils and materials.
President and CEO's Vision for the Future
Logistec's President and CEO, Madeleine Paquin, expressed her vision for the future. "Since my father started this business more than 70 years ago, we have grown into industry leaders. As we enter this next phase of our journey, we will continue to build a sustainable future by facilitating trade, handling our customers' goods safely, and protecting our environment as well as our water resources for the next generation."
$1.2B Canadian Cargo Sale : The Result of a Strategic Review
This monumental merger is the outcome of a rigorous review of strategic alternatives, initiated by a special committee of independent directors at Logistec, at the behest of its principal shareholder, Sumanic Investments Inc. Both the special committee and the board unanimously concurred that the agreement with Blue Wolf represents the maximum value for shareholders and have strongly recommended shareholder approval. Sumanic, wielding approximately 77% of the voting rights for Logistec's shares, has committed to voting in favor of the deal.
Future Plans and Investments
Upon the successful completion of the deal, Blue Wolf has made a pledge to retain Logistec's head office in Quebec. They intend to collaborate with the existing management teams to stimulate growth and invest over $200 million in capital expenditures and growth initiatives in the foreseeable future. Bennet Grill, a principal at Blue Wolf, enthusiastically exclaimed, "Blue Wolf is excited to enter the Quebec market with this acquisition, which represents excellent prospects for continued growth for both of the corporation's business segments and throughout North America."
$1.2B Canadian Cargo Sale : Financing the Deal
Blue Wolf intends to finance its part of the deal through capital managed on behalf of its limited partners, via private equity fund capital, select co-investors, and an additional preferred investment from Stonepeak.
Anticipated Closing in 2024
This significant agreement is slated to conclude in the first quarter of 2024, subject to customary closing conditions, including regulatory approvals and clearances in both Canada and the U.S., Logistec shareholder approval, and court endorsement.
TD Securities Inc. and Blair Franklin Capital Partners Inc.
TD Securities Inc. played a pivotal role as the exclusive financial adviser to Logistec. Full legal counsel information for Fasken Martineau and K&L Gates was not available at the time of reporting. Blair Franklin Capital Partners Inc. acted as the independent financial adviser to Logistec's special committee.
$1.2B Canadian Cargo Sale : Key Players in the Legal Landscape
Stikeman Elliott's team advising the special committee included partner David Massé, while Davies Ward's team advising Sumanic featured corporate/public M&A partner Brian Kujavsky and tax partners Marie-Emmanuelle Vaillancourt and Rhonda Rudick. Rothschild & Co. assumed the role of exclusive financial adviser to Blue Wolf. Willkie's team advising Blue Wolf was spearheaded by partner Laura Delanoy, with full legal counsel information for the McCarthy Tétrault team advising Blue Wolf pending.
Stonepeak and Sidley Austin's Expertise
The Sidley Austin team advising Stonepeak was composed of energy and infrastructure partners Tim Chandler and Daniel Allison, along with tax partner Angela Richards.
FOLLOW US
Recent Posts
Ancient Astronomers Warned That Strange Skies Precede Global Upheaval—Why Their…
Oil, War, and the Insurance Shockwave Already Hitting America
US Navy Prepares To Escort Tankers Through Strait of Hormuz…
War Insurance Reality Americans Face Even When the Battlefield Is…
“There Is Nothing They Can Do About It” Trump Declares…
Supreme Court Asked To Step In As 98-Year-Old Federal Judge…
Thomas Medlin Found Dead in Brooklyn Waters After Two-Month Search
Don’t Miss It
American Refuelling Aircraft Crashed in Iraq During Military Operation
By – Rachel MooreAstronomers Witness Birth of a Magnetar in Explosive Cosmic Event
By – Rachel MooreFirefly Launches Alpha Flight 7 Mission Successfully from California Spaceport
By – Rachel MooreMicrosoft Copilot Health AI Tool Launches to Help Users Understand Medical Data
By – Rachel MooreFTC Refunds for Invitation Homes: $47.2 Million Headed to Hundreds of Thousands of Renters
By – Rihem AkkouchePalantir and Nvidia Partnership Unveiled as AI Alliances Expand at AIPCon 9
By – Rihem AkkoucheOld Dominion University Shooting Investigated as Terrorism After Gunman Identified
By – Rihem AkkoucheGulf Travelers’ Jet Prices Soar as War Disrupts Middle East Air Travel
By – Rihem Akkouche
Kelly Warner Law Firm Blames USA Herald for Arizona Bar Investigation
In what appears as a desperate attempt to defend multiple allegations of fraud on the courts, the Kelly Warner Law…
By – USA Herald
Aaron Kelly Law Firm Resorts To Attacking Former Client Again On KellyWarnerLaw.com – Pattern Recognized
Attorney Aaron Kelly and his law partner Daniel Warner are currently under investigation by the Arizona Bar for legal misconduct.…
By – Jeff Watterson
Arizona Bar Opens Investigation on Attorney Aaron Kelly
USA Herald recently reported on a developing story involving Attorneys Daniel Warner and Aaron Kelly. Both Warner and Kelly have…
By – Paul O'Neal
Shooting at Michigan Synagogue Leaves Suspect Dead After Security Confrontation
A violent incident unfolded Thursday afternoon at Temple Israel, where authorities say a suspect rammed a truck into the synagogue…
By – Rihem Akkouche
Stolen Military Drones And The Emerging Threat of Foreign UAV Attacks On The California Coast
By Samuel A. Lopez | USA Herald – A quiet warning issued to California law-enforcement agencies has raised a troubling…
By – Samuel Lopez
Hollywood’s “Disclosure Day” And Washington’s Silence Raise Questions About Timing of UFO Transparency
By Samuel A. Lopez | USA Herald – A curious convergence is beginning to capture attention among observers of government transparency, national…
By – Samuel Lopez
The World Cup Security Reckoning: Trump Warns Iran Soccer Team About Safety As War Tensions Spill Into Global Sports
By Samuel A. Lopez | USA Herald – A short Truth-Social post from President Donald Trump on Thursday morning is now…
By – Samuel Lopez
Scientists Identify 22 Anomalies In Interstellar Object 3I/ATLAS As It Leaves The Solar System
By Samuel A. Lopez | USA Herald – The interstellar object 3I/ATLAS is now fading from view, heading back into deep space…
By – Samuel Lopez
Iran Appears To Have Conducted Its First Major Cyberattack Against A U.S. Company, Since The War Began – New Front Opens Against American Healthcare
An alleged Iran-linked cyberattack on Stryker appears to mark a dangerous turn in the conflict, pushing digital retaliation from nuisance-level…
By – Samuel Lopez
Iran Appears To Have Conducted Its First Major Cyberattack Against A U.S. Company, Since The War Began – New Front Opens Against American Healthcare
An alleged Iran-linked cyberattack on Stryker appears to mark a dangerous turn in the conflict, pushing digital retaliation from nuisance-level…
By – Samuel Lopez
Hormuz Shock Hits U.S. Legal And Insurance Sectors As War Risk, Cargo Claims And Contract Fights Begin to Spread
By Samuel A. Lopez | USA Herald – The developing Strait of Hormuz crisis is no longer just an energy-market…
By – Samuel Lopez
Beyond Gas Prices The Strait of Hormuz Crisis Could Hit Fertilizer, Plastics, Aluminum And Global Supply Chains
By Samuel Lopez | USA Herald – Right now, most Americans hearing about the Strait of Hormuz are thinking about…
By – Samuel Lopez
Fani Willis Blocked From Trump Fee Fight As Georgia Judge Lets $16.8 Million Reimbursement Battle Move Forward
INSIDE THIS REPORT A Georgia judge has ruled that Fulton County District Attorney Fani Willis cannot re-enter the collapsed Trump…
By – Samuel Lopez
FBI Bulletin Raises Troubling Questions About California’s Readiness
[USA HERALD] – A leaked FBI bulletin has now forced an uncomfortable question into the open along California’s coast. If…
By – Samuel Lopez
Cumulus Media Files for Chapter 11 as Radio Giant Moves to Cut Massive Debt
In a dramatic turn for one of America’s largest radio broadcasters, Cumulus Media has filed for bankruptcy protection, seeking a…
By – Rihem Akkouche
Cumulus Media Files for Chapter 11 as Radio Giant Moves to Cut Massive Debt
In a dramatic turn for one of America’s largest radio broadcasters, Cumulus Media has filed for bankruptcy protection, seeking a…
By – Rihem Akkouche
Gordie Howe Bridge Tolls Revealed Ahead of Spring Opening
The long-awaited Gordie Howe International Bridge is inching closer to welcoming travelers, and officials have finally unveiled a key piece…
By – Rihem Akkouche
Nasa Satellite to Crash to Earth as Spacecraft Re-enters Atmosphere
A Nasa satellite to crash to Earth has prompted warnings from space officials, who say debris from the aging spacecraft…
By – Rachel Moore
Lux Aeterna $10M Seed Funding Fuels Ambitious Reusable Satellite Vision
A Colorado startup aiming to change how satellites operate — and survive — in space has secured fresh investment to…
By – Rachel Moore
Jupiter’s Shift Direction Lights Up the Night Sky Again
Skywatchers may notice something unusual unfolding overhead this week as Jupiter’s shift direction brings an end to months of celestial…
By – Rachel Moore
Google and Tesla Power Grid Initiative Targets Lower Energy Costs
Two of the world’s most influential technology companies are stepping into the energy policy arena, launching a campaign they say…
By – Rachel Moore
Trump’s Laser Talk Sparks New Questions About America’s Secret Arsenal
President Donald Trump has once again done what he often does best in moments of war and tension: he dropped…
By – Samuel Lopez
The Northern Lights Return
The Northern Lights have a chance to be visible from several northern U.S. states on Tuesday night, forecasters at the…
By – Jackie Allen
February Unemployment Up as Job Losses Surprise Economists
February Unemployment Up as the latest labor market data revealed weaker-than-expected job growth and a slight increase in the national…
By – Jackie Allen
Late-Night Attack by Venezuelan National at Florida Beach
A Late-night attack by a Venezuelan National has left a Florida community shaken after authorities say a 26-year-old man ambushed…
By – Jackie Allen
Trump’s War in Iran: Congress Confronts Escalation After U.S. Strikes
Trump’s War in Iran was triggered open conflict, casualties, and renewed constitutional debate in Washington. The crisis intensified following reports…
By – Jackie Allen
U.S. And Israel Launch Major Strikes On Iran — What It Means For America
TEHRAN, Iran – In a dramatic escalation of global tensions, the United States and Israel launched coordinated military strikes against Iran…
By – Samuel Lopez
Google and Tesla Power Grid Initiative Targets Lower Energy Costs
Two of the world’s most influential technology companies are stepping into the energy policy arena, launching a campaign they say…
By – Rachel Moore
Medtronic to Buy Scientia Vascular in $550 Million Neurovascular Deal
In a move poised to reshape the future of stroke treatment technology, Medtronic to buy Scientia Vascular marks a major…
By – Rachel Moore
Winklevoss Twins’ Bitcoin Transfer Sparks Market Speculation
A wave of cryptocurrency movement tied to the founders of the Gemini exchange is drawing fresh attention across the digital…
By – Rihem Akkouche
Alabama Man Fatal Shooting Death Sentence Commuted by Governor
In a rare act of clemency that halted an imminent execution, the Alabama man fatal shooting death sentence tied to…
By – Rihem Akkouche
US Consulate Shooting in Toronto Triggers National Security Investigation
Authorities in Canada are investigating the US consulate shooting in Toronto after gunfire struck the diplomatic building early Monday morning…
By – Rihem Akkouche
ExxonMobil to Move to Texas in Historic Corporate Shift
In a move that could reshape the corporate map of one of America’s most powerful energy companies, ExxonMobil to move…
By – Rihem Akkouche
When The Files Are Finally Unsealed The Most Mind-Bending Truth May Not Be What We Expect
[USA HERALD] – There is a widespread assumption that if governments release their most highly classified files related to unidentified…
By – Samuel Lopez
Civil Rights Icon Rev. Jesse Jackson Dies at 84 As President Trump Issues Personal Tribute
[USA HERALD] — The Rev. Jesse Jackson, a towering figure of the American civil rights movement whose career spanned more than…
By – Samuel Lopez
Clues to Savannah Guthrie Missing Mom’s Disappearance Found on Security System
The disappearance of the mother of Savannah Guthrie has taken a dramatic turn as investigators focus on digital clues tied…
By – Jackie Allen
Mike Tyson Urges Americans to ‘Eat Real Food’ in Emotional Super Bowl Ad Highlighting Health Risks
Boxing legend Mike Tyson is using his platform ahead of Super Bowl 60 to address a personal and national health…
By – Tyler Brooks
Deadly “Death Cap” Mushrooms in California Cause Multiple Deaths and Liver Transplants Amid Rare Super Bloom
California health officials are warning the public after four deaths and three liver transplants linked to the highly toxic death…
By – Ahmed Boughalleb
From Migraines to Miracles: How Becca Valle Survived a Glioblastoma Diagnosis Against the Odds
Becca Valle, 41, thought her headaches were just migraines—until a sudden, unbearable pain revealed something far more serious. In September…
By – Tyler Brooks
Cadillac Names Inaugural Formula 1 Car MAC-26 in Tribute to Mario Andretti Ahead of 2026 Australian Grand Prix Debut
Cadillac has officially revealed the name of its first Formula 1 challenger, confirming that its 2026 car will be called…
By – Ahmed Boughalleb
Norway Tops Medal Table After Day 13 at 2026 Winter Olympics as Team USA Surges Into Second Place
With 13 days complete at the 2026 Milan Cortina Winter Olympics, Norway sits atop the overall medal standings, collecting 34…
By – Ahmed Boughalleb
Olympic Science Explained: How Figure Skaters Spin at Blinding Speeds Without Getting Dizzy
When Amber Glenn finishes her routine, the arena usually rises with her. The music builds, her blades carve a tight…
By – Tyler Brooks
Olympic Villages Run Out of Condoms at 2026 Milan-Cortina Games
Condom supplies in the Olympic Villages at the 2026 Winter Games have been temporarily depleted, the Milan-Cortina organizing committee confirmed,…
By – Tyler Brooks
Arizona Authorities Escalate Search for Savannah Guthrie’s Mom to a Criminal Investigation
In Arizona, police are intensifying their investigation into the disappearance of Nancy Guthrie, Savannah Guthrie’s Mom. The 84-year-old mother of…
By – Jackie AllenAs conversations around sexuality continue to expand, so does the language we use to describe it. Sexuality terms are gaining…
By – Jackie AllenNo posts found.
No posts found.
No comments yet. Be the first to comment!