Blue Wolf to Buy LOGISTEC for $C1.2B in All-Cash Deal
Blue Wolf Capital Partners, through its 1443373 B.C. Unlimited Liability Company, has purchased LOGISTEC Corp. for a total enterprise value of approximately C$1.2 billion.
Blue Wolf, in partnership with infrastructure and real assets firm Stonepeak, will pay C$67 per share in an all-cash deal, a 61.2% premium to the unaffected 20‑day volume-weighted average trading price per share on May 19, when it launched a review of alternative strategies for the company.
“We see significant opportunity to collaborate with Blue Wolf to drive value creation for our people, our customers, and our communities while rewarding our existing shareholders with an attractive cash consideration providing immediate and fair value for their shares,” said Madeleine Paquin, president and CEO of LOGISTEC.
The company is based in Montreal and offers services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 60 ports and 90 terminals located in North America.
LOGISTEC also offers marine transportation services geared primarily to the Arctic coastal trade as well as marine agency services to ship owners and operators serving the Canadian market.
Blue Wolf’s plans to invest over $200 million in capex and growth initiatives in the future. LOGISTEC’s head office will remain in Québec.