Logistec Corp.
  • LOGISTEC Corp. (TSX:LGT) has signed a definitive agreement to be acquired by Blue Wolf Capital Partners for C$67 per share
  • The agreement represents a total enterprise value of C$1.2 billion
  • Blue Wolf enters the Québec market with this acquisition and will maintain LOGISTEC’s head office in the province
  • LOGISTEC Corp. last traded at C$60.00 per share

LOGISTEC Corp. (TSX:LGT) has signed a definitive agreement to be acquired by Blue Wolf Capital Partners for C$67 per share.

The agreement represents a total enterprise value of C$1.2 billion.

Blue Wolf is funding its portion of the purchase price with capital it manages on behalf of its limited partners via private equity fund capital as well as select co-investors, together with an additional investment in the purchaser by alternative investment firm, Stonepeak.

Blue Wolf enters the Québec market with this acquisition and will maintain LOGISTEC’s head office in the province.

LOGISTEC’s board of directors had unanimously determined the transaction is in the best interests of the company and called the deal fair to its shareholders.

“Since my father started this business more than 70 years ago, we have grown into industry leaders,” LOGISTEC’s president and chief executive officer, Madeleine Paquin, said in a news release. “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. 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.”

Blue Wolf Capital Partners LLC is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors.

LOGISTEC Corp. provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in more than 60 ports and 90 terminals in North America. The company’s segments include marine services and environmental services.

LOGISTEC Corp. last traded at C$60.00 per share and its stock is up 60 per cent compared with this time last year.

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