Date Closed

January 9, 2024

Lead Office

Vancouver

Value

1.20 Billion CAD

On January 9, 2024, Blue Wolf Capital Partners LLC ("Blue Wolf"), in partnership with Stonepeak, announced that it has completed its acquisition of LOGISTEC Corporation ("LOGISTEC") pursuant to a plan of arrangement under the Business Corporations Act (Quebec). Blue Wolf acquired all of the issued and outstanding shares of LOGISTEC for C$67.00 in cash per share, representing a total enterprise value of approximately C$1.2 billion. Blue Wolf funded the equity portion of the purchase price with capital it manages on behalf of its limited partners via private equity fund capital and other co-investors, together with an additional preferred investment in the purchaser by Stonepeak. The debt portion of the purchase price was funded by a credit facility with a syndicate of lenders led by TD Bank.

Blue Wolf, based in New York City, New York, is a middle market private equity firm that invests in buyouts, recapitalizations and growth capital opportunities.

LOGISTEC, headquartered in Montreal, Quebec, is a corporation that provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo, operating 90 marine terminals throughout North America. LOGISTEC also offers marine transportation services geared primarily to the Arctic coastal trade as well as marine agency services to shipowners and operators serving the Canadian market. Furthermore, the Corporation operates in the environmental industry where it provides services to industrial, municipal, and other governmental customers for the renewal of underground water mains, dredging, dewatering, contaminated soils and materials management, site remediation, risk assessment, and manufacturing of fluid transportation products.

McCarthy Tétrault LLP advised Blue Wolf with a team led by Robin Mahood (M&A) and Marjolaine Hémond Hotte (Debt Financing) that included Patrick Shea, Konstantin Sobolevski, Geena Lee, Alexandra Comber, Javeria Qureshi, Mariya Voloshyn, Alykhan Rahim, Dinah Holliday, Diana Wang, Sheema Rezaei, Sarah Xu, Declan Sakuls, Hezekiah Davies, Sandra Belton (Corporate), Jean Charest (Government Strategy), Brian Lipson, Asma Boudoukha (Transportation and Logistics), Cristelle Sary, Kelleher Lynch (Pensions, Benefits, & Executive Compensation), Oliver Borgers, Erin Keogh, Gideon Kwinter (Competition/Antitrust & Foreign Investment), Nicole Deniset, Trevor Lawson, Andrew Weizman (Labour and Employment), Richard O’Doherty, Genevieve Loxley, Kara Bodie, Xinya Wang, Mathilde Melançon-Brais, Achille Treuil, Matthew Yensen, Jennifer Sun, Florence Tardif (Financial Services), Vincent Yip, Jeff Sun (Intellectual Property), Jade Buchanan (Privacy), Annie Gagnon-Larocque, Mary Pagonis, Carly Caruso, Xin Yue Zhang, Sarah Murphy, Thierry Côté, Nicholas Alevras (Real Property and Planning), Brett Anderson, Kim Brown, Stephanie Dewey, Alexandra Carbone (Tax), François Giroux, Rosemarie Sarrazin (Litigation), Martha Harrison and Oksana Migitko (International Trade and Investment).