Mubadala Capital has announced acquisition of Canada Cartage, a leading logistics platform.
Canada Cartage currently operates through a network of 33 facilities across Canada and comprises two business segments – dedicated transportation and logistics.
Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, said it has entered into a definitive agreement to acquire the Canadian firm.
Adib Martin Mattar, head of private equity at Mubadala Capital, said the investment venture has built its private equity business by partnering with exceptional management teams that run great companies.
“Canada Cartage is a prime example of both, and one that operates in a sector where we have significant expertise, which is business services,” Mattar said.
“We look forward to supporting its next phase of growth,” he added.
Jeff Lindsay, president and chief executive officer of Canada Cartage, said the Mubadala team shared its vision of building an industry leader that focuses on innovative supply chain solutions, strong customer partnerships, and being a great place for people to work.
Scotiabank acted as exclusive financial advisor to Mubadala Capital, while CIBC World Markets was acting as exclusive financial advisor to Canada Cartage.
BMO Capital Markets, Bank of Nova Scotia and RBC Capital Markets acted as joint book runners and co-lead arrangers for the financing provided to Mubadala Capital.
The acquisition deal is subject to closing conditions, including receipt of Canadian regulatory approvals, which is expected in the next 60 days.
Canada Cartage provides dedicated national fleet solutions, general freight services, managed transportation, fulfilment and distribution, and home delivery services to some of Canada’s largest blue-chip companies in the grocery, food, retail, and e-commerce sectors.
Its dedicated transportation business provides customers with expert management of their transportation needs, allowing them to realise cost efficiencies and reallocate resources towards core operations.
The company’s logistics business provides asset-light supply chain solutions including freight management of both inbound and outbound goods, order and inventory management, warehousing, fulfillment, and final delivery to both B2C and B2B end-consumers.
Across both businesses, Canada Cartage is deeply integrated into its customers’ supply chains, which develops and maintains long-term client relationships and operating efficiency.
Mubadala Capital is a differentiated and value-added investor that sources proprietary opportunities and actively leverages Mubadala Investment Company’s global network in its various business activities.
Follow us on
