US private equity firms to acquire Montreal’s Paquin family owned Logistec Corp.

Chamber of Shipping > Blog > News > Local > US private equity firms to acquire Montreal’s Paquin family owned Logistec Corp.

Logistec Corp., a Canadian marine cargo handling and environmental services company, will be acquired by New York private equity firm Blue Wolf Capital Partners LLC and alternative investment firm Stonepeak. The buyers are offering $67 per share for Logistec in a deal that values the company at $1.2 billion, including debt. Logistec operates shipping operations from the Arctic to the Gulf of Mexico and has increased its profits in each of the last five years, with a net income of $54 million in its last fiscal year on sales of $898 million. The deal is at least the third proposed takeover by US-based buyers for a Quebec company this month, reflecting a currency dynamic that has increased the buying power of American businesses for Canadian assets.

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