Blue Wolf Capital announced Monday that they are acquiring, in partnership with Stonepeak, the Canada-based shipping specialists Logistec in an all-cash deal that values the company at $1.2 billion.
Under the agreement Logistec will become a privately held company and will no longer be traded on the Toronto Stock Exchange.
Based in Montreal, Logistec provides shipping containers and cargo handling in 60 ports and 90 terminals across North America, as well as a variety of environmental, dredging and decontamination services. The government of Quebec is said to be interested in its own investment in the company to help keep Logistec’s offices in Montreal. Both Blue Wolf and Stonepeak are headquartered in New York.
TD Securities Inc. is acting as exclusive financial advisor to Logistec and Blair Franklin Capital Partners is acting as independent financial advisor to the company’s special committee. Rothschild & Co is acting as exclusive financial advisor to Blue Wolf.
Stikeman Elliott is acting as independent legal advisor to the Logistec’s special committee with Fasken Martineau DuMoulin and K&L Gates advising the corporation.
McCarthy Tétrault and Willkie Farr & Gallagher are acting as outside legal counsel to Blue Wolf and Davies Ward Phillips & Vineberg is advising Sumanic Investments, a Canadian investment firm that holds voting control of Logistec.
Stonepeak is advised by Sidley Austin with a mostly Texas team led from Houston by partner Tim Chandler and senior managing associate Jeff Kinney along with associates Jack Messer and Kevin Hess (all Energy and Infrastructure). Other team members included partners Angela Richards (Tax), Daniel Allison (Energy and Infrastructure), counsel Edward Sharon (Antitrust/Competition), senior managing associate Quan Lu (Energy and Infrastructure), and managing associate Alvin Wang (Energy and Infrastructure).