LOGISTEC announces acquisition agreement with Blue Wolf

On October 16, 2023, LOGISTEC Corporation announced its acquisition by 1443373 B.C. Unlimited Liability Company, a Blue Wolf Capital Partners LLC and Stonepeak entity, for $67.00 per share, totaling approximately $1.2 billion. This arrangement, following a strategic review by a Special Committee at the request of principal shareholder Sumanic Investments Inc., represents a significant premium over recent share prices.

President and CEO Madeleine Paquin highlighted LOGISTEC's growth and future sustainability, with a focus on trade, environmental protection, and collaboration with Blue Wolf. The Board, led by Chairman J. Mark Rodger, unanimously endorsed the transaction as beneficial for shareholders and stakeholders.

The acquisition, funded by Blue Wolf and Stonepeak, involves maintaining LOGISTEC's Quebec headquarters and committing over $200 million in future investments. The transaction, recommended by LOGISTEC's Board and advised by TD Securities Inc. and Blair Franklin Capital Partners Inc., is expected to close in the first quarter of 2024. Legal advisors include Stikeman Elliott LLP and Fasken Martineau DuMoulin LLP for LOGISTEC, and McCarthy Tétrault LLP and Willkie Farr & Gallagher LLP for Blue Wolf. Davies Ward Phillips & Vineberg LLP advised Sumanic Investments Inc.

Deal Type

Merger & Acquisition

Industry

Other

Transaction

$ 1,200,000,000

Deal Status

Closed

Closing Date

08 January 2024