QSL International welcomes iCON and CDPQ as new shareholders in strategic growth initiative

On February 23, 2024, QSL International Ltd. announced new shareholders, including iCON Infrastructure LLP and CDPQ, alongside existing management shareholders. iCON, an investor in North American and European infrastructure, and CDPQ, a global investment group, are supporting QSL's growth, especially in Québec. The company will continue under its current leadership in Québec, with a transaction completion expected by mid-2024.

Founder Denis Dupuis, who started QSL in 1978, will step down post-transaction, expressing pride in the company’s evolution and confidence in its future growth. QSL, praised for its maritime logistics services, is poised for further expansion with the support of its new shareholders.

The investment will bolster QSL’s role as a key player in North American logistics, with iCON and CDPQ committed to enhancing its market position. Financial advisement for the deal was provided by National Bank Financial for QSL, CIBC Capital Markets for iCON, and Scotiabank for CDPQ, with legal advisement from McCarthy Tetrault, Osler, Hoskin & Harcourt, and Norton Rose Fulbright, respectively. The specific transaction value was not disclosed.

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