Mubadala Capital enters agreement to acquire Canada Cartage
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Mubadala Capital enters agreement to acquire Canada Cartage

Mubadala Capital enters agreement to acquire Canada Cartage

Canada Cartage currently operates through a network of 33 facilities across Canada and has two business segments, dedicated transportation and logistics

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Mubadala to acquire Canada Cartage Image Courtesy: Mubadala Twitter

Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, has signed a definitive agreement to acquire Canada Cartage.

The latter is a logistics platform that provides dedicated national fleet solutions, general freight services, managed transportation, fulfillment and distribution, and home delivery services to some of Canada’s largest blue-chip companies in the grocery, food, retail, and e-commerce sectors.

Canada Cartage currently operates through a network of 33 facilities across Canada and has two business segments, dedicated transportation, and logistics.

The ‘Dedicated Transportation’ business provides its customers with expert management of their transportation needs, allowing them to realise cost efficiencies and reallocate resources towards core operations. This segment secures essential transportation and distribution services that are embedded into customer operations and are predominantly comprised of contracted partnerships with customers that in many cases span decades and multiple economic cycles.

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.

Adib Martin Mattar, head of Private Equity at Mubadala Capital, said, “We have built our 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. We look forward to continuing to work with Canada Cartage’s management team, employees, and customers to build on the company’s strong legacy and support its next phase of growth.”

Jeff Lindsay, president and CEO of Canada Cartage, stated, “We are excited to partner with Mubadala Capital to help us to continue building a world-class transportation and logistics business. Their team shares our 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.”

The transaction is subject to customary closing conditions, including receipt of Canadian regulatory approvals, and is expected to close in the next 60 days.

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