Enstructure to acquire Logistec Marine Terminal Division

Enstructure announced that it has entered into an agreement to acquire all of the marine terminal operations of Logistec, a multi-purpose terminal operator and logistics service provider majority-owned by New York-based private equity firm Blue Wolf Capital Partners LLC (Blue Wolf). Following the transaction, Blue Wolf will remain an investor in the combined business.

Headquartered in Montréal, Québec, with operations in Canada and the United States, Logistec provides bulk, breakbulk, and container cargo-handling services and logistics solutions to marine and industrial companies. Enstructure, a privately owned company, delivers materials and goods to the global economy while focusing on innovative supply chain solutions for its customers.

Together, Enstructure and Logistec, which includes its Gulf Stream Marine and Logistec Direct brands, will create a leading network of marine terminals across North America. The combined organization will operate a highly complementary network of terminals and logistics assets serving major trade corridors, industrial markets, and supply chain customers.

Logistec will maintain its head office in Montréal, where the company has operated for more than 70 years. Workers' jobs will be protected, and the combined company intends to build on Logistec’s longstanding relationships with customers, employees, communities, and port partners to strengthen its presence in Canada and in the United States and unlock new opportunities in the maritime industry.

“This transaction provides the investment and support needed to drive the company’s next phase of growth while creating opportunities for its employees and the communities it serves across Québec, Canada, and the United States. Enstructure and Logistec share a strong alignment in mission and vision, and we are proud to welcome the Logistec team into the Enstructure network,” said Enstructure Co-CEO and Montréal native Philippe De Montigny.

“This transaction brings together two highly respected organizations with shared values, complementary operations, and a long-term commitment to investing in marine infrastructure,” said Enstructure Co-CEO Matthew Satnick. “By combining our capabilities, we are creating a stronger North American platform that will enhance supply chain solutions for our customers, support economic growth throughout our geographic regions, and create new growth opportunities for our company and employees.”

“Logistec has built an exceptional business and reputation across Canada and North America,” said Bennet Grill, Partner and Head of Industrials at Blue Wolf. “We are proud of what the company and its employees have accomplished, and we believe Enstructure is the right long-term partner to support Logistec’s continued growth and success. We look forward to partnering with the Enstructure team as investors in the combined business.”

Through this acquisition, Enstructure will expand capacity and connectivity across bulk, breakbulk, container, autos/RoRo, and multimodal logistics operations while enabling continued investment in infrastructure modernization, safety, technology, workforce development, and sustainability initiatives.

The transaction, which is subject to customary closing conditions, will result in long-term investment and growth across North America. The combined company will continue to support Canadian jobs, maintain local leadership and operations, and invest in Canadian port infrastructure and communities.

Blue Wolf will retain majority ownership and continue to invest in the growth of CoreAqua and Sanexen, previously Logistec's Environmental Services division. CoreAqua is a leading provider of trenchless water infrastructure solutions, while Sanexen specializes in environmental services.

Blackstone Credit & Insurance (“BXCI”), a strategic partner to Enstructure since 2022, and additional investors, including OMERS, are providing financing for the transaction. “We are thrilled to support Enstructure in this next phase of the company’s growth,” said Mark Rutledge, Senior Managing Director at BXCI. “This demonstrates our ability to be a flexible, one-stop capital solutions provider to companies and our continued conviction in infrastructure and asset-based sectors.”

Viking Global Investors, an investor in Enstructure since 2022 via its private equity strategy, provided incremental equity capital to support the transaction.

Rothschild & Co acted as exclusive financial advisor to Enstructure. Latham & Watkins LLP and Stikeman Elliott LLP served as legal advisors to Enstructure. TD Securities acted as exclusive financial advisor to Logistec. Willkie Farr & Gallagher LLP and McCarthy Tétrault LLP acted as legal advisors to Blue Wolf.