Enstructure has agreed to acquire all marine terminal operations of Montréal-based LOGISTEC, adding a North American network covering 62 ports and 84 terminals across Canada and the US, according to Enstructure.
The deal brings LOGISTEC’s bulk, breakbulk and container cargo-handling business into Enstructure, including the Gulf Stream Marine and LOGISTEC Direct brands. Blue Wolf Capital Partners, LOGISTEC’s majority owner, will remain an investor in the combined company.
The transaction gives Enstructure a broader terminal and logistics platform across bulk, breakbulk, container, autos/RoRo and multimodal operations. The combined business will serve major trade corridors, industrial markets and supply chain customers in Canada and the US. LOGISTEC will keep its head office in Montréal, where it has operated for more than 70 years. The companies said workers’ jobs will be protected, with local leadership and operations maintained in Canada.
The transaction is subject to customary closing conditions. Blackstone Credit & Insurance, a strategic partner to Enstructure since 2022, and additional investors including OMERS are providing financing. Viking Global Investors, an Enstructure investor since 2022 through its private equity strategy, provided incremental equity capital.
Rothschild & Co acted as exclusive financial adviser to Enstructure. Latham & Watkins and Stikeman Elliott advised Enstructure on legal matters. TD Securities acted as exclusive financial adviser to LOGISTEC. Willkie Farr & Gallagher and McCarthy Tétrault advised Blue Wolf.
Blue Wolf will retain majority ownership of CoreAqua and Sanexen, the former LOGISTEC environmental services division. CoreAqua provides trenchless water infrastructure solutions, while Sanexen specialises in environmental services.
Enstructure is a privately owned port infrastructure and logistics company founded in 2016 by co-chief executives Philippe De Montigny and Matthew Satnick.
LOGISTEC is a Montréal-based terminal operator and logistics provider serving marine and industrial customers, with activities that also include Arctic marine transportation and marine agency services for shipowners and operators.