Mubadala Capital, the asset management subsidiary of Abu Dhabi’s Mubadala Investment Company, has announced that it has entered into a definitive agreement to acquire Canada Cartage.
Canada Cartage operates through a network of 33 facilities across Canada and comprises two business segments: Dedicated Transportation and Logistics.
Under the Dedicated Transportation solution, Canada Cartage is said to support its clients with managing their transport needs, letting them focus on their core business requirements. Under the Logistics section, which is aimed at B2C and B2B customers, the company offers services like asset-light supply chain solutions, order and inventory management, warehousing, fulfillment, and final delivery solutions.
In a press statement, 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 Canadian regulatory approvals and is expected to close within 60 days.
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