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Morocco Report > Business > Canada Cartage to be acquired by Mubadala Capital
Business

Canada Cartage to be acquired by Mubadala Capital

August 9, 2022
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A definitive agreement has been reached between Mubadala Capital, an asset management subsidiary of Mubadala Investment Company, and Canada Cartage, a leading logistics company. To some of Canada’s largest blue-chip companies in grocery, food, retail, and e-commerce, Canada Cartage provides dedicated national fleet solutions, general freight services, managed transportation, fulfillment, and distribution, as well as home delivery services.

Canada Cartage to be acquired by Mubadala CapitalWith 33 facilities across Canada, Canada Cartage operates two business segments, Dedicated Transportation and Logistics. In the Dedicated Transportation business, customers are able to achieve cost efficiency and reallocate resources to their core operations by having their transportation needs expertly managed. This segment provides essential transportation and distribution services embedded into customer operations and is primarily based on long-term contracts with customers that often span decades and multiple economic cycles.

Its Logistics business manages both inbound and outbound freight, manages orders and inventories, warehouses, fulfills orders, and delivers final goods to B2C and B2B customers. As a result, Canada Cartage has developed and maintained long-term relationships with its clients and operates efficiently across both businesses.

Through its various business activities, Mubadala Capital leverages the global network of Mubadala Investment Company to source proprietary opportunities. As a result of its highly disciplined and institutionalized process of evaluating investment opportunities, it provides investors with unique benefits.

Scotiabank is acting as Mubadala Capital’s exclusive financial advisor and CIBC World Markets is working as Canada Cartage’s exclusive financial advisor. RBC Capital Markets, Bank of Nova Scotia, and BMO Capital Markets acted as joint bookrunners and co-lead arrangers for Mubadala Capital’s financing. It is expected that the transaction will close within the next 60 days, subject to customary closing conditions, including receipt of Canadian regulatory approvals.

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Admin August 9, 2022
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