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 Blue Wolf Capital Partners.
Following the transaction, Blue Wolf will remain an investor in the combined business.
LOGISTEC is headquartered in Montréal, Québec, and provides bulk, breakbulk, and container cargo-handling services and logistics solutions to marine and industrial companies across Canada and the U.S.
The combination of Enstructure and LOGISTEC, including the Gulf Stream Marine and LOGISTEC Direct brands, will create a larger North American marine terminal network 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. The companies said workers’ jobs will be protected and the combined company will continue building on LOGISTEC’s relationships with customers, employees, communities, and port partners.
Through the acquisition, Enstructure will expand capacity and connectivity across bulk, breakbulk, container, autos/RoRo, and multimodal logistics operations.
The combined company also plans to continue investing in infrastructure modernization, safety, technology, workforce development, and sustainability initiatives.
Blue Wolf will retain majority ownership of CoreAqua and Sanexen, previously LOGISTEC’s Environmental Services division. CoreAqua provides trenchless water infrastructure solutions, while Sanexen specializes in environmental services.
Blackstone Credit & Insurance, a strategic partner to Enstructure since 2022, and additional investors including OMERS are providing financing for the transaction. Viking Global Investors also provided incremental equity capital to support the deal.
Rothschild & Co acted as exclusive financial advisor to Enstructure. Latham & Watkins and Stikeman Elliott served as legal advisors to Enstructure. TD Securities acted as exclusive financial advisor to LOGISTEC. Willkie Farr & Gallagher and McCarthy Tétrault acted as legal advisors to Blue Wolf.
KEY QUOTES:
“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.”
Philippe De Montigny, Co-CEO of Enstructure
“This transaction brings together two highly respected organizations with shared values, complementary operations, and a long-term commitment to investing in marine infrastructure. 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.”
Matthew Satnick, Co-CEO of Enstructure
“LOGISTEC has built an exceptional business and reputation across Canada and North America. 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.”
Bennet Grill, Partner and Head of Industrials at Blue Wolf
“We are thrilled to support Enstructure in this next phase of the company’s growth. 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.”
Mark Rutledge, Senior Managing Director at Blackstone Credit & Insurance
