Canada Cartage sold to private asset firm

Mubadala Capital, a subsidiary of Mubadala Investment Company, is buying Canada Cartage from Nautic partners.

“We have enjoyed exceptional growth since 2007 in collaboration with the team at Nautic Partners. Now we are excited to partner with Mubadala Capital to help us to continue building a world-class transportation and logistics business,” said Jeff Lindsay, president and CEO of Canada Cartage.

“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.”

Founded in 1914, Canada Cartage group of companies is one of the country’s largest transportation and logistics providers. It provides services under the brand names of Canada Cartage, CCLS, Stalco, Kore Logistics, Speedee Transportation, Laurentien Transport, and Mackie Moving Systems.

Canada Cartage currently operates through a network of 33 facilities across Canada. The company has a workforce of over 4,000 at locations across the country.

Its dedicated transportation division secures transportation and distribution services primarily in the form of contracted partnerships with customers. The company’s logistics business provides asset-light supply chain solutions including freight management of both inbound and outbound goods, order and inventory management, warehousing, fulfillment, and final delivery to both B2C and B2B end-consumers.

Since its founding in 1914, the company has grown to play a critical role in Canada’s economy by supporting a wide range of essential sectors through economic cycles,” said Adib Martin Mattar, head of private equity at Mubadala Capital.

“The events of the last two years have reinforced how important it is to effectively manage the supply chain, for companies as well as consumers. 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.”

The transaction is subject to customary closing conditions, including receipt of Canadian regulatory approvals, and is expected to close in the next 60 days.