Cando completes acquisition of Savage Rail, expands North American footprint

Cando Rail & Terminals has completed its acquisition of Savage Rail from Savage Enterprises, LLC, creating what the company says is North America’s market leader in first- and last-mile rail operating services and terminal infrastructure.

The deal gives Cando a significantly expanded presence across Canada and the United States, while allowing Savage to refine its business portfolio and focus on other growth areas.

The combined company now operates a coast-to-coast network that includes 36 railcar storage, staging and transload terminals, three short-line railways and 80 first- and last-mile rail service operations. The network also provides access to all six Class I railroads.

“Closing this transaction is an important milestone for Cando and a reflection of the great work both teams have done to bring these two highly complementary businesses together,” said Brian Cornick, president and CEO of Cando Rail & Terminals. “With Savage Rail now part of Cando, we are operating a broader, more connected platform across North America that strengthens how we serve our customers, positions us to deliver even greater reliability, efficiency and value, and provides opportunities for employees to grow within a dedicated, rail-focused organization. I’m excited about what we will accomplish together and confident in the strong future we are building for Cando.”

Savage said the transaction marks a new phase for its business, enabling greater focus on its core sectors.

“Today marks the beginning of exciting new chapters for both Cando and Savage,” said Jeff Roberts, president and CEO of Savage. “We look forward to seeing Cando’s achievements with their expanded network and watching our former team members thrive in a pure rail business. At the same time, the closure of this transaction solidifies our strategic focus on food and fuel industries, and unlocks new growth opportunities for our Bartlett, Energy & Mineral Services, Refinery Services and Texon businesses.”

Cando will maintain its global headquarters in Manitoba and plans to establish a new U.S. headquarters in Salt Lake City, Utah. Mike Miller, previously senior vice-president and rail services leader for Savage, has been appointed chief commercial officer at Cando.