Abu Dhabi-based private equity firm acquires Canada Cartage

August 10, 2022

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One of Canada’s largest transportation and logistics providers has been acquired by the United Arab Emirates state-owned investment fund. Abu Dhabi-based Mubadala Capital has reached an agreement to acquire trucking and logistics company Canada Cartage Announce on Monday.

in the Toronto area, Canadian Freight Founded in 1914. Today, it is one of the largest trucking companies in the country, with 4,000 tractors and trailers, 3,500 employees, and a network of 33 terminals, fulfillment centers and cross-docks across Canada.

Cartage Canada has two business units: Dedicated Transportation and Logistics. The company said the dedicated transportation segment manages customers’ transportation needs, allowing them to “achieve cost efficiencies and reallocate resources to core operations.”

The Logistics segment provides supply chain solutions including freight management of incoming and outgoing goods, order and inventory management, warehousing, fulfillment and final delivery to end customers.

Mubadala Capital is acquiring Canada Cartage from Nautic Partners, which acquired the company in 2007. Financial terms of the transaction have not been disclosed and are expected to close within the next 60 days.

Adib Martin Mattar, head of private equity at Mubadala Capital, said Cartage Canada has a solid track record of success over the past decade.

“We built our private equity business by partnering with exceptional management teams that run great companies. Canada Cartage is a prime example of both, and operates in an area where we have significant expertise: business services,” Mattar said in a statement. said in the statement. “The events of the past two years have reinforced the importance of effectively managing supply chains for companies and consumers.”

Jeff Lindsay, President and CEO of Canada Cartage, said the company is pleased to partner with Mubadala Capital and continue to grow.

“Their team shares our vision of building an industry leader focused on innovative supply chain solutions, strong customer partnerships and being a great place for people to work,” Lindsay said in a statement.

Founded in 2011, Mubadala Capital is the asset management subsidiary of Abu Dhabi, United Arab Emirates-based Mubadala Investment Company, a sovereign investor firm that manages a global portfolio of assets worth $243 billion.