Canadian Pacific Railway acquires Argosy-backed Steelcare

Canadian Pacific Railway Ltd (TSX, NYSE: CP) has bought Steelcare Inc, a supplier of handling, transportation, transloading and storage of products for the domestic steel and metals industry. The value of the acquisition was not disclosed. Canadian Pacific said the deal will help it better equip and manage its supply chain and utilize the company's in-house expertise. It will also result in projected yearly revenue of about $10 million, Canadian Pacific said. Based in Hamilton, Ontario, Steelcare was a portfolio investment of Canadian private equity firm Argosy Partners.

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