Logistec buys CapStreet's Gulf Stream Marine for $84 mln
Logistec Corp (TSX: LGT.A, LGT.B) has acquired Gulf Stream Marine Inc, a Houston-based marine terminal operator and cargo handling company. Logistec acquired the company's parent organization for about $83.9 million (US$65.7 million) in cash. The seller is U.S. private equity firm CapStreet Group, which recapitalized Gulf Stream in 2012. Logistec, a Montréal-based provider of cargo handling and port logistics services through facilities in eastern North America, said the deal expands its network of U.S. terminals and gives it a stronghold in the U.S. Gulf Coast region. Logistec is led by President and CEO Madeleine Paquin.
1 March 2018•3 mins read
