Mubadala Capital to acquire Canada Cartage
Canada Cartage currently operates through a network of 33 facilities
Abu Dhabi: Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, will acquire Canada Cartage, a logistics platform that provides dedicated national fleet solutions, general freight services, managed transportation, fulfilment and distribution, and home delivery services.
Canada Cartage currently operates through a network of 33 facilities across Canada and is comprised of two business segments, Dedicated Transportation and Logistics.
Adib Martin Mattar, Head of Private Equity at Mubadala Capital, said: “We have built our private equity business by partnering with exceptional management teams that run great companies. Canada Cartage is a prime example of both, and one that operates in a sector where we have significant expertise, which is business services. 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.