TORONTO, Ont. – A US equity firm has acquired Canada Cartage as part of a deal worth more than $140 million, the company confirmed.
Nautic Partners CI LP of Providence, R.I. has agreed to pay $11.30 per share to acquire the income fund. Canada Cartage offers trucking, warehousing, distribution and logistics services in 12 Canadian cities.
It operates more than 1,500 trucks and 1,900 trailers and owns more than a million square feet of distribution and warehousing space. The deal is likely to be approved in late June.
– With files from the Canadian Press
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