Enstructure agrees to buy LOGISTEC terminals to expand North American network

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Enstructure has agreed to acquire the marine terminal operations of LOGISTEC, in a deal that would combine two port and logistics networks across Canada and the United States.

The transaction covers LOGISTEC’s marine terminal division, including the Gulf Stream Marine and LOGISTEC Direct brands. LOGISTEC handles bulk, breakbulk and container cargo, and also provides trucking, warehousing, Arctic marine transport and agency services.

For shippers, the deal is not just another ownership change. It could affect how cargo moves through a wider network of terminals, inland links and industrial gateways. In practical terms, it is like connecting more stations on the same rail map. The value depends on how well the connections work when cargo volumes rise, vessels bunch, or inland capacity tightens.

LOGISTEC is based in Montréal and operates across a network of 62 ports and 84 terminals. Enstructure owns and operates port infrastructure assets across the U.S. East Coast, Gulf Coast and Inland River System.

LOGISTEC will keep its head office in Montréal, where the company has operated for more than 70 years. The companies said workers’ jobs will be protected, and the combined business will continue to support Canadian operations, local leadership and port infrastructure.

Enstructure Co Chief Executive and Montréal native Philippe De Montigny said the transaction provides the investment and support needed for LOGISTEC’s next phase of growth.

“This transaction provides the investment and support needed to drive the company’s next phase of growth while creating opportunities for its employees and the communities it serves across Québec, Canada, and the United States,” De Montigny said.

Enstructure Co Chief Executive Matthew Satnick said the deal combines two companies with complementary operations and a shared focus on marine infrastructure.

“By combining our capabilities, we are creating a stronger North American platform that will enhance supply chain solutions for our customers, support economic growth throughout our geographic regions, and create new growth opportunities for our company and employees,” Satnick said.

The acquisition would expand Enstructure’s reach across bulk, breakbulk, container, autos and RoRo cargo, as well as multimodal logistics. These are cargo segments where terminal reliability, storage space and inland connectivity often matter as much as berth availability.

For breakbulk and project cargo customers, the key question is straightforward. Will a larger terminal network reduce handoffs and improve cargo visibility, or will integration take time before operational benefits are felt?

The companies said the combined platform will support investment in infrastructure modernization, safety, technology, workforce development and sustainability initiatives. No financial terms were disclosed.

LOGISTEC is majority owned by New York based private equity firm Blue Wolf Capital Partners. After the transaction, Blue Wolf will remain an investor in the combined business.

Bennet Grill, Partner and Head of Industrials at Blue Wolf, said Enstructure is the right long term partner for LOGISTEC’s marine terminal business.

“LOGISTEC has built an exceptional business and reputation across Canada and North America,” Grill said. “We believe Enstructure is the right long term partner to support LOGISTEC’s continued growth and success.”

Blue Wolf will retain majority ownership and continue investing in CoreAqua and Sanexen, LOGISTEC’s former environmental services division. CoreAqua provides trenchless water infrastructure solutions, while Sanexen focuses on environmental services.

Blackstone Credit & Insurance, a strategic partner to Enstructure since 2022, is providing financing for the deal alongside additional investors including OMERS. Viking Global Investors, an Enstructure investor since 2022 through its private equity strategy, also provided incremental equity capital.

Rothschild & Co advised Enstructure financially, while Latham & Watkins and Stikeman Elliott acted as legal advisers. TD Securities advised LOGISTEC. Willkie Farr & Gallagher and McCarthy Tétrault advised Blue Wolf.

The transaction remains subject to customary closing conditions.