“Logistec of Quebec Acquired for $1.2 Billion”

"Logistec of Quebec Acquired for $1.2 Billion"

Logistec, a Quebec-based bulk-goods-terminal company, has been acquired by U.S. investment firms Blue Wolf Capital Partners and Stonepeak for $1.2 billion in a deal announced on Monday. This transaction has significant implications for industrial and commercial real estate in Quebec and throughout North America.

Under the plan of arrangement, New York-based Blue Wolf and Stonepeak will purchase Logistec at $67 per share through a co-owned fund. The Paquin family, who founded the company in 1952, have controlled Logistec until now.

The offer represents an impressive 61.2% premium above Logistec’s 20-day volume-weighted average class A share trading on May 19th as well as a remarkable 62.2% premium to the class B stock price over that same period on the Toronto Stock Exchange.

This acquisition will take Logistec private while ensuring its continued headquarters remain in Quebec.The two investment firms also plan to invest over $200 million into capital expenditures and growth initiatives.

Additionally,the government of Quebec is currently discussing purchasing a stake in Logistec with Blue Wolf according to Guy LeBlanc,president,and CEO of Investissement Québec,a news release stated.

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