Canada’s LOGISTEC Stevedoring Inc., a subsidiary of Montreal-based LOGISTEC Corporation, has announced the acquisition of the Canadian and US marine terminal business of Fednav, which includes Federal Marine Terminals, Inc. and Fednav Direct. The deal, valued at US$105 million, adds 11 terminals to LOGISTEC Stevedoring’s network, expanding its total to 90 terminals in 60 ports across North America.
Fednav is a privately owned shipping company and Canada’s largest international dry-bulk shipping group. Federal Marine Terminals (FMT) and Fednav Direct, the logistics division, are the key assets being acquired by LOGISTEC.
The acquisition will provide strategic gateways for existing and future customers, allowing LOGISTEC to establish a foothold in the Great Lakes region and access prime locations in the US Gulf and East Coast regions. Both companies have a long-standing business relationship, making the merger a natural fit with shared values and expertise.
As part of LOGISTEC’s strategic plan to expand its marine services, the acquisition will allow them to gain a footprint in new markets in both Canada and the USA. The transaction is expected to close by March 31, 2023, subject to customary closing conditions.
