On 16 October 2023, Montreal, Canada-based LOGISTEC Corporation entered into a definitive agreement to be acquired by private equity (PE) firm Blue Wolf Capital Partners and infrastructure investment firm Stonepeak. The deal values LOGISTEC—the parent company of water solutions brand ALTRA—at CA$1.2 billion (US$874 million), a 61.2% premium to LOGISTEC’s current stock price. LOGISTEC will be delisted from the Toronto Stock Exchange and taken private in the first quarter of 2024, pending shareholder approval.
The acquisition, one of seven ‘take-private’ water deals tracked this year, highlights the increasing role of PE in water.
In this Research Note:
- LOGISTEC focused on growth segments in water
- LOGISTEC set to benefit from a US$200 million growth investment
- Private equity’s appetite for publicly traded water firms grows