Mubadala Capital to acquire Canada Cartage, the leading short-haul trucking and logistics business in Canada


8 August, 2022 – New York, USA: Mubadala Capital, the wholly owned asset management subsidiary of Mubadala Investment Company, today announced the entry into a definitive agreement to acquire Canada Cartage (the “Company”), a leading logistics platform that provides dedicated national fleet solutions, general freight services, managed transportation, fulfilment & distribution, and home delivery services to some of Canada’s largest blue-chip companies in the grocery, food, retail, and e-commerce sectors.

Canada Cartage currently operates through a network of 33 facilities across Canada and is comprised of two business segments: Dedicated Transportation and Logistics. Canada Cartage’s Dedicated Transportation business provides its customers with expert management of their transportation needs, allowing them to realize cost efficiencies and reallocate resources towards core operations. This segment secures essential transportation and distribution services that are embedded into customer operations and are predominantly comprised of contracted partnerships with customers that in many cases span decades and multiple economic cycles.

The Company’s Logistics business provides asset-light supply chain solutions including freight management of both inbound and outbound goods, order and inventory management, warehousing, fulfillment, and final delivery to both B2C and B2B end-consumers.

Across both businesses, Canada Cartage is deeply integrated into its customers’ supply chains, which develops and maintains long-term client relationships and operating efficiency.

Adib Martin Mattar, Head of Private Equity at Mubadala Capital, said: “We have built our private equity business by partnering with exceptional management teams that run great companies. Canada Cartage is a prime example of both, and one that operates in a sector where we have significant expertise: business services. Since its founding in 1914, the Company has grown to play a critical role in Canada’s economy by supporting a wide range of essential sectors through economic cycles. The events of the last two years have reinforced how important it is to effectively manage the supply chain, for companies as well as consumers. We look forward to continuing to work with Canada Cartage’s management team, employees, and customers to build on the company’s strong legacy and support its next phase of growth.”

Habib Y Gorgi, Managing Director of Nautic Partners, noted: “We would like to thank the management team of Canada Cartage for their accomplishments over the past 15 years. During the course of our partnership, the team has performed exceptionally well in navigating through a variety of opportunities and challenges. We believe that the future is bright for Canada Cartage, and we are confident that the Company will continue to execute on its growth strategy in partnership with Mubadala Capital.”

Jeff Lindsay, President and CEO of Canada Cartage, added: “We have enjoyed exceptional growth since 2007 in collaboration with the team at Nautic Partners. Now we are excited to partner with Mubadala Capital to help us to continue building a world-class transportation and logistics business. Their team shares our vision of building an industry leader that focuses on innovative supply chain solutions, strong customer partnerships, and being a great place for people to work.”

Mubadala Capital is a differentiated and value-added investor that sources proprietary opportunities and actively leverages Mubadala Investment Company’s global network in its various business activities. Its highly disciplined and institutionalized process of evaluating investment opportunities provides unique advantages to the benefit of its investors.

Scotiabank is acting as exclusive financial advisor to Mubadala Capital and CIBC World Markets is acting as exclusive financial advisor to Canada Cartage. BMO Capital Markets, Bank of Nova Scotia and RBC Capital Markets acted as Joint Bookrunners and Co-Lead Arrangers for the financing provided to Mubadala Capital.

The transaction is subject to customary closing conditions, including receipt of Canadian regulatory approvals, and is expected to close in the next 60 days.


About Canada Cartage

Founded in 1914, Canada Cartage group of companies is one of the country’s largest transportation and logistics providers. Under the brand names of Canada Cartage, CCLS, Stalco, Kore Logistics, Speedee Transportation, Laurentien Transport, and Mackie Moving Systems, they provide dedicated contract transportation, general freight, managed transportation services, fulfillment and distribution, and home delivery services. The company has a workforce of over 4,000 at locations across the country. For more information, visit

About Mubadala Capital

Mubadala Capital is the wholly owned asset management subsidiary of Mubadala Investment Company, a $284 billion global sovereign investor headquartered in Abu Dhabi. Mubadala Capital manages c. $16 billion in aggregate across its own balance sheet investments and in third-party capital vehicles on behalf of institutional investors, including four private equity funds, three early-stage venture funds and two funds in Brazil focused on special situations.

For media inquiries, please contact:
David Zavitz, Chief Administrative Officer
Canada Cartage
1-800-268-2228, ext 10002