Algoma Central Corporation Acquires Lower Lakes Canadian Fleet from Mainstay Maritime

February 27, 2026

Algoma Central Corporation entered into a definitive agreement to acquire Mainstay Maritime Inc.’s three Canadian operating companies—collectively Lower Lakes—and a fleet of six Canadian-flagged vessels. The transaction is expected to close in Q1 2026 and includes Lower Lakes Towing Ltd. plus the lakers Kaministiqua, Manitoulin, Robert S. Pierson, Saginaw, Michipicoten, and Valo.

Buyers
Algoma Central Corporation
Targets
Mainstay Maritime Inc., Lower Lakes Towing Ltd., Kaministiqua, Manitoulin, Robert S. Pierson, Saginaw, Michipicoten, Valo
Sellers
Mainstay Maritime Inc.
Industry
Transportation
Location
Ontario, Canada
Transaction Type
Divestiture

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