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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