Tracked deals
84
84 tracked deals across 2019-2026.
Who's Buying Transportation Companies in Canada
Buyer mix
Mixed buyer set
73 strategic · 42 pe
Top trend
Volume peaked in 2026
23 tracked deals announced in 2026.
Primary Insight
What Stands Out
- Recurring buyer activity includes operators and sponsors such as Fastfrate Group, Westcap Mgt. Ltd., Blue Wolf Capital Partners, Norfolk Southern, Onex Partners, and Roynat Equity Partners.
- Subsector interests run from truckload/LTL and third-party logistics to towing, marine terminal operations, airports, and micro-mobility (e-scooters and e-bikes).
- Geographic deal coverage clusters around major provinces including Québec, Ontario, Alberta, and Nova Scotia.
- Multiple transactions emphasize network expansion—adding locations (e.g., dealerships and leasing operations) or strengthening national/regional distribution footprints.
- Modernization and operational improvement appear in deal rationales, including technology investments and planned infrastructure revitalization for aviation and logistics assets.
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Imperial Dade | 3 | North American distributor of foodservice packaging, jani... | Strategic |
| BDC Capital | 2 | Investment arm of the Business Development Bank of Canada... | PE |
| Blue Wolf Capital Partners LLC | 2 | Middle-market private equity firm focused on value invest... | PE |
| CAI Capital Partners | 2 | Vancouver-based private equity firm focused on partnering... | PE |
| Connect Manitoba Growth Fund LP | 2 | A Manitoba-focused investment fund in the Westcap-managed... | PE |
| Enstructure | 2 | North American marine terminal and logistics company that... | Strategic |
| Exchange Income Corporation | 2 | Diversified, acquisition-oriented public corporation focu... | Strategic |
| Fastfrate Group | 2 | Privately held transportation and supply chain provider o... | Strategic |
| Frind Enterprises | 2 | Family office (Frind Group) investing across real estate,... | Family Office |
| Mullen Group Ltd. | 2 | Canadian publicly traded logistics and transportation pro... | Strategic |
Acquisition Volume in Transportation in Canada by Year
Last 8 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
September 2, 2026
- Buyer
- Enstructure, Blue Wolf Capital Partners LLC
- Target
- LOGISTEC (marine services division)
- Seller
- Blue Wolf Capital Partners LLC
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Enstructure completed its acquisition of LOGISTEC’s marine services division, creating a larger, more diversified marine terminal and logistics network. Blue Wolf Capital Partners remains an investor, while Enstructure operates 106 terminals across 30 U.S. states and Canadian provinces and employs about 6,000 people. The expanded network spans more than 3,000 waterfront acres and handles about 70 million tons of cargo annually.
-
- Buyer
- Eagers
- Target
- CanadaOne Auto
- Seller
- Pat Priestner (and associated interests)
- Industry
- Transportation
- Location
- Canada
- Type
- Buyout
Eagers has completed its majority investment in Edmonton-based CanadaOne Auto, acquiring a 65% equity interest. The investment is structured as a continuing partnership, with founder Pat Priestner and associated interests retaining the remaining 35%.
-
- Buyer
- KNOT Offshore Partners LP, KNOT Shuttle Tankers AS
- Target
- Knutsen Canadian Chartering AS
- Seller
- Knutsen NYK Offshore Tankers AS
- Industry
- Transportation
- Location
- Canada
- Type
- Buyout
KNOT Offshore Partners LP’s wholly owned subsidiary, KNOT Shuttle Tankers AS, agreed to acquire Knutsen Canadian Chartering AS, the owner of the DP2 shuttle tanker Hedda Knutsen, from Knutsen NYK Offshore Tankers AS. The purchase price was set at $113.0 million, net of $89.4 million of outstanding indebtedness, plus $0.8 million of capitalized fees.
-
August 10, 2026
- Buyer
- Onex Partners (Onex Partners Opportunities Fund), Other co-investors
- Target
- AirSprint Inc.
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Buyout
Onex Partners and its acquisition co-investors have completed their previously announced acquisition of AirSprint Inc. The founder and CEO remain invested in the business, with Judson Macor continuing as Chairman Emeritus and James Elian retaining leadership and board participation.
-
August 6, 2026
- Buyer
- Fastfrate Group
- Target
- Jardine Transport Group
- Seller
- SeaFort Capital Inc., Certain members of the Jardine Transport Group executive team
- Industry
- Transportation
- Location
- Nova Scotia, Canada
- Type
- Buyout
Fastfrate Group acquired 100% of Jardine Transport Group from SeaFort Capital Inc. and certain members of Jardine’s executive team. The deal strengthens Fastfrate’s truckload, LTL, logistics, warehousing, and distribution capabilities while expanding Fastfrate’s presence in key Canadian markets.
-
- Buyer
- Access Holdings Management Company, LLC, Collaborative Capital Management (Independent Sponsor)
- Target
- Reliable Towing Holdings Ltd.
- Industry
- Transportation
- Location
- Canada
- Type
- Buyout
Access Holdings Management Company acquired a controlling stake in Reliable Towing Holdings Ltd., a towing, recovery, and roadside services platform based in the Pacific Northwest. The investment establishes Reliable Towing as a foundation for a regional platform Access plans to modernize and scale via technology, operations improvements, geographic expansion, and additional operator roll-ups.
-
- Buyer
- Maska
- Target
- Kenworth Montréal, PacLease Montréal
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Maska acquired Kenworth Montréal and PacLease Montréal operations, including four Kenworth dealerships, three TRP parts stores, and PacLease Montréal’s leasing operations. The deal was finalized July 15 and Maska assumed operations on Aug. 1, expanding Maska’s Quebec footprint and network to 19 locations.
-
August 3, 2026
- Buyer
- Holand Automotive Group, Holand Leasing
- Target
- John Scotti Leasing Inc
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Divestiture
Holand Automotive Group, through its leasing division Holand Leasing, completed the acquisition of a selected portion of the lease portfolio of John Scotti Leasing Inc. The deal was executed via a court-supervised judicial administration process, with Holand acquiring only those lease assets that best fit its ultra-luxury leasing model. The remainder of the portfolio stays under judicial administration.
-
July 3, 2026
- Buyer
- Lime Technology Canada, Lime
- Target
- Neuron Mobility Canada Ltd.
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Buyout
Lime Technology Canada announced it will acquire Neuron Mobility Canada Ltd. as a wholly owned subsidiary, taking over operations of Neuron’s e-scooters and e-bikes across multiple Canadian cities, including Lacombe, Red Deer, Blackfalds, Sylvan Lake, and others. Lime will assume operations following a brief transition period and ultimately operate its own vehicles under the Lime brand on a city-by-city basis over the coming months.
-
June 25, 2026
- Buyer
- Onex Partners (Onex Partners Opportunities Fund), TriWest Capital Partners, Other co-investors
- Target
- AirSprint Inc.
- Seller
- AirSprint founder Judson Macor (retains stake; becomes Chairman Emeritus after closing), AirSprint President & CEO James Elian (remains in executive role; remains on board), Certain current AirSprint shareholders (retain investment after closing)
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Buyout
Onex Partners (via its Opportunities Fund) and TriWest Capital Partners, alongside other co-investors, have agreed to acquire AirSprint Inc., Canada’s largest fractional private jet operator. The deal is expected to close in Q3 2026, with founder Judson Macor and CEO James Elian remaining investors and continuing leadership roles post-closing.
-
- Buyer
- Enstructure, Blue Wolf Capital Partners LLC
- Target
- LOGISTEC (marine terminal operations including Gulf Stream Marine and LOGISTEC Direct brands)
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Enstructure agreed to acquire all of LOGISTEC’s marine terminal operations, including the Gulf Stream Marine and LOGISTEC Direct brands, expanding Enstructure’s North American marine terminal network. LOGISTEC is headquartered in Montréal, and Blue Wolf Capital Partners will remain an investor in the combined business. The transaction is subject to customary closing conditions and is aimed at increasing capacity and connectivity across multiple cargo types.
-
June 16, 2026
- Buyer
- BTG Capital Inc., BTG Critical Infrastructure Co-Invest LP I, Stephenville International Airport Corp.
- Target
- Stephenville International Airport
- Industry
- Transportation
- Location
- Newfoundland and Labrador, Canada
- Type
- Buyout
BTG Capital, through BTG Critical Infrastructure Co-Invest LP I, announced the successful acquisition of Stephenville International Airport by Stephenville International Airport Corp. The deal establishes a long-term strategic aviation, logistics, and industrial infrastructure platform in Atlantic Canada, with BTG planning phased operational revitalization, infrastructure enhancement, and commercial development initiatives.
-
- Buyer
- Mighty Distributing System of America
- Target
- PREMA Canada
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
Mighty Distributing System of America announced its acquisition of PREMA Canada, effective June 2, 2026. The deal expands Mighty's automotive aftermarket distribution network into Canada and strengthens its North American presence.
-
- Buyer
- OK Tire Guelph Ownership Team
- Target
- OK Tire Kitchener Location
- Seller
- Ownership team behind OK Tire Guelph
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
OK Tire Guelph Ownership Team acquired the OK Tire location in Kitchener, Ontario from the previous ownership team behind OK Tire Guelph. The transaction closed on March 13, 2026, as part of continued growth within the OK Tire dealer-owned network.
-
April 24, 2026
- Buyer
- Nippon Express Holdings, Inc., NX Group
- Target
- Metro Supply Chain Group Inc.
- Seller
- Metro Supply Chain Group Inc. shareholders (Canadian sellers mentioned)
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Nippon Express Holdings, Inc. (NX Group) has entered an agreement to acquire 100% of Metro Supply Chain Group Inc., a third-party logistics provider based in Montreal. The deal is valued at CAD 1.8 billion on an enterprise value basis, with potential earn-out payments of up to CAD 400 million tied to performance targets.
-
- Buyer
- Nippon Express Holdings, Inc. (NX Group)
- Target
- Metro Supply Chain Group Inc.
- Seller
- LDC Metro Holdings Inc. (LDC), La Caisse de dépôt et placement du Québec (La Caisse), LDC Metro Holdings Inc. (
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Nippon Express Holdings (NX Group) agreed to acquire all shares of Metro Supply Chain Group Inc., a Montreal-headquartered third-party logistics (3PL) provider, in a deal valued at CAD 1.8 billion enterprise value plus potential earnout payments up to CAD 400 million. The transaction is expected to close in the coming months, subject to regulatory approvals. NX Group expects the acquisition to expand its North American footprint and enhance end-to-end logistics capabilities while Metro keeps its Montreal HQ and management team.
-
April 15, 2026
- Buyer
- Imperial Dade Canada, Imperial Dade
- Target
- Enterprise Paper Holdings, Ltd. (
- Industry
- Transportation
- Location
- British Columbia, Canada
- Type
- Buyout
Imperial Dade Canada entered into a definitive agreement to acquire Enterprise Paper Holdings, Ltd., a Canadian-owned distributor of paper, packaging, and janitorial products serving British Columbia and Alberta. The acquisition integrates Enterprise Paper into Imperial Dade’s platform to expand its foodservice packaging and janitorial distribution footprint across Western Canada.
-
February 27, 2026
- Buyer
- Algoma Central Corporation
- Target
- Mainstay Maritime Inc., Lower Lakes Towing Ltd., Kaministiqua, Manitoulin, Robert S. Pierson, Saginaw, Michipicoten, Valo
- Seller
- Mainstay Maritime Inc.
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Divestiture
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.
-
February 25, 2026
- Buyer
- Fastfrate Group
- Target
- Omnitrans Inc., Metro Customs Brokers Inc., Omnitrans China Ltd.
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Fastfrate Group entered into a definitive agreement to acquire Omnitrans Inc., including its subsidiaries Metro Customs Brokers Inc. and Omnitrans China Ltd. The deal expands Fastfrate’s logistics portfolio beyond North America into international freight forwarding and customs brokerage, with capabilities designed to move shipments between Asia and North America. The transaction was later reported as completed following Competition Bureau Canada approval.
-
February 12, 2026
- Buyer
- Chorus Aviation Inc.
- Target
- Kadex Aero Supply Ltd.
- Industry
- Transportation
- Location
- Canada
- Type
- Buyout
Chorus Aviation Inc. entered into an agreement to acquire Kadex Aero Supply Ltd., an independent distributor of aircraft parts and related repair and overhaul services. The deal is expected to close in the second quarter of 2026, for total consideration of approximately CAD 50 million (with customary adjustments and contingent consideration).
-
January 29, 2026
- Buyer
- Bosch Truck Group
- Target
- Dawson International Truck Centres (DITC)
- Seller
- Dawson Group (via Dawson International Truck Centres / DITC)
- Industry
- Transportation
- Location
- British Columbia, Canada
- Type
- Buyout
Bosch Truck Group acquired Dawson International Truck Centres (DITC), a full-service International and Isuzu commercial truck dealership group headquartered in Kamloops, British Columbia. Capital West Partners acted as exclusive financial advisor to DITC in the transaction.
-
January 20, 2026
- Buyer
- AutoCanada Inc.
- Target
- Modern Autobody
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Buyout
AutoCanada Inc. completed its acquisition of Modern Autobody, a single-location collision and refinish repair facility in Edmonton, Alberta. The deal expands AutoCanada’s collision repair footprint in the Edmonton market and strengthens its OEM luxury certification coverage, including for EV and premium brands.
-
- Buyer
- Vantage Group
- Target
- FSM Management Group, AvEnergy Management Group
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Vantage Group has acquired Montreal-based FSM Management Group and aviation energy logistics provider AvEnergy Management Group. The deal expands Vantage's aviation infrastructure capabilities—particularly in jet fuel and de-icing (glycol) infrastructure development, management and energy logistics—and broadens its service offering across airport and airline partners in Canada and globally.
-
December 19, 2025
- Buyer
- Union Pacific, Norfolk Southern
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Buyout
Union Pacific (UP) and Norfolk Southern (NS) refilled their merger application with the U.S. Surface Transportation Board (STB) after initially filing and later submitting revised materials. Canadian Pacific Kansas City (CPKC) publicly commented and urged stakeholders to participate, arguing the mega-merger is unnecessary and raises public-interest and market-power concerns.
-
September 16, 2025
- Buyer
- Zonar
- Target
- ez enRoute
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Buyout
Zonar has acquired ez enRoute, an Edmonton-based provider of IoT-enabled student tracking and dynamic routing, and integrated its routing engine to launch the Zonar Bus Suite — an all-in-one routing and fleet operations platform for school districts. The deal expands Zonar’s student transportation capabilities, delivering real-time routing, ridership visibility and parent communication features.
-
August 25, 2025
- Buyer
- Traffic and Parking Control Co., LLC (TAPCO), Peak Rock Capital
- Target
- Logix ITS
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Addon
Traffic and Parking Control Co., LLC (TAPCO), a Peak Rock Capital–backed provider of intelligent transportation systems, has acquired Logix ITS, the parent behind Traffic Logix, All Traffic Solutions and Parking Logix. The deal combines TAPCO’s vertically integrated manufacturing, distribution and services with Logix ITS’s hardware and cloud platform to create a broader connected-ITS offering serving thousands of devices and more than 4,000 municipal, law enforcement and commercial customers across the U.S. and Canada.
-
- Buyer
- Exchange Income Corporation
- Target
- Bradley Air Services Limited (operating as Canadian North)
- Seller
- Makivik Corporation
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
Exchange Income Corporation (EIC) has completed its acquisition of Bradley Air Services Limited, which operates as Canadian North, for a purchase price of $205 million (subject to adjustments), with $10 million paid in common shares. The acquisition expands EIC’s northern route network and infrastructure—adding passenger, cargo and charter services across 24 Arctic communities—and excludes the Montreal–Kuujjuaq route, which remains with vendor Makivik Corporation.
-
July 1, 2025
- Buyer
- LAZ Parking
- Target
- INDIGO Park Canada Inc.
- Seller
- INDIGO Group
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
LAZ Parking has acquired a 60% majority stake in INDIGO Park Canada Inc., creating North America's largest tech-driven parking, transportation, and mobility company. The deal reunites LAZ and the INDIGO Group, expands LAZ's footprint to more than 5,300 locations and 2 million parking spaces across North America, and will preserve IPC’s leadership under CEO John Laires; Argo Infrastructure Partners is an investor in LAZ and supported the transaction.
-
June 6, 2025
- Buyer
- Ferrovial, Canada Pension Plan Investment Board (CPP Investments), Public Sector Pension Investment Board (PSP Investments)
- Target
- 407 International Inc. (407 ETR)
- Seller
- Affiliates of AtkinsRéalis Group Inc., Canada Pension Plan Investment Board (CPP Investments)
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Growth capital
Ferrovial purchased a 5.06% equity stake in 407 International Inc. (407 ETR) for CAD 1.99 billion, acquiring shares from affiliates of AtkinsRéalis and exercising a call option to complete the transaction. The purchase increases Ferrovial's ownership in the Canadian toll highway from 43.23% to 48.29%; the announcement also notes concurrent transactions in which AtkinsRéalis sold a remaining 1.7% to CPP Investments and PSP Investments acquired a 7.51% interest from CPP.
-
- Buyer
- Swift Delivery Systems Canada Ltd.
- Target
- Atripco Delivery Service Ltd.
- Seller
- Service family (founders; named as building Atripco’s reputation)
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
Swift Delivery Systems Canada Ltd. (Swift) acquired Atripco Delivery Service Ltd. (Atripco), a family-owned courier and freight company specializing in same-day, final-mile, and dedicated fleet services. The transaction closed in February 2025, and financial terms were not disclosed. Swift said the acquisition expands its Greater Toronto Area footprint and strengthens its integrated logistics capabilities.
-
January 21, 2025
- Buyer
- Northway Aviation LP, Westcap Mgt. Ltd., Westcap MBO III Investment LP, Connect Manitoba Growth Fund LP
- Target
- SkyNorth Air Ltd.
- Industry
- Transportation
- Location
- Manitoba, Canada
- Type
- Addon
Northway Aviation LP, a Westcap-backed regional aviation platform, has acquired SkyNorth Air Ltd., a dedicated air ambulance provider operating in Manitoba. The deal combines complementary fleets and teams — creating a combined fleet of 17 aircraft and expanded essential medical and charter services across remote Manitoba and parts of Ontario.
-
January 15, 2025
- Buyer
- Krystal Growth Partners
- Target
- Seair Seaplanes
- Industry
- Transportation
- Location
- British Columbia, Canada
- Type
- Buyout
Krystal Growth Partners has acquired Seair Seaplanes, a regional seaplane operator serving coastal British Columbia. The investment will support operational and infrastructure improvements as Krystal and Seair explore opportunities to expand scheduled services, scenic tours, and charter offerings across the BC coast.
-
December 31, 2024
- Buyer
- Atlas Van Lines, Atlas Canada
- Target
- Orbit Brokers
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
Atlas Van Lines (through its Atlas Canada operations) has acquired Orbit Brokers, a Mississauga, Ontario–based customs brokerage firm, effective Jan. 1. The acquisition integrates Orbit Brokers into Atlas Canada's Connect Logistics division to expand cross‑border customs clearance capabilities and provide more seamless end‑to‑end relocation and logistics services across Canada and the United States.
-
December 17, 2024
- Buyer
- RELAM, Inc., Paceline Equity Partners
- Target
- Falcon Equipment Ltd.
- Industry
- Transportation
- Location
- British Columbia, Canada
- Type
- Addon
RELAM, a Paceline Equity Partners portfolio company, has acquired Falcon Equipment Ltd., a Surrey, British Columbia–based specialty truck and equipment solutions provider. The deal expands RELAM’s presence in the Canadian hi-rail and specialty truck markets, adds new end markets (building supply, utility, snow and ice, municipality), and preserves Falcon’s existing management team under President Dan Kielan.
-
December 4, 2024
- Buyer
- Mullen Group Ltd.
- Target
- Pacific Northwest (PNW) Moving / Pacific Northwest Investments
- Seller
- Founders and former owners of PNW (unnamed)
- Industry
- Transportation
- Location
- Yukon, Canada
- Type
- Buyout
Mullen Group Ltd. has acquired Pacific Northwest (PNW) Moving and its parent, Pacific Northwest Investments, expanding Mullen’s less‑than‑truckload (LTL) footprint into Northern Alberta and the Yukon. PNW will operate within Mullen Group’s LTL segment and brings two owned terminals (Whitehorse, Yukon and Edmonton, Alberta) plus local moving and storage capabilities; financial terms were not disclosed.
-
November 26, 2024
- Buyer
- GCM Grosvenor, Bluejay Capital Partners, LLC
- Target
- Mobil Grain Ltd.
- Seller
- AGT Food and Ingredients Inc.
- Industry
- Transportation
- Location
- Saskatchewan, Canada
- Type
- Divestiture
GCM Grosvenor, with co-investor Bluejay Capital Partners, has agreed to acquire Mobil Grain Ltd. and its operating subsidiaries from AGT Food and Ingredients Inc. The sale includes short-line rail operations, a port terminal in Thunder Bay and intermodal assets in Regina; financial terms were not disclosed and the transaction is expected to close in late 2024 or early 2025 subject to regulatory approvals.
-
November 8, 2024
- Buyer
- Aviation Starlink Inc.
- Target
- Services Aériens Lux Inc., Chrono Aviation Inc., Chrono Group
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
On November 8, 2024, Aviation Starlink Inc. closed the acquisition of certain assets of Services Aériens Lux Inc. and other affiliates of Chrono Aviation Inc., and completed related equity and debt financing for the Chrono Group. The transaction was approved by vesting and reverse vesting orders under the Companies' Creditors Arrangement Act (CCAA), and Aviation Starlink will also act as lender to fund the Group's operations post-closing. Aviation Starlink is an aviation-services operator controlled by Pierre Karl Péladeau and is headquartered in Dorval, Quebec.
-
- Buyer
- FP Partners
- Target
- Swift Messenger Delivery Systems Canada Ltd.
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
FP Partners completed its acquisition of Swift Messenger Delivery Systems Canada Ltd. (Swift), a regional multi-service carrier serving the Ottawa–Gatineau area, with the deal closing in March 2024 (financial terms undisclosed). The parties aim to leverage FP Partners’ operational expertise to build a transport and logistics platform and support Swift’s next growth phase.
-
May 8, 2024
- Buyer
- TFI International
- Target
- MJ Lavoie
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
TFI International acquired Canada-based specialty truckload carrier MJ Lavoie, a waste hauler founded in 1992 that specializes in hauling compostable and recyclable materials and residential waste management. Terms were not disclosed; the deal is a small tuck-in intended to bulk up TFI’s truckload holdings ahead of an anticipated spin-off and follows its recent Daseke acquisition.
-
April 12, 2024
- Buyer
- Parts for Trucks
- Target
- Trailine Trailer Parts
- Industry
- Transportation
- Location
- British Columbia, Canada
- Type
- Buyout
Parts for Trucks has acquired Trailine Trailer Parts to expand its national parts and service network across Canada. The combined business strengthens Parts for Trucks' footprint to 30 parts warehouses and 14 service facilities, enhancing parts distribution and service capabilities for the heavy-duty trucking industry.
-
March 13, 2024
- Buyer
- Vanair
- Target
- Grip Idle Management
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
Vanair has acquired Grip Idle Management, integrating Grip’s patented vehicle idle-reduction technology into Vanair’s EPEQ idle management product line. The acquisition will combine both companies’ systems to expand Vanair’s product portfolio, enhance telematics integration and reduce fuel consumption, engine hours and emissions for fleet customers.
-
March 6, 2024
- Buyer
- Westcap Mgt. Ltd., Westcap MBO III Investment LP, Connect Manitoba Growth Fund LP
- Target
- Northway Aviation LP, Northway Aircraft Leasing LP
- Seller
- Johnson family (current ownership group)
- Industry
- Transportation
- Location
- Manitoba, Canada
- Type
- Growth capital
Westcap Mgt. Ltd., through its funds Westcap MBO III Investment LP and Connect Manitoba Growth Fund LP, has made a growth investment in Northway Aviation LP and Northway Aircraft Leasing LP. The Johnson family (current owners) will retain a significant stake as Westcap supports Northway's plans to expand scheduled and charter passenger and freight services to additional communities across northern Manitoba and western Ontario.
-
January 9, 2024
- Buyer
- Blue Wolf Capital Partners, Stonepeak
- Target
- LOGISTEC Corporation
- Seller
- Sumanic Investments Inc.
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Blue Wolf Capital Partners, in partnership with Stonepeak, has completed the acquisition of Montreal-based LOGISTEC Corporation for approximately C$1.2 billion, taking the company private. Blue Wolf has committed to keep LOGISTEC's head office in Québec and plans more than C$200 million in capital expenditures and growth initiatives to expand the marine terminal and environmental services business.
-
- Buyer
- Astatine Investment Partners
- Target
- McKeil Marine Limited
- Seller
- TorQuest Partners
- Industry
- Transportation
- Location
- Ontario, Canada
- Type
- Buyout
Astatine Investment Partners, a Greenwich, Connecticut–based infrastructure-focused private equity firm, has acquired McKeil Marine Limited, a Canadian marine transportation and project services provider, from TorQuest Partners. Astatine said it will partner with McKeil's management to expand the company's service offerings and fleet while leveraging McKeil's long-term inflation-linked contracts to provide downside protection.
-
- Buyer
- Genesee & Wyoming Canada Inc., Genesee & Wyoming Inc.
- Target
- BMS Locomotive Service Group Inc.
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Buyout
Genesee & Wyoming Canada Inc., a subsidiary of Genesee & Wyoming Inc., has completed the acquisition of BMS Locomotive Service Group Inc., a Edmonton-headquartered provider of locomotive inspection, maintenance, refurbishment and repair services. The deal brings BMS's 10-person operation into G&W Canada's service offering, expanding the company's locomotive maintenance capabilities and footprint in Western Canada; terms were not disclosed.
-
- Buyer
- Trimac Transportation
- Target
- Transport Sylvain Lasalle
- Seller
- Sylvain Lasalle
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Buyout
Trimac Transportation has acquired Transport Sylvain Lasalle, a Quebec-based bulk pressure carrier specializing in propane and butane transport. The deal adds two Quebec locations (Joliette and St. Hyacinthe), a fleet of 28 tractors and 30 trailers, and an operations team to Trimac’s network as it expands its presence in Eastern Canada.
-
April 17, 2023
- Buyer
- American Track Services, DFW Capital Partners
- Target
- Universal Rail Systems
- Seller
- TorQuest Partners (investor group led by TorQuest)
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Addon
American Track Services (a portfolio company of DFW Capital Partners) has acquired Universal Rail Systems, Canada’s largest provider of rail infrastructure inspection, maintenance, repair and construction. The deal creates a new parent, North American Rail Solutions, combining ATS' U.S. footprint with URS' Canadian operations to create a continent-wide rail services platform; URS was sold by an investor group led by TorQuest Partners.
-
February 13, 2023
- Buyer
- First Student
- Target
- Dufresne Group
- Seller
- Bernard Roy
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Addon
First Student has completed the acquisition of Montreal-based Dufresne Group, a provider of school transportation, coach and transit passenger services with a fleet of 542 vehicles. The deal expands First Student’s home-to-school operations in Eastern Canada and brings Dufresne’s team and contracts under First Student’s Autobus Transco brand; terms were not disclosed.
-
- Buyer
- Alpenglow Rail Services Corp., Connor, Clark & Lunn Infrastructure
- Target
- Alberta Midland Railway Terminal Ltd.
- Industry
- Transportation
- Location
- Alberta, Canada
- Type
- Addon
Alpenglow Rail Services Corp. and Connor, Clark & Lunn Infrastructure have acquired Alberta Midland Railway Terminal Ltd. (AMRT), a 300-acre dual-served rail terminal in Lamont County, Alberta serving the Edmonton Industrial Heartland. The acquisition expands Alpenglow/CC&L's rail terminal portfolio in North America and will add transloading, railcar cleaning and repair services to AMRT's offering.
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- Buyer
- Fonds de solidarité FTQ
- Target
- Corporation Andy Amérique du nord inc.
- Industry
- Transportation
- Location
- Quebec, Canada
- Type
- Growth capital
Fonds de solidarité FTQ has taken a minority equity stake in Corporation Andy Amérique du nord inc., a Montreal-based transportation, maintenance and fleet-management services provider. The investment will support Andy Corp.'s acquisition-driven growth plan; the company has grown from about 60 employees in 2012 to more than 400 across four business units by 2022.
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Frequently Asked Questions
Which transportation subsectors are most active in Canada acquisitions on this page?
The page highlights deals across trucking (including truckload and LTL), third-party logistics, towing and roadside recovery, marine terminal operations, aviation (including an airport and fractional private jet ownership), and micro-mobility.
What types of buyers appear in these Canadian transportation acquisitions?
Buyers include transportation operators (e.g., Fastfrate Group, Maska, Lime Technology Canada) and investment firms/sponsors and their portfolio companies (e.g., Onex Partners, Blue Wolf Capital Partners, Access Holdings).
Where in Canada are the deals concentrated?
Recent locations include Canada broadly, with notable activity mentioned in Québec, Ontario, Alberta, Nova Scotia, and Newfoundland and Labrador.
Do these transactions typically focus on platform building or add-on expansion?
Many deals are framed around scaling and expansion—such as growing a distribution or logistics network, adding operating locations, or establishing a foundation for further roll-ups and modernization.