Canada Cartage may be sold

| Friday, May 04, 2007

If investors and regulators approve the deal, a 93-year-old Canadian trucking company will be sold to a private equity firm based in Providence, RI.

According to media reports, Nautic Partners is offering $140 million for Canada Cartage, which operates a fleet of 1,500 trucks in 12 cities.

Canada Cartage was established in 1914 and offers trucking, warehousing, logistics and distribution services.

Private equity firms get their capital from private investors and often install their own management in companies they take over, with a goal of increasing that company’s profits.

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