38 American Journal of Transportation American Journal of Transportation ajot.com remain an investor in the com- bined Enstructure and LOGIS- TEC business. Enstructure, is a relatively new operator compared to many national and international termi- nal operators, having opened its doors in 2016 and subsequently purchased its first terminal, CD Terminals in Wiona, Minne- sota, in 2017. The privately held Enstructure was founded by Co-CEOs Philippe De Montigny and Matthew Satnick, which rap- idly built the terminal operator through a wide range of diverse acquisitions which included ter- minals, warehouses and cold storage facilities along key corri- dors of the US. From that single terminal on the Mississippi River, Enstructure remarkably has built a network of 22 termi- nals and related logistics busi- nesses in less than a decade. Although the mega-deal was surprising, in many respects it shouldn’t be startling. For example, Enstructure’s Co-CEO Philippe De Montigny himself is a Montréal native. De Mon- tigny noted in the release of the deal the importance of LOGIS- TEC to Quebec and Canada, “This transaction provides the investment and support needed to drive the company’s [Enstruc- ture] next phase of growth while creating opportunities for its employees and the communities it serves across Québec, Canada, and the United States. Enstruc- ture and LOGISTEC share a strong alignment in mission and vision, and we are proud to wel- come the LOGISTEC team into the Enstructure network.” Additionally, “LOGISTEC will maintain its head office in Montréal, and workers’ jobs will be protected. Further the com- bined company intends to build on LOGISTEC’s longstanding relationships with customers, employees, communities, and port partners to strengthen its presence in Canada and in the US and unlock new opportuni- ties in the maritime industry,” according to the release. Bennet Grill, Partner and Head of Industrials at Blue Wolf, said of the mega-deal, “LOGIS- TEC has built an exceptional business and reputation across Canada and North America.” Adding, “We are proud of what the company and its employ- ees have accomplished, and we believe Enstructure is the right long-term partner to support LOGISTEC’s continued growth and success. We look forward to partnering with the Enstructure team as investors in the com- bined business.” Further, Blue Wolf intends to retain majority ownership and will continue to invest in the growth of CoreA- qua and Sanexen, previously LOGISTEC’s Environmental Services division. CoreAqua is a leading provider of trenchless water infrastructure solutions, while Sanexen specializes in environmental services. On the Enstructure side of the agreement, private equity also played a major role as Viking Global Investors, an investor in Enstructure since 2022, provided incremental equity capital to sup- port the transaction. “This transaction brings together two highly respected organizations with shared values, complementary operations, and a long-term commitment to invest- ing in marine infrastructure,” said Enstructure Co-CEO Mat- thew Satnick. “By combining our capabilities, we are creating a stronger North American platform that will enhance supply chain solutions for our customers, sup- port economic growth throughout our geographic regions, and create new growth opportunities for our company and employees.” Now with the combination of LOGISTEC and Enstructure together, the new network will consist of around 106 terminals primarily located from the Missis- sippi River to the East Coast and Gulf. As with any mega-merger, integration will take some time, but Enstructure was built through acquisitions which should make the path a little easier. Ultimately, the bottom line is that the new Enstructure is now one of the few major marine terminal companies in North America, alongside major termi- nal companies like Carrix-owned SSA and Ports America. (ACQUIRES – continued from page 32) Bird returns to Port of Montreal to take over as new President and CEO By Leo Ryan, AJOT (RETURNS – continued on page 40) After barely two months ago suddenly leav- ing Canada’s second biggest container port as chief commercial officer to take up another post, Paul Bird is returning on June 8 as new president and CEO to notably pursue the advance of the port’s biggest expansion in decades. Such news broke last Friday in the latest development seeking to restore continuity and stability following a period of corporate upheaval this spring punctuated by the abrupt departure from the helm of Julie Gascon. In a press release, the Mon- treal Port Authority (MPA) stated that Bird’s appointment as pres- ident and CEO comes at a new strategic phase for the organiza- tion, marked in particular by the recent securing of a $1.16 billion loan from the Canada Infrastructure Bank to support the Contrecœur container terminal project, whose economic strength has been recog- nized by Standard & Poor’s. In accordance with sound governance practices, the Board of Directors’ succession plan was implemented when the CEO position became vacant. “We are very pleased to welcome Mr. Bird back to the MPA,” said Nathalie Pilon, Chair of the Board of Directors of the MPA. “Building on sig- nificant achievements during his six years at the Port of Montreal, he is fully committed to con- tributing actively to the com- missioning of the Contrecœur terminal and to the continued development of new markets, for the benefit of Canada’s and Québec’s economic growth.” The markets referred to include Europe, the Mediterranean and Asia under a trade diversification strategy pursued by Canada’s Carney government to Paul Bird
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