Apr 02, 2024
Blue Wolf Capital is a middle market private equity firm that invests in buyouts, recapitalizations and growth capital opportunities. Since its founding in 2005, to date the firm has raised over $2.5 billion in capital and invested in 32 platforms with 57 follow-on investments in industrial and healthcare companies. Blue Wolf focuses on making control investments and works collaboratively to improve returns through its operational and strategic experience and the integration of environmental, social and governance factors in its investment analysis. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators with the goal of building value for stakeholders.
Team |
Managing Partner
and Chairman
Managing Partner
Partner
Partner
Seven sites across Sweden, France and Spain to form new CDMO platform
April 2, 2024 – NEW YORK – Blue Wolf Capital Partners LLC (“Blue Wolf”), a middle market private equity firm specializing in the healthcare and industrial sectors, announced today that it has committed, subject to regulatory clearances, to acquire seven manufacturing and development facilities: Solna, Stängnäs, Höganäs, Karlskoga and Uppsala OTC Development in Sweden, Pessac in France, and Parets in Spain, from Recipharm, a contract development and manufacturing organization (“CDMO”) headquartered in Stockholm.
The seven facilities have been a part of Recipharm for over a decade and have focused on the manufacturing and development of oral solid, semi-solid and liquid dosage form pharmaceutical products. The facilities serve over 120 customers around the world and have a strong track record of quality and regulatory compliance. Together these sites are to form a new independent CDMO platform with continued focus on pharmaceutical manufacturing operating under a new corporate name to be announced after the transaction closes.
“Blue Wolf is excited for the opportunity to build a new CDMO platform with these seven European assets serving as a cornerstone,” said Shashank Patel, Principal at Blue Wolf. “Partnering with the leadership and teams at these seven facilities, we look forward to continuing to deliver world-class manufacturing capabilities and development services to our partners in order to provide the highest quality pharmaceuticals to patients around the world.”
Greg Behar, CEO, Recipharm said: “We are delighted that Blue Wolf has committed to acquire seven of our OSD sites, marking a significant step for both organizations. I am confident that Blue Wolf will continue to elevate service excellence and bolster the organization for the benefit of customers and patients. By consolidating our site network, we are sharpening our focus on New Chemical Entities (NCEs), medium to high potency drugs, and on-patent medications within the oral solid dosage sector. This strategic divestment aligns with our overarching vision to emerge as the premier choice CDMO for both our customers and patients. I extend my best wishes to all our colleagues embarking on this new journey at those seven sites.”
Terms of the agreement were not disclosed. The transaction is expected to close in Q4 2024, subject to customary regulatory approvals.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors. The firm’s integrated team of investment professionals and veteran operating executives work collaboratively to generate returns by driving transformational change using operational and strategic experience. Blue Wolf seeks to invest in businesses that have catalysts for value creation that involve organizational transformation, complex union or human capital issues, significant government presence, or the opportunity to use ESG-informed strategies. For additional information, please visit www.bluewolfcapital.com.
About Recipharm
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing over 7,400 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, pharmaceutical product development and development and manufacturing of medical devices. Recipharm manufactures several hundred different products to customers ranging from big pharma to smaller research and development companies. The company operates development and manufacturing facilities in France, Germany, India, Israel, Italy, Portugal, Spain, Sweden, the UK and the US and is headquartered in Stockholm, Sweden.
For more information on Recipharm and our services, please visit www.recipharm.com
Contacts
Kate Spaziani
Director, Government Affairs and Communications, Blue Wolf Capital Partners
kate@bluewolfcapital.com
Sam Reinhardt
Vice President, Global Strategy Group
sreinhardt@globalstrategygroup.com
212-392-5270
Guenaelle Holloway
Head of Communication,
Guenaelle.Holloway@Recipharm.com
New hire marks firm’s second operating partner focused on human capital
NEW YORK, March 26, 2024 – Blue Wolf Capital Partners LLC (“Blue Wolf”), a middle market private equity firm specializing in the industrial and healthcare sectors, today announced that Samantha Dwinell has joined the firm as an operating partner focusing on human capital.
Ms. Dwinell will serve as an advisor for organizational and talent development, supporting Blue Wolf’s investment team on people-centric performance and growth strategies and counseling the firm’s diversified portfolio on areas such as leadership effectiveness, employee experience, and workforce planning.
“Sam is a recognized leader and a champion for high-performing workplaces,” said Jeremy Kogler, managing partner at Blue Wolf Capital. “We place great emphasis at Blue Wolf on fostering and growing talent within our firm and across our portfolio. Sam’s expertise will be a great resource to us, and we are excited she has joined our team.”
Ms. Dwinell is Blue Wolf’s second operating partner specializing in human capital, reinforcing the firm’s strategy of developing strong talent and culture in each of the companies with whom it partners. Prior to joining Blue Wolf, Ms. Dwinell served as Chief People Officer for Stream Realty Partners, a commercial real estate company, and for Sevita, a private equity-backed home and community-based healthcare provider. Before that, she spent nearly 20 years with Texas Instruments.
“Blue Wolf’s strong focus on talent, employee engagement, and development is a hallmark of their investment and growth strategy,” said Ms. Dwinell. “I look forward to working with Blue Wolf and partnering with management teams to ensure our portfolio companies are top destinations for employees.”
Ms. Dwinell graduated from Miami University with a B.A. in Economics and Sociology and received an M.A. from Benedictine University in Management and Organization Behavior as well as an M.H.R.I.R. from the University of Illinois at Urbana-Champaign in Human Resources and Industrial Relations. In 2023, she received OnCon’s Top 50 CHRO Award.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors. The firm’s integrated team of investment professionals and veteran operating executives work collaboratively to generate returns by driving transformational change using operational and strategic experience. Blue Wolf seeks to invest in businesses that have catalysts for value creation that involve organizational transformation, union or human capital issues, government presence, or the opportunity to use ESG-informed strategies. For additional information, please visit www.bluewolfcapital.com.
Contacts
Kate Spaziani
Director, Government Affairs and Communications, Blue Wolf Capital Partners
kate@bluewolfcapital.com
Sam Reinhardt
Vice President, Global Strategy Group
sreinhardt@globalstrategygroup.com
212-392-5270
New addition broadens firm’s expertise in the healthcare sector
NEW YORK, March 11, 2024 – Blue Wolf Capital Partners LLC (“Blue Wolf”), a middle market private equity firm specializing in the industrial and healthcare sectors, today announced that David Hecht will be joining the firm as an operating partner specializing in healthcare investments. He most recently served as the chief financial officer and chief strategy officer at RHA Health Services (“RHA”), a leading healthcare services provider to individuals with intellectual and developmental disabilities and those with mental health challenges.
Mr. Hecht joins a roster of respected, seasoned operating partners at Blue Wolf who have deep experience in the healthcare and industrial sectors. In his new role, Mr. Hecht will advise the firm on new healthcare investments and provide strategic and operational counsel to Blue Wolf’s portfolio companies operating in the healthcare sector.
“David was a transformative member of the management team at RHA and will bring strategic thinking and creative problem-solving to his new role,” said Jeremy Kogler, Managing Partner at Blue Wolf Capital. “At Blue Wolf, we remain focused on building our outstanding, integrated team of veteran operating partners and investment professionals. The addition of a proven leader like David reflects our commitment to ensuring we have the operational expertise and sector knowledge necessary to navigate even the most complex issues affecting the industries in which we invest.”
“I am excited to join the talented team at Blue Wolf. Having worked closely with Blue Wolf for nearly five years, I have seen their ability to identify differentiated investments and to create value in their portfolio companies through operational excellence,” said Mr. Hecht. “The healthcare sector presents a wide range of opportunities to invest in businesses that improve health outcomes, deliver a better patient experience, and employ and grow a critical workforce. In pursuit of these goals, I look forward to collaborating with Blue Wolf’s investment team and portfolio company management in my new role.”
Prior to joining Blue Wolf, Mr. Hecht spent seven years at RHA Health Services. During his time there, Mr. Hecht led the company’s finance and capital markets function and helped drive the company’s expansion into multiple new markets, both through acquisition and organic growth. Prior to RHA, Mr. Hecht served as a senior vice president at Formation Capital, a vice president at Healthpro Heritage, and a management consultant at Oliver Wyman, among other roles.
Mr. Hecht graduated from Princeton University with an A.B. in Politics and received an M.B.A. from the Wharton School at the University of Pennsylvania with a concentration in Healthcare Management.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors. The firm’s integrated team of investment professionals and veteran operating executives work collaboratively to generate returns by driving transformational change using operational and strategic experience. Blue Wolf seeks to invest in businesses that have catalysts for value creation that involve organizational transformation, union or human capital issues, government presence, or the opportunity to use ESG-informed strategies. For additional information, please visit www.bluewolfcapital.com.
Contacts
Kate Spaziani
Director, Government Affairs and Communications, Blue Wolf Capital Partners
kate@bluewolfcapital.com
Sam Reinhardt
Vice President, Global Strategy Group
sreinhardt@globalstrategygroup.com
212-392-5270
Sean Pierce Named Chief Executive Officer
Transaction represents significant investment in North American marine and environmental sectors
January 9, 2024 – NEW YORK – Blue Wolf Capital Partners LLC (“Blue Wolf”), a middle market private equity firm specializing in the industrial and healthcare sectors, has completed its acquisition of Montreal-based LOGISTEC Corporation (“LOGISTEC” or “the company”).
As announced on October 16, 2023, Blue Wolf partnered with Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, to execute the approximately C$1.2 billion transaction. This transaction builds on Blue Wolf’s track record of successful investments in the industrial sector and demonstrates a commitment to North American industry.
“LOGISTEC has a well-earned reputation for operational excellence providing marine and environmental services across critical infrastructure and industrial markets,” said Bennet Grill, Partner at Blue Wolf and incoming Chairman at LOGISTEC. “We are excited to support LOGISTEC’s exceptional team providing safe, sustainable and creative solutions for their customers and invest in the company’s next phase of growth.”
Since its founding more than 70 years ago, LOGISTEC has expanded into a diversified corporation offering a range of marine and environmental services in the North American market. It currently operates in 60 ports and 90 terminals across the continent. Following this transaction, LOGISTEC’s headquarters will remain in Montreal.
“The closing of this transaction marks an exciting milestone in LOGISTEC’s trajectory,” said James Wyper, Senior Managing Director at Stonepeak. “We look forward to supporting LOGISTEC in partnership with Blue Wolf as the company continues to grow and provide specialized services to its diversified global customer base through its terminal operations.”
Sean Pierce Named Chief Executive Officer
Sean Pierce has been named chief executive officer (CEO) of LOGISTEC. Mr. Pierce brings a wealth of global industry expertise and strategic leadership that will further accelerate LOGISTEC’s growth and expansion. He will replace Madeleine Paquin, who announced today that she has stepped down from the role.
“Being asked to lead LOGISTEC is a great honor,” said Sean Pierce, CEO of LOGISTEC. “I am excited to join an organization with a strong dedication to its customers, employees and the communities in which we operate. I look forward to continuing this legacy and working with the entire team to lead the company to even greater things in the future.”
With over 35 years of experience in the marine sector, Mr. Pierce has held various senior executive roles and has a proven track record of driving organizational success. His deep understanding of the industry and commitment to innovation will be instrumental in leading LOGISTEC into its next phase of development, while continuing to contribute to the Quebec and Canadian economies.
“I am delighted to welcome Sean Pierce as LOGISTEC’s new CEO. His extensive experience and visionary direction will strengthen the company’s position as a critical provider of logistics and environmental solutions,” added Mr. Grill. “I also would like to recognize Madeleine Paquin for her outstanding leadership over the past three decades. Her dedication and contributions have made LOGISTEC a great company, and we look forward to building on her legacy.”
In connection with the acquisition, a new board of LOGISTEC also has been constituted, with representatives from Blue Wolf and Stonepeak joined by Jean-Jacques Ruest, former CEO of Canadian National Railway, and Michael Moore, former CEO of Global Container Terminals.
TD Securities Inc. acted as exclusive financial advisor to LOGISTEC and Blair Franklin Capital Partners Inc. acted as independent financial advisor to the company’s Special Committee. Rothschild & Co acted as exclusive financial advisor to Blue Wolf. Stikeman Elliott LLP acted as independent legal advisor to LOGISTEC’s Special Committee and Fasken Martineau DuMoulin LLP and K&L Gates LLP served as legal advisors to LOGISTEC. McCarthy Tétrault LLP and Willkie Farr & Gallagher LLP acted as legal advisors to Blue Wolf.
About LOGISTEC Corporation
LOGISTEC Corporation is based in Montréal (QC) and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 60 ports and 90 terminals located in North America. LOGISTEC also offers marine transportation services geared primarily to the Arctic coastal trade as well as marine agency services to shipowners and operators serving the Canadian market. Furthermore, the Corporation operates in the environmental industry where it provides services to industrial, municipal, and other governmental customers for the renewal of underground water mains, dredging, dewatering, contaminated soils and materials management, site remediation, risk assessment, and manufacturing of fluid transportation products.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors. The firm’s integrated team of investment professionals and veteran operating executives work collaboratively to generate returns by driving transformational change using operational and strategic experience. Blue Wolf seeks to invest in businesses that have catalysts for value creation that involve organizational transformation, complex union or human capital issues, significant government presence, or the opportunity to use ESG-informed strategies. For additional information, please visit www.bluewolfcapital.com.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.9 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.
Media Contacts
Marie-Chantal Savoy
Vice President, Strategy and Communications
LOGISTEC Corporation
msavoy@logistec.com
Kate Spaziani
Director, Government Affairs and Communications
Blue Wolf Capital
kate@bluewolfcapital.com
Kate Beers/Maya Brounstein
Communications
Stonepeak
corporatecomms@stonepeak.com
January 4, 2024 – NEW YORK – – Blue Wolf Capital Partners LLC (“Blue Wolf” or “the firm”), a middle market private equity firm specializing in the healthcare and industrial sectors, today announced a number of promotions across the firm.
“I am delighted to share several well-earned promotions that recognize hard work and contributions in support of our firm,” said Jeremy Kogler, Managing Partner at Blue Wolf Capital. “The quality of our team at Blue Wolf is unparalleled, and we are proud of the unique contributions each of these individuals brings to our success.”
Bennet Grill Named Partner
Bennet Grill has been named Partner. Previously a Principal, Mr. Grill first joined Blue Wolf as an Associate in 2012 from the Mergers & Acquisitions group at Citi and rejoined the firm as a Vice President in 2017.
“Since joining Blue Wolf, Bennet has earned a reputation as a skilled investment professional who consistently creates value for our portfolio companies and investors,” added Mr. Kogler. “He is a reflection of both our culture and investment expertise and I look forward to his expanded leadership role and continued contributions to Blue Wolf’s growth.”
In addition to chairing Blue Wolf’s ESG Committee, Mr. Grill has been instrumental in some of the firm’s largest transactions in both its industrials and healthcare practices. He currently serves on the Board of Directors of Twin Rivers Paper Company, The State Group, Fox Rehabilitation and RHA Health Services.
“Blue Wolf has provided me with immense opportunities to grow professionally and become involved in great companies supporting the backbone of the economy,” said Mr. Grill. “It’s a privilege to work with such a passionate team that cares so deeply about supporting our portfolio companies for their long-term success. I look forward to what we’ll be able to achieve together in the future.”
Additional Promotions
In addition to Mr. Grill, Blue Wolf announced several other promotions, including:
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors. The firm’s integrated team of investment professionals and veteran operating executives work collaboratively to generate returns by driving transformational change using operational and strategic experience. Blue Wolf seeks to invest in businesses that have catalysts for value creation that involve organizational transformation, complex union or human capital issues, significant government presence, or the opportunity to use ESG-informed strategies. For additional information, please visit www.bluewolfcapital.com.
Kate Spaziani
Director, Government Affairs and Communications, Blue Wolf Capital Partners
kate@bluewolfcapital.com
Sam Reinhardt
Vice President, Global Strategy Group
sreinhardt@globalstrategygroup.com
212-392-5270
LOGISTEC shareholders to receive $67.00 in cash per share pursuant to the transaction
Blue Wolf to Maintain Head Office in Québec With Significant Investment for Future Growth Initiatives
Montréal, Québec, October 16, 2023 – LOGISTEC Corporation (TSX: LGT.A LGT.B) (“LOGISTEC” or the “Corporation”) today announced that it has entered into an arrangement agreement (the “Arrangement Agreement”) with 1443373 B.C. Unlimited Liability Company (the “Purchaser”), an entity owned by certain funds managed by Blue Wolf Capital Partners LLC (“Blue Wolf”) in partnership with Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, pursuant to which the Purchaser will acquire all the issued and outstanding shares of the Corporation for $67.00 in cash per share, representing a total enterprise value of approximately $1.2 billion, subject to customary closing conditions.
The Arrangement Agreement is the culmination of an extensive and robust review of strategic alternatives available to maximize shareholder value that was conducted by a Special Committee of independent directors of the Corporation at the request of its principal shareholder, Sumanic Investments Inc.
The consideration offered under the transaction represents a 61.2% premium to the unaffected 20‑day volume-weighted average trading price per Class A Common Share and a 62.2% premium to the unaffected 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on May 19, 2023, the last trading day prior to the announcement of the strategic review process, and a 14.5% premium to the 20-day volume-weighted average trading price per Class A Common Share and a 9.9% premium to the 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on October 13, 2023.
“Since my father started this business more than 70 years ago, we have grown into industry leaders,” said Madeleine Paquin, President and Chief Executive Officer of LOGISTEC. “As we enter this next phase of our journey, we will continue to build a sustainable future by facilitating trade, handling our customers’ goods safely, and protecting our environment as well as our water resources for the next generation. We see significant opportunity to collaborate with Blue Wolf to drive value creation for our people, our customers, and our communities while rewarding our existing shareholders with an attractive cash consideration providing immediate and fair value for their shares.”
“After a comprehensive and rigorous strategic review process, we are pleased to have agreed terms on a transaction with Blue Wolf that has the full support of LOGISTEC’s Board of Directors and Special Committee,” said J. Mark Rodger, LOGISTEC’s Chairman of the Board of Directors and of its Special Committee. “After careful deliberation, the Special Committee and the Board of Directors have unanimously concluded that the transaction is fair to LOGISTEC’s shareholders and is in the best interests of LOGISTEC and its employees and other stakeholders.”
Logistec will Remain a Quebec Based Business with Significant Blue Wolf Investment
“Blue Wolf is excited to enter the Québec market with this acquisition, which represents excellent prospects for continued growth for both of the Corporation’s business segments and throughout North America,” said Bennet Grill, Principal at Blue Wolf. Natalie Marjancik, Partner at Blue Wolf, added, “We are committed to maintaining LOGISTEC’s core values of quality and innovative services, respect for people and the environment. We look forward to continued growth and working alongside the current management teams in place in Québec and elsewhere.”
Blue Wolf’s business plan is anchored in making significant contributions to the business and to the Québec and Canadian economy, including:
Other Investment Partners
Blue Wolf is funding its portion of the purchase price with capital it manages on behalf of its limited partners via private equity fund capital as well as select co-investors, together with an additional preferred investment in the Purchaser by Stonepeak.
“The specialized services LOGISTEC provides through its terminal operations to a diversified global customer base make it a quality infrastructure asset,” said James Wyper, Senior Managing Director at Stonepeak. “Between its Marine Services and Environmental Services business, which is focused on rehabilitating aging water infrastructure and remediating soil, we believe in the compelling opportunities for growth and in the future success of LOGISTEC. We are excited to support the Corporation, in partnership with Blue Wolf, in its next chapter.”
The gouvernement du Québec through Investissement Québec is in discussion with Blue Wolf for a potential investment in the Corporation,” said Guy LeBlanc, President and CEO of Investissement Québec (“IQ“). “IQ’s potential participation in the Corporation will support Blue Wolf’s commitment to maintain LOGISTEC’s headquarters and operations in Québec and to continue to make investments in Québec. We would like to thank and congratulate the Paquin Family for having built a sector champion solidly anchored in Québec.”
LOGISTEC Board Recommendation
LOGISTEC’s Board of Directors has evaluated the Arrangement Agreement with the Corporation’s management and legal and financial advisors, and following the receipt and review of the unanimous recommendation of the Special Committee, the Board of Directors has unanimously determined that the transaction is in the best interests of LOGISTEC and is fair to its shareholders, and unanimously recommends that LOGISTEC’s shareholders approve the transaction.
Each of TD Securities Inc., as exclusive financial advisor to the Corporation, and Blair Franklin Capital Partners Inc., as independent financial advisor to the Special Committee, has provided a fairness opinion to the Board of Directors and the Special Committee, respectively, to the effect that, as of the date thereof, and based upon and subject to the assumptions, limitations and qualifications stated therein, the consideration to be received by LOGISTEC shareholders under the transaction is fair, from a financial point of view, to such shareholders.
Transaction Details
The transaction will be implemented by way of a plan of arrangement under the Business Corporations Act (Québec) and is expected to close in the first quarter of 2024, subject to customary closing conditions, including the receipt of regulatory approvals and clearances in Canada and the United States, LOGISTEC shareholder approval and Court approval. The transaction is not subject to any financing condition.
Required LOGISTEC shareholder approval for the transaction will consist of at least 66⅔% of the votes cast on the transaction by holders of Class A Common Shares and Class B Subordinate Voting Shares voting together as a single class at a special meeting of LOGISTEC shareholders. Concurrently with the execution of the Arrangement Agreement, the Purchaser has entered into a voting support agreement with Sumanic Investments Inc., holding Class A Common Shares and Class B Subordinate Voting Shares representing approximately 77% of the voting rights attached to the issued and outstanding shares of the Corporation, and voting support agreements with each of the directors and executive officers who own shares of the Corporation, pursuant to which they have agreed to vote all shares held by them in favour of the transaction, subject to customary exceptions.
The Arrangement Agreement contains non-solicitation covenants on the part of the Corporation, subject to the customary “fiduciary out” provisions. A termination fee of $32 million would be payable by the Corporation to the Purchaser in certain circumstances, including in the context of a superior proposal supported by the Corporation. The Corporation would also be entitled to a reverse termination fee of $59 million if the transaction is not completed in certain circumstances.
Following completion of the transaction, the Corporation will become a privately held company and will apply to cease to be a reporting issuer under Canadian securities laws and the Class A Common Shares and Class B Subordinate Voting Shares will no longer be publicly traded on the Toronto Stock Exchange.
Additional information regarding the transaction will be included in an information circular that LOGISTEC will prepare, file and mail to LOGISTEC shareholders in advance of the special meeting to be held to consider and approve the transaction. Copies of the Arrangement Agreement and the information circular will be available under the Corporation’s profile on SEDAR+ on www.sedarplus.ca.
Advisors
TD Securities Inc. is acting as exclusive financial advisor to the Corporation and Blair Franklin Capital Partners Inc. is acting as independent financial advisor to the Special Committee. Rothschild & Co is acting as exclusive financial advisor to Blue Wolf. Stikeman Elliott LLP is acting as independent legal advisor to the Special Committee and Fasken Martineau DuMoulin LLP and K&L Gates LLP as legal advisors to the Corporation. McCarthy Tétrault LLP and Willkie Farr & Gallagher LLP are acting as legal advisors to Blue Wolf. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Sumanic Investments Inc.
About LOGISTEC Corporation
LOGISTEC Corporation is based in Montréal (QC) and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 60 ports and 90 terminals located in North America. LOGISTEC also offers marine transportation services geared primarily to the Arctic coastal trade as well as marine agency services to shipowners and operators serving the Canadian market. Furthermore, the Corporation operates in the environmental industry where it provides services to industrial, municipal, and other governmental customers for the renewal of underground water mains, dredging, dewatering, contaminated soils and materials management, site remediation, risk assessment, and manufacturing of fluid transportation products.
The Corporation has been profitable and has paid regular dividends since becoming public and payments have grown steadily over the years. A public company since 1969, LOGISTEC’s shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B. More information can be obtained on the Corporation’s website at www.logistec.com.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors. The firm’s integrated team of investment professionals and veteran operating executives work collaboratively to generate returns by driving transformational change using operational and strategic experience. Blue Wolf seeks to invest in businesses that have catalysts for value creation that involve organizational transformation, complex union or human capital issues, significant government presence, or the opportunity to use ESG-informed strategies. For additional information, please visit www.bluewolfcapital.com.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.
Early Warning Disclosure
As at the date hereof, Sumanic Investments Inc. (“Sumanic”) owns 5,802,578 Class A Common Shares and 6,600 Class B Subordinate Voting Shares, representing approximately 45% of the issued and outstanding shares of LOGISTEC and 77% of the outstanding votes of LOGISTEC, and currently files early warning reports pursuant to the requirements of Regulation 62-104 respecting Take-Over Bids and lssuer Bids and Regulation 62-103 respecting the Early Warning System and Related Take-Over Bid and lnsider Reporting Issues with respect to LOGISTEC. An amended early warning report, stating that Sumanic has entered into a support and voting agreement with the Purchaser pursuant to which it has agreed to vote, at the special meeting of the shareholders of LOGISTEC, in favour of the arrangement contemplated by the Arrangement Agreement will be filed with the applicable securities commissions and will be made available on SEDAR+ at www.sedarplus.ca. Further information, including a copy of the early warning report may be obtained by contacting Madeleine Paquin, director of Sumanic at 514-237-2949 and Nicole Paquin, director of Sumanic, at 514-212-2325.
Forward-Looking Statements
This press release contains forward-looking information, within the meaning of applicable securities legislation, including statements relating to the anticipated benefits of the transaction for the Corporation and its stakeholders, regulatory, shareholder and Court approvals and the anticipated timing of completion of the transaction. These forward-looking statements express, as of the date of this press release, the estimates, predictions, projections, expectations, or opinions of the Corporation about future events or results, including the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, shareholder and Court approvals, the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the transaction and the completion of the transaction on expected terms, the impact of the transaction and the dedication of substantial resources from the Corporation to pursuing the transaction on the Corporation’s ability to maintain its current business relationships and its current and future operations, financial condition and prospects and statements relating to IQ’s potential participation in the transaction and any potential related undertakings in connection therewith. Although the Corporation believes that the expectations produced by these forward-looking statements are founded on valid and reasonable bases and assumptions, these forward-looking statements are inherently subject to important uncertainties and contingencies, many of which are beyond the Corporation’s control, such that the Corporation’s performance may differ significantly from the predicted performance expressed or presented in such forward-looking statements. The important risks and uncertainties that may cause the actual results and future events to differ significantly from the expectations currently expressed include the possibility that the transaction will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required regulatory, shareholder and Court approvals and other conditions to the closing of the transaction or for other reasons; the failure to complete the transaction which could negatively impact the price of the shares or otherwise affect the business of the Corporation; the dedication of significant resources to pursuing the transaction and the restrictions imposed on the Corporation while the transaction is pending; the uncertainty surrounding the transaction that could adversely affect the Corporation’s retention of customers and business partners; the occurrence of a material adverse effect leading to the termination of the Arrangement Agreement, as well as the additional risks and uncertainties examined under business risks in the Corporation’s 2022 annual report. The transaction contemplated in this press release is not contingent on IQ’s participation in the transaction. The reader of this press release is thus cautioned not to place undue reliance on these forward-looking statements. The Corporation undertakes no obligation to update or revise these forward-looking statements, except as required by law.
For further information:
Investors
Carl Delisle, CPA auditor
Chief Financial Officer and Treasurer
LOGISTEC Corporation
cdelisle@logistec.com
(514) 985-2390
Media
Marie-Chantal Savoy
Vice-President, Strategy and Communications
LOGISTEC Corporation
Phone: (514) 985-2337
msavoy@logistec.com
For Enquiries about Blue Wolf
Anna Fernandes
Ryan Public Affairs & Communications
anna@ryanap.com
(514) 973-6016
For Enquiries about Stonepeak
Kate Beers / Maya Brounstein
Communications
corporatecomms@stonepeak.com
+1 (212) 907-5100
Stephen Madsen to grow Blue Wolf’s business development function and generate new investment opportunities
September 20, 2023 – NEW YORK – Blue Wolf Capital Partners LLC (“Blue Wolf”), a middle market private equity firm specializing in the healthcare and industrial sectors, announced today the hiring of Stephen Madsen, who will lead the firm’s business development team as Managing Director.
Mr. Madsen will be responsible for identifying unique investment opportunities, coordinating with the senior investment team to source high-potential deals and managing the intermediary selection process for portfolio company transactions. He will generate and oversee new partnerships in a wide range of industries through Blue Wolf’s diverse executive networks.
“Stephen will greatly enhance our business development efforts and deal pipeline,” said Jeremy Kogler, Managing Partner at Blue Wolf. “His extensive background in driving growth for private equity firms in various capacities will help expand our investment portfolio and reinforce the strong partnerships we forge both with our investors and sponsored companies.”
Prior to joining Blue Wolf, Mr. Madsen led the business development function at Monomoy Capital with a focus on sourcing new investment opportunities from intermediaries, family owners and corporations. Before that, he worked at Intralinks Dealnexus, an online deal sourcing and marketing platform, where he was Manager of Global Business Development & Origination. He began his career in primary investment research at Coleman Research Group and later Gerson Lehrman Group.
“Blue Wolf has an unmatched level of creativity and intelligence behind its investment capabilities,” said Mr. Madsen. “Very few firms are capable of completing transactions in as wide of a range as Blue Wolf, let alone doing so at such a high level of success.”
Mr. Madsen is a member of the PE/IB Committee for ACG New York and graduated from Columbia University in 2008 with bachelor’s degrees in both History and Italian.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors. The firm’s integrated team of investment professionals and veteran operating executives work collaboratively to generate returns by driving transformational change using operational and strategic experience. Blue Wolf seeks to invest in businesses that have catalysts for value creation that involve organizational transformation, complex union or human capital issues, significant government presence, financial or operational distress, or the opportunity to use ESG-informed strategies. For additional information, please visit www.bluewolfcapital.com..
Media Contacts
Kate Spaziani
Director, Government Affairs and Communications, Blue Wolf Capital Partners
kate@bluewolfcapital.com
Sam Reinhardt
Vice President, Global Strategy Group
sreinhardt@globalstrategygroup.com
212-392-5270
June 08, 2023 – MONETTE, Ark. – Blue Wolf Capital Partners, LLC (“Blue Wolf”) announced today its commitment to support the community of Monette, Arkansas, with a donation of $27,000 to the City of Monette Community Relief Fund. On Friday, December 10, 2021, Monette was struck by a devastating EF4 tornado. The community created the fund to help with immediate support and improved community safety.
The donation from Blue Wolf will be used to support the installation and maintenance of storm shelters in the area, helping to keep the community safe in the event of future natural disasters. This funding comes at a critical time, as Monette and the surrounding areas continue to recover from the storm’s impact.
“Blue Wolf is honored to support the people of Monette in their ongoing efforts to rebuild and recover from the tornado,” said Jeremy Kogler, managing partner at Blue Wolf. “We believe in giving back to the communities where we live and work, and we are proud to support the City of Monette Community Relief Fund in their efforts to provide vital resources to those in need.”
The City of Monette Community Relief Fund has been instrumental in providing support and resources to local residents and businesses affected by the storm, and Blue Wolf’s donation will help to ensure that the community has the resources it needs to protect its citizens if another storm comes.
“I would like to extend our most sincere and heartfelt gratitude to Blue Wolf Capital Partners for their generous donation of $27,000 to assist with the costs of installing new storm shelters within our city limits. Our hometown and our citizens were changed forever on December 10, 2021,” said the city of Monette Mayor Bob Blankenship. “Homes and businesses were destroyed, and lives were lost. Recovery has been a long and difficult road for us all. We have been immensely blessed with many helpers along the way. This monetary donation from Blue Wolf Capital Partners will ensure that all of our residents will have a nearby safe place to go in the event of another destructive storm. We thank you for your generosity and continued commitment to our hometown.”
Blue Wolf acquired Colson Group in February 2021, including its manufacturing facility in Jonesboro, Arkansas. In 2022, Colson built a new, 135,000 square foot facility on a 25-acre site located in Northeast Arkansas’s newest industrial park. Colson has 170 employees at its Jonesboro and Monette locations. Blue Wolf’s investments in Arkansas also include Caddo River Forests Products, Twin Rivers Paper Company, Conifex, and Carthage Forest Products.
About Blue Wolf Capital Partners
Blue Wolf is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors. The firm’s integrated team of investment professionals and veteran operating executives work collaboratively to generate returns by driving transformational change using operational and strategic experience. Blue Wolf seeks to invest in businesses that have catalysts for value creation that involve organizational transformation, complex union or human capital issues, significant government or regulatory presence, financial or operational distress or the opportunity to use ESG-informed strategies.
For more information on Blue Wolf, visit their website at www.bluewolfcapital.com.
Contacts
Kate Spaziani
kate@bluewolfcapital.com
February 08, 2023 – NEW YORK – Blue Wolf Capital Partners (“Blue Wolf”), a New York-based private equity firm, announced today that it has acquired Sterling Site Access Solutions (“Sterling” or the “Company”), a leading, vertically-integrated provider of temporary ground protection and site access services.
Founded in 1949, Sterling is one of the largest providers of mission critical site access solutions in North America. The Company offers a comprehensive suite of products and services including site planning and design, mat rentals and sales, site preparation, mat installation, and final mat removal and site restoration. Sterling operates through two manufacturing facilities in Phoenix, Illinois and Lufkin, Texas, as well as distribution yards across the U.S. Midwest, South and Northeast. The Company serves blue-chip customers in the power transmission and distribution, civil infrastructure, and energy sectors.
“As a leader in the growing market for site access solutions, Sterling has earned a reputation for quality and reliability,” said Aakash Patel, Partner at Blue Wolf Capital. “With its turnkey products and services and industry-leading production capacity, the Company is uniquely positioned to support critical infrastructure projects across North America. We are very excited to partner with Sterling to expand upon the Company’s capabilities and accelerate growth over the next several years.”
“We are pleased to be partnering with Blue Wolf to build on Sterling’s long history of innovative solutions and outstanding customer service,” said Carter Sterling, CEO of Sterling. “Since my family started this business more than 70 years ago, we have grown into an industry leader that provides safe, efficient, environmentally friendly jobsite solutions to our customers. As we enter this next phase of our journey, Sterling will benefit from Blue Wolf’s deep bench of investment and operating professionals and significant industry experience.”
“Sterling is a great fit for Blue Wolf’s portfolio,” said James Shovlin, Principal at Blue Wolf Capital. “Through our industrial sector expertise, we have a deep understanding of Sterling’s supply chain and end markets. We see a significant opportunity to collaborate with Carter and the Sterling leadership team to drive value creation through commercial and operational enhancements.”
Terms of the transaction were not disclosed.
About Sterling Site Access Solutions
Sterling is a leading North American site access contractor providing ground protection products and turnkey access solutions, including site planning & design, mat rentals & sales, site preparation, mat installation, and final mat removal & site restoration. Sterling serves a blue-chip customer base, including asset owners and general contractors in the power transmission & distribution, civil infrastructure, and energy end markets, helping them protect the environment and ensure workers’ safety on their jobsites. Sterling is committed to engineering innovative new products and services for the North American ground protection industry. For additional information, please visit Sterling’s website at https://www.sterlingsolutions.com/.
About Blue Wolf Capital
Blue Wolf Capital is a private equity firm that invests in buyouts, recapitalizations, and growth capital opportunities in middle market companies. The firm focuses on making control investments and works collaboratively to generate returns through operational and strategic experience. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators with the goal of building value for stakeholders. For additional information, please visit www.bluewolfcapital.com.
Contacts
Kate Spaziani
kate@bluewolfcapital.com
Joele Frank, Wilkinson Brimmer Katcher
Steve Frankel / Ed Trissel / Arielle Rothstein
212.355.4449
January 03, 2023 – NEW YORK – Blue Wolf Capital Partners LLC (“Blue Wolf”), a New York-based private equity firm, today named Natalie Marjancik as a Partner of the firm, announced the promotions of James Shovlin to Principal and David Meyers and Jordan Fong to Senior Associate and expanded Kate Spaziani’s role to Director of Government Affairs and Communications.
“We are delighted to welcome Natalie as our newest Partner and to recognize the significant value she brings to the firm and its portfolio companies,” said Jeremy Kogler, Managing Partner at Blue Wolf. “We also are pleased to extend well-deserved promotions and role expansions to four team members, James, Kate, David and Jordan. Over the past year, thanks to our team’s collective experience, market knowledge and core competencies, Blue Wolf has successfully navigated a challenging global environment. We are proud of our performance and look forward to continued success.”
“I am honored to take on this expanded role and join Blue Wolf’s talented, long-standing group of partners,” said Ms. Marjancik. “Since first becoming acquainted with Blue Wolf nearly a decade ago, I’ve been impressed by the depth and investment discipline of the team, and I look forward to continue building on the firm’s proven track record of investment and operational excellence.”
Ms. Marjancik joined Blue Wolf in March 2022 as Managing Director, Capital Markets, bringing significant expertise in complex, multi-dimensional financing strategies. Prior to joining Blue Wolf, Ms. Marjancik spent almost 13 years at Lincoln International focusing on capital and debt advisory. During her time there, Ms. Marjancik served as a key advisor to corporate and private equity clients, including Blue Wolf, on the structuring and arranging of debt financings across multiple sectors, including, among others, industrials, consumer, business services and healthcare. She also assessed and rendered opinions on companies’ debt capacities and various corporate transactional matters, including financing terms and structures available to borrowers. Prior to that, Ms. Marjancik practiced corporate law at Shearman & Sterling LLP, where she advised on domestic and cross-border capital raising transactions, mergers, acquisitions, divestitures and joint ventures.
Ms. Marjancik received a B.S. with honors from Purdue University, a M.B.A. with honors from the Booth School of Business at the University of Chicago and a J.D., magna cum laude, from Boston University School of Law.
Mr. Shovlin joined Blue Wolf in 2015 and most recently served as Vice President. Currently, he serves on the Board of Directors of Blue Wolf portfolio companies C&C Forest Products, The State Group, Vicksburg Forest Products, and Welch & Rushe. Prior to joining the firm, Mr. Shovlin was an Analyst in the Restructuring group at Guggenheim Securities. He received a B.S. in Economics with concentrations in Accounting and Finance from the Wharton School at the University of Pennsylvania.
Ms. Spaziani joined Blue Wolf in 2021 as Director of Government Affairs. Prior to joining the firm, she spent more than seven years at the NewYork-Presbyterian hospital system, serving as Vice President of Communications, External Affairs, and Federal Relations, and worked in both the US House and Senate as a senior staff member. Ms. Spaziani received a B.A., magna cum laude, from Duke University and a J.D., cum laude, from Georgetown University Law Center.
Mr. Meyers joined Blue Wolf in 2020 and most recently served as an Associate. Previously he was an Analyst in the Restructuring group at Perella Weinberg Partners. Mr. Meyers received a Bachelor of Commerce with First Class Honors in Investment Management from McGill University.
Mr. Fong joined Blue Wolf in 2021 and most recently served as an Associate. Prior to joining the firm, he was an Analyst in the Industrials Mergers & Acquisitions investment banking group at Rothschild & Co. Mr. Fong received a B.A. in Economics from Hamilton College.
About Blue Wolf Capital Partners
Blue Wolf Capital is a private equity firm that invests in buyouts, recapitalizations, and growth capital opportunities in middle market companies. The firm focuses on making control investments and works collaboratively to generate returns through operational and strategic experience. Blue Wolf manages challenging situations and complex relationships between business, customers, employees, unions, and regulators with the goal of building value for stakeholders. For additional information, please visit www.bluewolfcapital.com.
Contacts
Kate Spaziani
kate@bluewolfcapital.com
Joele Frank, Wilkinson Brimmer Katcher
Steve Frankel / Ed Trissel / Arielle Rothstein
212.355.4449