M&A Deal Summary

Canadian Pacific Railway Acquires Detroit River Tunnel

On October 16, 2020, Canadian Pacific Railway Ltd. acquired infrastructure company Detroit River Tunnel Co. from OMERS Infrastructure for 312M USD

Acquisition Highlights
  • This is Canadian Pacific Railway’s 1st transaction in the Infrastructure sector.
  • This is Canadian Pacific Railway’s 2nd largest (disclosed) transaction.
  • This is Canadian Pacific Railway’s 3rd transaction in the United States.
  • This is Canadian Pacific Railway’s 1st transaction in Michigan.

M&A Deal Summary

Date 2020-10-16
Target Detroit River Tunnel Co.
Sector Infrastructure
Buyer(s) Canadian Pacific Railway Ltd.
Sellers(s) OMERS Infrastructure
Deal Type Add-on Acquisition
Deal Value 312M USD

Target

Detroit River Tunnel Co.

Detroit, Michigan, United States
Detroit River Tunnel Co. owns a cross-border rail tunnel linking Detroit, Michigan, and southwestern Ontario - a vital transportation link for commercial freight between the United States and Canada in the critical transportation corridor between the Port of Montreal and Chicago.

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Buyer(S) 1

Buyer

Canadian Pacific Railway Ltd.

Calgary, Alberta, Canada

website


Category Company
Founded 1881
SectorTransportation
Employees12,398
Revenue 7.7B CAD (2020)
DESCRIPTION

CP provides logistics and supply chain expertise. CP was founded in 1881 and is based in Calgary, Canada.


DEAL STATS #
Overall 4 of 5
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Michigan) 1 of 1
Country (United States) 3 of 4
Year (2020) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 Central Maine & Quebec Railway

Bangor, Maine, United States

Central Maine & Quebec Railway owns 481 miles (774 kilometers) of rail lines primarily in Quebec and Maine. The end-to-end transaction will provide CP customers with seamless, safe and efficient access to ports at Searsport, Maine and to Saint John, New Brunswick, via Eastern Maine Railway Company (EMRY) and New Brunswick Southern Railway (NBSR), thereby preserving and enhancing competition.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-15 Kansas City Southern

Kansas City, Missouri, United States

Kansas City Southern is a transportation holding company that has railroad investments in the U.S., Mexico, and Panama. Its primary US holding is The Kansas City Southern Railway Company, serving the central and south-central US. Kansas City Southern was formed in 1887 and is based in Kansas City, Missouri.

Buy $27.0B

Seller(S) 1

SELLER

OMERS Infrastructure

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Infrastructure
Founded 1990
SizeMega
Type Sector Focused
DESCRIPTION

OMERS Infrastructure is the infrastructure investment arm of Canadian pension plan OMERS. OMERS targets 'large-scale' infrastructure investments valued in excess of $1 billion where the firm can commit at least $200 million of equity capital. Prospective opportunities generally possess significant governmental or regulatory barriers to entry, as well as stable cash-flows linked to long-term contracts. Specific areas of interest include energy (generation, transmission and distribution networks), transportation (transportation gateways, rail corridors, ports and airports), institutional facilities (hospitals, long-term care facilities and schools), and government-regulated services (laboratory diagnostic services, satellite and other communications networks and land registry services). OMERS was formed in 1990 and is based in Toronto.


DEAL STATS #
Overall 4 of 5
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Michigan) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-10 Deutsche Glasfaser Holding GmbH

Borken, Germany

Deutsche Glasfaser is a provider of fiber-optic internet connectivity for private households and business customers in rural Germany. Deutsche Glasfaser was founded in 2011 and is based in Borken, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Azure Power Global Ltd.

New Delhi, India

Azure Power Global provides solar energy to central and state government utilities and independent industrial and commercial customers. Azure Power Global was founded in 2008 and is based in New Delhi, India.

Buy -