M&A Deal Summary

CP Acquires Dakota Minnesota & Eastern Railroad

On October 4, 2007, CP acquired transportation company Dakota Minnesota & Eastern Railroad from Lombard Investments

Acquisition Highlights
  • This is CP’s 1st transaction in the Transportation sector.
  • This is CP’s 1st transaction in the United States.
  • This is CP’s 1st transaction in South Dakota.

M&A Deal Summary
Date 2007-10-04
Target Dakota Minnesota & Eastern Railroad
Sector Transportation
Buyer(s) CP
Sellers(s) Lombard Investments
Deal Type Add-on Acquisition

Target

Dakota Minnesota & Eastern Railroad

Sioux Falls, South Dakota, United States
Lombard financed the formation of The Dakota, Minnesota & Eastern Railroad Corporation ("DM&E") in 1986 to acquire assets of the Chicago and North Western Transportation System. In 1996, DM&E expanded its geographical coverage through the acquisition of the 203-mile Colony Line from Union Pacific. In 2002, DM&E, through its subsidiary Iowa, Chicago & Eastern Railroad Corporation, acquired substantially all assets of the 1,403 mile I&M Rail Link, thereby creating the eighth largest contiguous rail system operating in the U.S. Since Lombard's initial investment, and with additional equity infusions by Lombard, DM&E has significantly expanded its business and improved its financial performance.

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Buyer(S) 1

Buyer

CP

Calgary, Alberta, Canada
Category Company
Founded 1881
Sector Transportation
Employees19,997
Revenue 12.6B CAD (2023)
DESCRIPTION

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

DEAL STATS #
Overall 1 of 5
Sector (Transportation) 1 of 3
Type (Add-on Acquisition) 1 of 4
State (South Dakota) 1 of 1
Country (United States) 1 of 4
Year (2007) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-29 Steelcare

Hamilton, Ontario, Canada

Steelcare, Inc. is a transload and distribution hub providing superior transloading, warehousing and distribution services of steel products.

Buy -

Seller(S) 1

SELLER

Lombard Investments

Daly City, California, United States
Category Private Equity Firm
Founded 1985
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Lombard Investments, Inc. is an international private equity firm focused on control and minority investments in Southeast Asia and Greater China. Lombard typically invests $5 to $50 million of equity capital to support expansions, financial restructuring, or management buyouts. Sectors of interest include food/beverage, retail, financial services, media/entertainment, healthcare, education, and energy. Lombard will not invest in untried technologies or companies involved in alcohol, armaments, tobacco, or gambling businesses. Lombard was formed in 1985 and has offices in San Francisco, Hong Kong, Bangkok, and Ho Chi Minh.

DEAL STATS #
Overall 4 of 9
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (South Dakota) 1 of 1
Country (United States) 2 of 2
Year (2007) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-03-01 Asia Books co.

Kwang Huaykwang, Thailand

Asia Books is the largest and best-known retailer and distributor of English language books and magazines in Thailand. The Company operates Asia Books stores in Bangkok as well as Bookazine stores in major regional tourist destinations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-16 Mermaid

Bangkok, Thailand

Mermaid is a provider of marine and offshore oil and gas services. Mermaid's main business involved sub-sea engineering services, including saturation diving for energy-related inspection and maintenance. As world oil prices began to rise, Mermaid used capital from Lombard to acquire offshore rigs and support vessels to build a highly successful contract drilling operation. The Company now operates a wide range of marine services throughout Southeast Asia, and has recently expanded its market to include India, China, Sakhlin, the Middle East, and South America. Mermaid was founded in 1983 and is based in Bangkok, Thailand.

Sell -
Mergr

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