M&A Deal Summary

Rand Logistics Acquires American Steamship

On February 10, 2020, Rand Logistics acquired transportation company American Steamship from GATX

Acquisition Highlights
  • This is Rand Logistics’ 1st transaction in the Transportation sector.
  • This is Rand Logistics’ 1st transaction in the United States.
  • This is Rand Logistics’ 1st transaction in New York.

M&A Deal Summary
Date 2020-02-10
Target American Steamship
Sector Transportation
Buyer(s) Rand Logistics
Sellers(s) GATX
Deal Type Divestiture

Target

American Steamship

Williamsville, New York, United States
American Steamship is a provider of marine transportation and shipping services. American Steamship was founded in 1907 and is based in Williamsville, New York.

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Buyer(S) 1

Buyer

Rand Logistics

Jersey City, New Jersey, United States
Category Company
Founded 1994
Sector Transportation
Employees515
Revenue 315M USD (2021)
DESCRIPTION

Rand Logistics is a provider of bulk freight shipping services throughout the Great Lakes region. Through its subsidiaries, the Company operates a fleet of three conventional bulk carriers and twelve self-unloading bulk carriers including three tug/barge units. The Company is the only carrier able to offer significant domestic port-to-port services in both Canada and the U.S. on the Great Lakes.

DEAL STATS #
Overall 2 of 3
Sector (Transportation) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-06 Lower Lakes Towing

Port Dover, Ontario, Canada

Lower Lakes Towing, Ltd. along with its subsidiary provides bulk freight shipping services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-31 Andrie

Muskegon, Michigan, United States

Andrie is a maritime company which focuses on marine transportation and specialized marine solutions. Andrie was founded in 1988 and is based in Muskegon, Michigan.

Buy -

Seller(S) 1

SELLER

GATX

Chicago, Illinois, United States
Category Company
Founded 1898
Sector Transportation
Employees2,020
Revenue 1.4B USD (2023)
DESCRIPTION

GATX is a finance and leasing company that leases, operates, manages, and remarkets assets in the rail and marine markets. GATX was founded in 1898 and is based in Chicago, Illinois.

DEAL STATS #
Overall 4 of 4
Sector (Transportation) 3 of 3
Type (Divestiture) 3 of 3
State (New York) 1 of 1
Country (United States) 3 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-01 Tank Storage Interests - GATX

Singapore

Tank Storage Interests - GATX include include facilities in Singapore, Malaysia, China, and Japan.

Sell -
Mergr

Product

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