Divestiture • Transportation

Rand Logistics Acquires American Steamship

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

Acquisition Context
  • 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.

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M&A Deal Summary

Date February 10, 2020
Target American Steamship
Sector Transportation
Buyer(s) Rand Logistics
Sellers(s) GATX
Deal Type Divestiture

Target Company

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 Overview 1

Buyer

Rand Logistics

Williamsville, New York, 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 Canada. Rand Logistics was founded in 1994 and is based in Williamsville, New York.


Deal Context for Buyer #
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 Profile 1

SELLER

GATX

Chicago, Illinois, United States

Category Company
Founded 1898
Sector Transportation
Employees2,150
Revenue 1.6B USD (2024)
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 Context for Seller #
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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-23 DB Cargo s 6 000 Freight Railcars

Mainz, Germany

DB Cargo's 6,000 Freight Railcars comprise a diverse mix of wagon types used in European rail freight operations. DB Cargo's 6,000 Freight Railcars is based in Mainz, Germany.

Buy -