WINNEPEG, Manitoba — Cando Rail & Terminals has signed an agreement to acquire the rail operations of Salt Lake City-based Savage Enterprises in a deal that will create North America’s largest operator of first- and last-mile rail infrastructure, the companies said today.
Savage Rail has operations in key markets across the U.S., including along the Midwest, Gulf Coast, and Southeast. The transaction will accelerate Cando’s U.S. expansion plans, while strengthening its existing network in Canada.
The combined company will operate a coast-to-coast network of assets in North America with no geographic overlap that will include:
- 36 railcar storage, staging, and/or transload terminals;
- Three shortline railways;
- 80 first and last mile rail service operations, as well as access to all six Class I railroads.
“The industrial rail environment is fundamentally different than a decade ago — customer supply chains are increasingly continental, and they choose partners that can support their evolving needs with greater reach and efficiency. Bringing Cando and Savage Rail together will create the leading integrated rail terminal and infrastructure company in North America to meet these needs and beyond,” Cando CEO Brian Cornick said in a news release. “By combining two highly complementary teams and capabilities with Cando’s strong financial profile, we’re creating a stronger, more resilient platform to support our customers, team members, and communities today and invest for the long term. We are excited to welcome the Savage Rail team to the Cando family.”
Combining the two businesses also aligns with Savage’s growth goals. “This is a great opportunity for Savage Rail and Savage as a whole,” said Savage CEO Jeff Roberts. “We’re excited about the additional offerings Cando will provide for our rail services customers as a pure-play rail company as well as the investment opportunities that this sale will provide for our other businesses.”…