On March 1, 2018, GSM Maritime Holdings, LLC and subsidiaries, doing business as Gulf Stream Marine (“GSM” or the “Company”), a portfolio company of The CapStreet Group (“CapStreet”), was acquired by Logistec Corporation (“Logistec”). BB&T Capital Markets served as the exclusive financial advisor to Gulf Stream Marine.
Kevin Bourbonnais, Chief Executive Officer of Gulf Stream Marine, noted: “BB&T was a great partner throughout the process, providing constructive feedback and guidance at every stage. The success of the transaction is due in part to the significant efforts of the entire BB&T Team.”
“We appreciate the opportunity to work with Gulf Steam Marine and CapStreet on this transformative transaction in the port services and logistics space,” said Hugh Rabb, Managing Director and Co-Head of the Logistics & Transportation Group at BB&T Capital Markets. “We are excited to see the Company find a partner in Logistec that shares its commitment to best-in-class service.”
About the companies
Gulf Stream Marine
Gulf Stream Marine is a leading marine stevedoring and terminal management company specializing in handling break-bulk cargo. The company's services include cargo handling and other value-added services primarily for ocean carriers, shipping companies, third-party logistics providers and manufacturers. GSM is the dominant break-bulk stevedoring company at the Port of Houston, which is the largest break-bulk port in the United States. The company was founded in 1990 and is based in Houston, TX.
The CapStreet Group
The CapStreet Group is a Houston, Texas based private equity firm that invests in owner-managed, lower middle market companies. CapStreet targets companies operating in the value-added distribution, industrial services and manufacturing, and business-to-business service sectors. CapStreet’s approach is to partner with excellent management teams to build out corporate infrastructure, accelerate growth and profitability, and create long-term sustainable businesses.
Logistec Corporation (TSX:LGT.B) is a Canadian-based public company located in Montréal (Québec). Logistec provides specialized services to the marine community and industrial companies. It offers bulk, break-bulk and container cargo handling throughout a network of facilities in eastern North America. In addition, Logistec offers marine transportation services geared primarily to the Arctic coastal trade, short-line rail transportation services, as well as marine agency services to foreign shipowners and operators serving the Canadian market. Logistec also operates in the environmental sector where it provides services to industrial, municipal and governmental customers for the trenchless structural rehabilitation of underground watermains, regulated materials management, site remediation, risk assessment, and manufacturing of woven hoses.
Logistics & Transportation
Our Logistics & Transportation Team provides comprehensive investment banking services across eight industry segments and is one of the most active advisors in the middle-market.
Since 2010, our Logistics & Transportation Team has closed more than 40 sell-side M&A transactions and 60 public debt and equity offerings.
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