Astatine Investment Partners (AIP), formerly known as Alinda Capital Partners, has announced its acquisition of McKeil Marine Limited, a prominent Canadian marine transportation firm, from TorQuest Partners.
Founded in 1956, McKeil Marine has established itself as a leader in marine transportation and project services in Canada.
With a modern and diverse fleet of 13 vessels, including the largest in-class collection of tugs and barges on the Great Lakes, McKeil caters to a broad spectrum of customers across various industries. The company’s operations extend across the Great Lakes, St. Lawrence Seaway, East Coast, and the Canadian Arctic.
Jim Metcalfe, CEO and Co-Managing Partner of Astatine, expressed enthusiasm about the partnership with McKeil, highlighting the company’s innovative services and robust market position.
Metcalfe emphasized the strategic opportunities for expanding McKeil’s diverse fleet and service offerings, noting the potential for growth and market leadership enhancement.
Astatine, with a portfolio spanning over 30 infrastructure businesses across North America and Europe, serves over 100 million customers annually.
Its investments encompass sectors like digital, transportation, utilities, and essential services. The firm’s current holdings include notable enterprises such as ACL Airshop, PECO Pallet, and Virginia International Gateway.
Echoing the sentiment, Scott Bravener, CEO of McKeil Marine, conveyed his excitement about the partnership with Astatine, aligning with McKeil’s mission to become Canada’s premier marine transportation provider.
He praised Astatine’s expertise in scaling marine transportation and logistics businesses, foreseeing a fruitful collaboration.
Astatine sought advisory services from National Bank Financial and legal counsel from Cassels Brock & Blackwell LLP, among other reputable firms, for the acquisition process.