Novacap Industries buys transport specialist GTI Group

Canadian mid-market private equity firm Novacap has acquired GTI Group, a global provider of transportation, freight, container and warehousing services, according to Gowling Lafleur Henderson LLP. Gowling provided legal counsel to Novacap on the deal.

While the transaction’s value was not disclosed, Gowling said the consideration was payable in cash, shares and through a reverse earn-out.

Based in Dorval, Québec, GTI is a privately held company that operates four divisions: GTI Specialized Transporation, GTI Global Freight Systems, GTI Transport (US) and GTI Warehouse and Packaging. The company was established in 1992.

The GTI acquisition was made by Novacap Industries III LP, which closed in 2008 with $400 million in capital commitments.

Based in Longueuil, Québec, Novacap has assets under management totaling more than $800 million. The firm also has an office in Toronto.

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