Pender West buys transport and storage services provider OCTS

Pender West Capital Partners has bought Overland Container Transportation Services Corp (OCTS), an intermodal container transportation and storage services provider based in Edmonton. The seller in the undisclosed transaction was Jean-Marc Binette, the company’s founder, who said the partnership with Pender West would help implement a successful succession plan. Established in 1991, OCTS works with shipping lines, freight forwarders, and direct customers and producers to ensure pick-up, delivery and storage of international cargo containers for import and export in Western Canada. Pender West is a Vancouver-based family office manager that invests directly in mid-market businesses.

PRESS RELEASE

Pender West Acquires Overland Container Transportation Services

EDMONTON, AB (December 16, 2013) Pender West Capital Partners Inc. (“Pender West”) is pleased to announce its acquisition of Overland Container Transportation Services Corp. (“OCTS”), Alberta’s largest intermodal drayage and container storage company.

Founded in 1991, OCTS works with shipping lines, freight forwarders, and direct customers and producers to ensure on-time pick-up, delivery and safe storage and handling of international cargo containers for import and export in Western Canada.

“We are excited about this transaction and our management partners at OCTS. OCTS leads the intermodal drayage industry in Alberta with the largest fleet of chassis and lease operators, providing best in class service to their customers,” said Derek Senft, Vice President of Pender West. “The prospects for the intermodal industry in Western Canada are very strong. We look forward to supporting OCTS over the long term.”

Founder, entrepreneur, and seller Jean-Marc Binette said about the transaction, “Over the years I have been approached by several companies regarding the purchase of OCTS. I felt very strongly that Pender West would be the ‘right’ partners to work with and implement a successful succession plan for myself, OCTS, our employees and our customers. This is a very positive move for our company and will ensure the continued success of OCTS for the long term.”

CCC Investment Banking acted as advisor to OCTS. Collins Barrow provided transaction advisory services to Pender West and BMO Bank of Montreal provided financing.

For more information on this transaction please contact Bruce Hodge, Managing Director (bhodge@penderwest.com) or Derek Senft, Vice President (derek.senft@penderwest.com).

About Overland Container Transportation Services Corp.
OCTS is the largest intermodal container transportation and storage services provider in Alberta. Headquartered in Edmonton, OCTS has two storage locations in Edmonton and one in Calgary.

For further information, please visit www.octs.ab.ca.

About Pender West Capital Partners Inc.
Pender West is a private investment firm focused on making control investments in established businesses at the lower end of the middle-market. OCTS represents Pender West’s fifth portfolio company. With current business activities in transportation, manufacturing, food production and distribution, printing and packaging, payroll services and real estate, Pender West is focused on building value with its management partners over longer-term investment horizons.

For further information, please visit www.penderwest.com.

Photo courtesy of Shutterstock.