Manitoba, Canada-based Cando Rail & Terminals on Oct. 3 reported entering a definitive agreement to acquire the rail terminal and associated operations of Texas Deepwater Partners, a joint venture project formed by USD Group LLC and Pinto Realty Partners to develop an energy logistics terminal on the Houston (Tex.) Ship Channel. On Dec. 4, Cando announced it had completed the acquisition. Financial terms were not disclosed.
It was Cando’s third acquisition in the past two years. The company purchased AWP Industries in Canada’s Northwest Territories in November 2024 and Transmark in Southwest Alberta in December 2023.
Cando’s newest terminal is called the Cando Channelview Terminal and expands Cando’s network to 15 owned and operated rail terminals with a total capacity to store and stage more than 13,000 railcars. Cando also runs a short line (67-mile Central Manitoba Railway) and provides rail operations at more than 50 customer locations (see map below).
“Today marks the beginning of an exciting new chapter as we add our first terminal in the United States to our network of terminals,” Cando President and CEO Brian Cornick said on Dec. 4. “The Cando Channelview Terminal is a multi-customer, multi-purpose railcar storage, staging, and transload terminal strategically located on the north side of the Houston Ship Channel, serving many of the world’s largest petrochemical producers. With existing capacity of 900 railcars, surplus real estate for future growth, and connections to the BNSF, CPKC, and Union Pacific networks through the Port Terminal Railroad Association, the terminal supports both existing and new shipper-customers, as well as existing and new Class I railroad partnerships.”
“After many years focused on organic growth, Cando has built a demonstrated track record of executing and integrating strategic acquisitions to enhance our network across North America,” Cornick noted in October. “Cando plans to continue investing organically and inorganically in critical rail infrastructure to support shipper-customers and Class I partners. Cando is uniquely positioned with world-class operations, a corporate culture obsessed with safety and customer experience, multi-decade partnerships, and an in-house design & engineering team, combined with an investment-grade balance sheet and significant access to capital.”
Cando in February opened the Cando Southlands Rail Yard in Strathcona County, Alberta, Canada.
