Fort Capital Partners is pleased to announce that Timber Investments Ltd. (“Timber“) has completed the purchase of a controlling interest in Columbia Containers Ltd. (“CCL“, or the “Company“) from Providence Grain Group (PGG). Financial terms of the private transaction were not disclosed.
CCL operates a specialty agri products container transloading facility on the south shore of Burrard Inlet in Vancouver, BC. The Company recently completed a major capital upgrade which will result in a substantial capacity increase to 1.5 million tonnes of annual throughput and includes the ability to more efficiently handle unit trains. CCL also provides freight forwarding services to PGG and other grain shippers through its wholly owned subsidiary, CWest Solutions Inc.
Investment in CCL complements Timber’s interests in two other west coast logistics operations. Timber is the principle investor in Fibreco Export Inc., a bulk wood pellet and grain loading facility located on the north shore of Burrard Inlet. The Fibreco facility, capable of receiving unit trains and loading out panamax sized vessels, will have an annual capacity of 3.6 million tonnes when its current expansion project is completed. Timber also indirectly operates Lulu Island Terminal, a wood product container transloading facility located in Richmond, BC, which is the largest purpose-built facility of its type on the west coast of Canada.
Fort Capital Partners and Blake, Cassels and Graydon LLP provided financial and legal advice to Timber Investments in connection with the investment in CCL.