USA: Canadian company Cando Rail & Terminals has announced the acquisition of its first US terminal, with a definitive agreement to acquire the Channelview Terminal in Houston from the Texas Deepwater Partners joint venture of USD Group and Pinto Realty Partners.
The terminal on the north side of the Houston Ship Channel offers private wagon storage, staging and transloading with a capacity of 900 wagons, space for future growth and connections to the BNSF, CPKC and Union Pacific networks through the Port Terminal Railroad Association.
‘We are very pleased to add our first terminal in the United States to our network’, said Cando President & CEO Brian Cornick on October 3. ‘This asset is right down the middle of the fairway for Cando.’
The transaction is expected to close in Q4 2025. Cando will then own and operate 15 rail terminals and one short line railway, in addition to providing rail operations at more than 50 customer locations.
Organic growth to strategic acquisitions
It is Cando’s third terminal acquisition in two years. ‘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’, said Cornick. ’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 and engineering team, combined with an investment-grade balance sheet and significant access to capital.’
