TorQuest Partners, a Toronto-based midmarket private equity firm, has invested in Cando Rail Services Ltd. of Brandon, Manitoba.
Cando Rail, founded in 1978, is a rail service that aids industrial customers in sending bulk materials through supply chains, connecting them to Class I railways. TorQuest did not disclose financial terms of the deal in a Nov. 8 press release.
Cando, with 600 employees, offers rail services across North America and has 25 locations to connect to bulk-material supply chains. The services include logistics, industrial switching and mechanical services. Cando also designs, builds and operates facilities on customers’ behalf, including rail-to-truck or truck-to-rail transloading locations.