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May 4, 2007 10:45 AM, EDT

U.S. Firm Buying Canada Cartage

A U.S. private-equity firm will buy trucking company Canada Cartage for C$140 million, the Canadian Press reported Friday.

Canada Cartage Diversified Income Fund said Thursday that Nautic Partners, based in Providence, R.I., agreed to pay $11.30 per unit to acquire the fund, which owns 67% of CCD Limited Partnership, CP said.

Canada Cartage’s origins go back to 1914, and the company offers transportation services including trucking, warehousing and distribution, general cartage, logistics and moving services.

The company operates in 12 cities across Canada with a fleet of more than 1,500 trucks, 1,900 trailers and more than one million square feet in distribution and warehousing space, CP reported.