The Canadian company Cando Rail & Terminals has entered into a definitive agreement with Texas Deepwater Partners to acquire Channelview Terminal, its first US terminal located in Houston.
The transaction, which is subject to certain conditions and customary regulatory approvals, is expected to close in Q4 2025. Financial terms of the transaction were not disclosed.
The Cando Channelview Terminal is a first-class, private railcar storage, staging, and transload terminal with existing capacity of 900 railcars, surplus real estate for future growth, and connects to the BNSF Railway, CPKC, and Union Pacific Railroad networks through the Port Terminal Railroad Association (PTRA).
“We are pleased to add our first US terminal to our network of terminals. Cando Channelview Terminal is right down the middle of the fairway for Cando, and we look forward to engaging with the PTRA, existing customers, and new customers to enhance their supply chains and expand the terminal. In addition, we are excited to be the exclusive rail partner to Texas Deepwater and support its plans to further develop the site,” Brian Cornick, CEO of Cando, said.
With the acquisition, Cando’s network will have the capacity to store and stage more than 13,000 railcars. On closing of the transaction, the company will own and operate 15 rail terminals and one short line railway, in addition to providing rail operations at more than 50 customer locations.
The acquisition of Cando’s newest terminal in Houston, TX, marks the company’s third terminal acquisition in the last two years. Recently, the company has secured a loan from the Canada Infrastructure Bank for terminal expansion in Alberta.
“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. Cando plans to continue investing organically and inorganically in critical rail infrastructure to support shipper-customers and Class I partners,” Brian Cornick said.
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