Cando Rail & Terminals Announces Sale of Quasar Platform to Trinity Industries
BRANDON, MB—May 31, 2022—Cando Rail & Terminals Ltd. is pleased to announce the sale of Quasar Platform to Trinity Industries, Inc. Quasar is an end-to-end rail logistics software platform providing a real-time data universe to freight rail shippers and operators.
Cando started Quasar in 2017 when it set out to develop a cloud-based yard management application to better serve its rail shipper customers. The successful development and growth of Quasar allowed Cando to solidify its market leading position in providing specialized rail service for more efficient supply chains. The acquisition allows Quasar to reach its next level of growth and enhances Trinity’s market leading digital product portfolio, including TrinsightTM.
“We are extremely proud of what we have achieved with Quasar. The partnership with Trinity represents an exciting next step in Quasar’s journey. With its experience and knowledge of digital products for rail, Trinity is a fantastic home for Quasar and we are very excited for its future,” says Brian Cornick, President & CEO, Cando Rail & Terminals.
PricewaterhouseCoopers Corporate Finance Inc. was the exclusive financial advisor to Quasar. Financial terms of the transaction are not being disclosed. Trinity will retain all employees of Quasar.
ABOUT CANDO RAIL & TERMINALS
Cando Rail & Terminals is Canada’s leading provider of specialized rail operating services that allow industrial shippers to optimize their supply chains and connect to Class 1 railways by leveraging Cando’s operating capabilities and network of owned multi-purpose rail terminals. The company provides a wide range of rail services including short line operations, industrial switching, material handling, terminal & transload services, railcar staging, train assembly, and related services. Fully embedded in their customers’ supply chain, Cando Rail & Terminals ensure their customers’ products get to where they need them, when they want them.
Media ContactJulie Pomehichuk
Director, Marketing & Communications