Cando Names Nate Servis as New CFO

Servis will replace current CFO Rick Soenen who is retiring.

WINNIPEG, MB – March 26, 2024 – Cando Rail & Terminals, one of North America’s largest owners and operators of first and last mile rail infrastructure, is pleased to announce the appointment of Nate Servis as Chief Financial Officer. Servis officially joined the senior leadership team on March 26, 2024, replacing Rick Soenen who is retiring.

Servis brings a wealth of knowledge of the Transportation & Logistics sector from his 15+ years of Wall Street investment banking experience. He spent the last ~15 years at Wells Fargo Securities, most recently as a Managing Director in the Industrials group, where he was responsible for the origination and execution of M&A and capital raising transactions for clients in the Transportation & Logistics sector. Over the last few years, Servis led the firm’s coverage of the rail sector and brings deep knowledge of and relationships with Class I and short line railroads, rail service providers, and port and terminal operators, in addition to investors that target the sector. Servis led the sale of Cando Rail & Terminals to AIMCo in November 2022.

Brian Cornick, President & CEO of Cando Rail & Terminals, highlights the importance of this strategic hire as Cando invests organically and inorganically in critical infrastructure to support shipper-customers and Class I partners.

“As we continue on our tremendous growth trajectory, balancing organic growth with strategic acquisitions is a cornerstone of our playbook, and bringing in Nate will enhance these efforts,” says Cornick. “In addition, Nate brings relationships and credibility with key players in the United States, a core strategic growth area for Cando. His deep understanding of our company and industry, combined with his strategic finance track record, will help propel Cando to new heights.”

Prior to joining Wells Fargo Securities, Servis began his career at Robert W. Baird in the Consumer & Industrials investment banking group. Servis holds a B.A. in economics, with a concentration in finance, from Dartmouth College.

About Cando Rail & Terminals
Cando Rail & Terminals is Canada’s leading provider of specialized rail operating services and terminal infrastructure 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.