WINNEPEG, Manitoba — Cando Rail & Terminals has signed an agreement to acquire the rail operations of Salt Lake City-based Savage Enterprises in a deal that will create North America’s largest operator of first- and last-mile rail infrastructure, the companies said today.
Savage Rail has operations in key markets across the U.S., including along the Midwest, Gulf Coast, and Southeast. The transaction will accelerate Cando’s U.S. expansion plans, while strengthening its existing network in Canada.
The combined company will operate a coast-to-coast network of assets in North America with no geographic overlap that will include:
- 36 railcar storage, staging, and/or transload terminals;
- Three shortline railways;
- 80 first and last mile rail service operations, as well as access to all six Class I railroads.
“The industrial rail environment is fundamentally different than a decade ago — customer supply chains are increasingly continental, and they choose partners that can support their evolving needs with greater reach and efficiency. Bringing Cando and Savage Rail together will create the leading integrated rail terminal and infrastructure company in North America to meet these needs and beyond,” Cando CEO Brian Cornick said in a news release. “By combining two highly complementary teams and capabilities with Cando’s strong financial profile, we’re creating a stronger, more resilient platform to support our customers, team members, and communities today and invest for the long term. We are excited to welcome the Savage Rail team to the Cando family.”
Combining the two businesses also aligns with Savage’s growth goals. “This is a great opportunity for Savage Rail and Savage as a whole,” said Savage CEO Jeff Roberts. “We’re excited about the additional offerings Cando will provide for our rail services customers as a pure-play rail company as well as the investment opportunities that this sale will provide for our other businesses.”
Savage Enterprises will continue to operate as a separate entity overseeing its Bartlett and Texon,Refinery Services and Energy & Mineral Services business.
“Combining with Cando represents a logical next step in our growth journey and the continued evolution of our rail assets. Cando shares our commitment to deliver safe, reliable rail operations at critical points in our customers’ supply chains and provides meaningful opportunities for our people,” said Mike Miller, senior vice president and rail services leader, Savage Rail. “This combination allows us to preserve what makes our rail business special while giving our customers and teams access to broader resources and a North American platform that’s built for sustainable growth.”
The companies said that customers will gain access to a broader, more connected rail network that supports production certainty and enables faster, more efficient movement of goods. Direct connectivity to all six Class I railroads will enable Cando to work together with the Class Is to help improve customers’ ability to move product seamlessly across the continent.
The expanded Cando will have more than 2,000 combined employees across Canada and the U.S. Cando will maintain its global headquarters in Manitoba and plans to establish a new U.S. headquarters in Salt Lake City.
The addition of Savage Rail builds on Cando’s recent acquisition of its Channelview Terminal and associated rail operations located on the Houston Ship Channel. The Savage Rail transaction is Cando’s fourth acquisition in just over two years, together representing more than $1 billion in capital investment.
The transaction is anticipated to close in the second quarter of 2026, subject to closing conditions and customary regulatory approvals.
— Updated at 1:26 to correct that Cando is acquiring Savage Rail operations but Savage will continue to operate and oversee other portions of its business. To report news or errors, contact trainsnewswire@firecrown.com.
