US bulker owner Rand Logistics has struck a deal to acquire American Steamship Co (ASC), the biggest owner of domestic lakers.
The share-purchase agreement will see Rand take over the company from GATX, a railcar lessor, to create the biggest bulker company in the Great Lakes market.
Restructured Rand, an affiliate of private equity fund American Industrial Partners (AIP), did not reveal a price for the transaction.
