Logistec Corp., a Montréal-based marine and logistics provider, has entered into an agreement to acquire 100% of IPA Terminal, a breakbulk and steel handling facility at the Port of Altamira, marking the company’s first move into Latin America.
The transaction, announced Tuesday, aims to position Logistec as a broader global multi-purpose marine terminal operator and expands its presence beyond its established North American footprint, company officials said.
“This expansion is a defining moment for Logistec, as we position our organization for accelerated international growth,” CEO Sean Pierce, said in a news release.
“Mexico is a dynamic market, and by acquiring IPA, we are extending our reach, connecting our network to key industries, delivering value-added cargo solutions and opening new global opportunities for our customers and partners.”
Terms of the transaction were not disclosed. Completion of the transaction is subject to regulatory approval by Mexican authorities.
IPA Terminal — which includes IPA, ATEMSA, SMA and STEEL — is described as a pivotal hub in the Gulf of Mexico specializing in breakbulk and steel commodities. The facility serves major industrial customers and regional supply chains with modern infrastructure, deepwater access and a skilled workforce.
The Port of Altamira is an industrial port facility located on Mexico’s coast on the northwest side of the Gulf of Campeche. It is located in Altamira, Tamaulipas, about 56 miles from the U.S.-Mexico border.
The port saw 18.5 million tons of cargo in 2025, according to Mexico’s federal port administration. Altamira handles everything from containerized cargo, liquid/dry bulk, petrochemical fluids, liquified natural gas and specialized oversized project cargo. It is a leading port for vehicle exports and imports (over 300,000 units annually).
Logistec currently operates across a North American network of 63 ports and 86 terminals, providing bulk, breakbulk and container cargo handling, as well as logistics services including trucking and warehousing.
