iCON Infrastructure

iCON Infrastructure in its investment in QSL


iCON Infrastructure




Mergers and Acquisitions

Date Closed

February 2024



Lead Office



On February 23, 2024, QSL International Ltd. announced the arrival of new shareholders: funds advised by iCON Infrastructure LLP, CDPQ and the QSL management shareholders already active in the company's capital.

QSL is a North American port terminal and logistics operator headquartered in Québec, with a portfolio of 64 multi-purpose cargo terminals across Canada and the US.

iCON is a long-term investor focused on infrastructure businesses in Europe and North America.

CDPQ is a global investment group which is already active in the QSL’s capital structure.

Osler, Hoskin & Harcourt LLP advised iCON Infrastructure with a team led by Alex Gorka and Brian Gray (Corporate) in respect to M&A and co-investment components of the transaction. Chris Bennett and Marta Rochkin (Financial Services) led the acquisition financing component of the transaction. The rest of the deal team included Kevin Feng, Amy Sigurdson, Jessie Armour (Corporate), Hayley Larkin (Financial Services), Drew Morier, Jean-Philippe Dionne (Tax), Rod Davidge, Alexei Kovalev, Vincent Brais, Dakota Secours (Real Estate), Jennifer Fairfax, Evan Barz (Environmental), Sven Poysa, Irmak Aydemir, Carrington Hickey (Employment & Labour), Sam Ip, Arsalan Ahmed (Technology), Sandra Sbrocchi, Sergey Stefanishin, Asma Bouali (Osler Works – Transactional), Lynne Lacoursière, Nick Guadagnolo (Executive Compensation), Shuli Rodal, Alysha Pannu (Antitrust & Foreign Investment), Adam Laroche and Gemma Devir (Privacy and Data Management).