DAILY NEWS Jan 24, 2014 4:34 PM - 9 comments

Verspeeten Cartage buys Moe's

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2014-01-24

INGERSOLL, Ont. -- Trucknews.com has learned that automotive trucking company Verspeeten Cartage has purchased Moe’s Transport.

Scott Verspeeten, general manager of Verspeeten Cartage confirmed the deal this afternoon. Even before the deal, Verspeeten ranked as one of Canada’s biggest automotive specialists. According to the Top Tier report published by Motortruck Fleet Executive, Verspeeten ran 280 tractors and 518 trailers. Moe’s operates 350 tractors and 690 trailers.

“The purchase of Moe’s fits well into our existing business segment, sharing many of the same customers which should strengthen and increase current capacities,” said Ron Verspeeten, president of Verspeeten Cartage. “We are very excited to work with Moe’s Management and staff, continuing to provide quality truckload service to all customers.”

Moe’s operates terminals in Windsor, Ont., Whitby, Ont. and Romulus, Mich. Just last year Verspeeten celebrated its 60th year in business.

Mark Borkowski, president of Mercantile Mergers & Acquisitions Corp., said Verspeeten’s ability to take on such a major acquisition speaks to its strong management.

“They bought (Moe’s) because they wanted the customers,” Borkowski said. “They wanted the organization. (It’s a) well managed company. Well structured. Even as smaller guys they were able to go to their bank and say, ‘Look at how well this company is managed. We want to take on a giant.’ Yes, the smaller guy did prevail in this particular case. You will see those types of transactions on occasion but not as often as we used to.”


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Reader Comments

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Heather

First of all congrats on Verspeeten to take on a good company! That's not right that the staff was left in the dark.. If it wasn't for the drivers and staff working at Moes.. There wouldn't be a company! On another note.. I caught wind that a lot of jobs have been cut and putting families out on the street.. That says alot for their so called "family friendly" company! However, I work for the border and I always see moes tractors and trailers crossing.. They are usually clean and look well maintained BUT I have noticed, since this new change unveiled they have been quite dirty. I hope Verspeeten stays on top of that due to Windsor being a border city as well as a clean truck and trailer is a safe truck and trailer.. Hopefully for the drivers sake the custom agents will be able to read their numbers on their trucks!

Posted March 24, 2014 12:28 PM


Doug Humpage

I agree with Steve. We drivers should have been informed long before this. But thats the way things roll at Moe's ,always left out in the dark.Hope things get better with new employer

Posted February 1, 2014 11:24 PM


Larry

I was with GM and dealt with Ron and the Verspeeten family and employees. They are stand up folks and know how to run an ethical and forthright businsee. They did not play the financial trickery that his competitors did to land new business...I'm sure this will be a very good move for all of the employees of Moes as well.

Posted February 1, 2014 09:51 AM


Steve Dmytrow

I'm not sure weither this is a good deal or bad deal. I have never heard any negative remarks about verspeden. I guess time will tell. However I'm very disappointed as well as other Moe's drivers as to the way this was handled. Everyone of Moe's employees where very dedicated to the company. It was the employees that made the company what it is today through hard work and dedication. It was a total shock that we were left in the dark about this deal. Many of us heard from people who are not even in the trucking industry. Shame on you Moe. I hope verspeden has plans in the near future on meeting with the drivers to discuss the future of the company before they have more drivers quit.

Posted January 30, 2014 10:22 AM


kevin

Good news glad to hear & see that a good older Canadian company is doing well & getting bigger. I go back to the 70s & 80s working beside the Verspeeten boys hauling grain. I was at Mcburney,s back then so all the best to Verspteeten cartage keep the big green trucks rolling.

Posted January 29, 2014 07:14 PM


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