MONTREAL, Que. -- TransForce has purchased Stafford, Texas-based Velocity Express and its subsidiaries, which include 80 locations across the US and Western Canada, employing about 2,600 staff and independent contractors.
Velocity provides same-day regional delivery services. The acquisition is expected to add $160 million in revenue for TransForce and should conclude by the end of January, the company announced.
“The acquisition of Velocity further enhances TransForce’s density in the same-day North American package and courier market and reflects our disciplined and selective approach in building our network,” said Alain Bedard, chairman, president and CEO of TransForce. “A trusted provider of customized, same day regional delivery services in the US for nearly 20 years, and a well-established player in Western Canada. The transaction will be accretive for TransForce and will provide a sound return on investment to the benefit of our shareholders.”