C.A.T. buys Penner International
COTEAU-DU-LAC, Que. – C.A.T. has announced its purchase of 300-plus truck fleet Penner International.
C.A.T. says the move will contribute to its continued development of its business in Western Canada.
“We have taken significant steps in the recent years to grow our business. The acquisition of SLH in 2018 offered C.A.T. an entrance into Western Canada which is an area we hadn’t been before,” said Daniel Goyette, president of C.A.T. “Once we understood the business in the west, we recognized great potential for us to continue to grow. We spent 2019 putting the right team in place, then we searched for where we could invest to continue to develop our western business.”
Penner International is a third-generation family-run business.
“Mr. Penner believed it important that whoever would take over believed and instilled a family culture and treated employees with respect,” Goyette added. “In addition, he wanted to ensure whoever would be his successor had proven experience to grow the business.”
Penner International will remain a separate division of C.A.T.
“C.A.T. is focused on helping support our customers reach across Canada, throughout the U.S. and Mexico and therefore continuing to develop Western Canada through organic sales growth and strategic acquisitions like Penner International are the logical next steps in our company’s evolution. I am thrilled to welcome them to our family and focused on ensuring a bright future together,” Goyette concluded.
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I like how they say that they will run Penner a separate company. They said the same thing about slh. And after a year, they took over and completely destroyed a fabulous company. Had people with over 30 years at the company walk out the door. Because of it. .
Welcome to acquisition sales. SLH was in problems when Sears closed there doors as like most carriers put too many of there faith in one company. That was why equipment was parked all over. I have been through this with 3 companies. Liquidations of some assets, raise rates to get some money back, improve safety record and finally become one.
Sorry Penner employees facts of what takes place over time. Penner’s is a good acquisition for any company as they are/were respected by those that represented the name. I’ve never worked for them but have never heard anyone speak bad of them even those that I hired that left. Hope for the best of all involved as the flip side is very challenging for individuals as well as there families.
I’m happy for Mr. Penner ,that he was able to find a company that will treat it as their own. I’m employed with
Penner International as an owner operator, and hope that everything stays the way they are. so far they have
treated me/us very very well. I hope that we can continue to work together and help the company grow.
To Daniel Goyette. Félicitations.