MONTREAL, Que. – TFI International has purchased the assets of MCT Transportation, a refrigerated and dry van subsidiary of Comcar Industries.
TFI paid US$9.6 million for the assets, including accounts receivables, as well as $2.8 million for two real estate properties located in Florida and Arkansas. Comcar and its subsidiaries filed for Chapter 11 bankruptcy protection in May.
MCT Transportation is based in Sioux Falls, S.D., and delivers packaged food, agricultural, medical, and automotive products throughout the Southeast and Midwest U.S., generating $45 million in revenue last year. It operates more than 130 tractors and has 90 owner-operators working for it, and owns 340 reefer trailers and 275 dry vans.
“We are excited to welcome the MCT team to TFI International to help enhance our truckload capabilities in the U.S.,” said Alain Bedard, chairman, president and CFO of TFI International. “MCT brings a host of capabilities including key regionalized lanes in the Midwest and Southeast, specialized Florida-originating outbound lanes, and dedicated Midwest-West lanes. Importantly, MCT has strong overlap with our existing customers allowing us to provide service across an expanded region, as well as overlap in multiple facilities which we can leverage to drive significant efficiencies.”
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