CALGARY, Alta. – Trimac has announced it has agreed to purchase Gibson Energy’s trucking business.
Trimac says the purchase expands is bulk transportation services, as Gibson has a large presence in Western Canada. Gibson was founded in 1953 as Gibson Petroleum Marketing Company, and was one of the first midstream companies in Canada to move and market crude oil.
Its first semi-trailer purchase came in 1969, when it began hauling heavy crude oil using its private fleet. It now hauls products including crude, condensate, LPG, sulphur, asphalt and petroleum coke.
Trimac will continue providing transportation to Gibson Energy through a long-term exclusive agreement and will take on its commercial trucking contracts, equipment, and 160 employees.
“We are pleased that Gibson chose to partner with Trimac to provide transportation services and to support their growth,” said Matt Faure, president and CEO of Trimac Transportation. “The addition of Gibson’s Canadian trucking business to our large portfolio of North American transportation businesses is a perfect example of how we continue to diversify and expand our business into new markets as part of our strategic plan.”
Gibson Energy, which helps send one in four barrels of crude exported from Western Canada through its Hardisty terminal in central Alberta, says it will pocket about $100 million from the sale.
It says Trimac Transportation has agreed to pay about $70 million for the trucking assets and a Trimac affiliate is to pay $30 million for property in Edmonton containing a field office and shop, with the deals expected to close later this year.