MARKHAM, Ont. - A group of Highland Transport executives have joined with TriWest Capital Partners of Calgary to buy out the Markham-based fleet from Westminster Holdings."This is just a great opportu...
MARKHAM, Ont. – A group of Highland Transport executives have joined with TriWest Capital Partners of Calgary to buy out the Markham-based fleet from Westminster Holdings.
“This is just a great opportunity for Highland and the whole group of investors,” says Norm Sneyd, Highland Transport president and part of the new ownership group.
If the tentative deal goes ahead, the group of owners will include Sneyd; Mark Brennan, vice-president of sales and marketing; Geoff Scott, vice-president of operations; Scott Owens, controller; and TriWest investors, including founding partners Ron Jackson and Lorne Jacobson. Sneyd says TriWest has made it clear the company will be allowed to operate as it has in the past.
“They’ve told us point blank, that they’re not the truckers, we are,” he explains. Highland hauls for customers in the auto, transportation, chemical and beverage industries and the company currently operates 800 power units, (although 50 tractors will soon be sold to drivers hoping to become O/Os). Financial terms of the deal, expected to be approved by regulators by the end of April, weren’t disclosed. n
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