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VERSPEETEN BUYS MOE’S

The biggest news of the past couple weeks was undoubtedly Verspeeten Cartage’s acquisition of Moe’s Transport. This was an ambitious move by Verspeeten. Think about this for a second: Verspeeten, the buyer, runs about 280 tractors...


The biggest news of the past couple weeks was undoubtedly Verspeeten Cartage’s acquisition of Moe’s Transport. This was an ambitious move by Verspeeten. Think about this for a second: Verspeeten, the buyer, runs about 280 tractors and 518 trailers. Moe’s, the bought, runs 350 tractors and 690 trailers. Verspeeten more than doubled its fleet size with this acquisition. Both carriers served many of the same automotive customers.

Mark Borkowski, president of Mercantile Mergers & Acquisitions Corp., said Verspeeten’s ability to take on such a major acquisition speaks to its strong management.

“They bought (Moe’s) because they wanted the customers,” Mark said. “They wanted the organization. (It’s a) well managed company. Well structured. Even as smaller guys they were able to go to their bank and say, ‘Look at how well this company is managed. We want to take on a giant.’ Yes, the smaller guy did prevail in this particular case. You will see those types of transactions on occasion but not as often as we used to.”

I’ll have more details on the reasons for the acquisition and how it came to happen in the weeks ahead. Stay tuned. And be sure to check Trucknews.com daily for the latest breaking M&A news. We are always the first to report these developments and we take a lot of pride in it.


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Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry.
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