MONTREAL (April 28, 2004) — TransForce Income Fund announced today the acquisition of Boucherville, Que.-based Transport N.J.N., a truckload carrier that operates under the name Transpel.
Transpel — the sixth largest fleet in Quebec, with 250 tractors and 800 trailers — specializes in container hauling and some flat deck services. The company achieved revenues of more than $33 million in its last fiscal year.
TransForce CEO Alain Bedard said Claude Deragon will remain Transpel’s president. “With this agreement, we are continuing to pursue our long-term growth strategy,” Bédard said. “Transpel has established a solid presence in the specialized truckload sector.”
Transpel is the largest of several Quebec carriers TransForce has acquired since the start of 2004. Earlier this year Canada’s largest for-hire carrier bought Transport S.A.S. of Drummondville and Transport George Lacaille Ltd., among other smaller carriers.
Last summer, TransForce completed a blockbuster deal with the acquisition of Canadian Freightways at auction for $69.6 million, plus another $15 million of CF debt.
The Transpel deal is expected to close in mid-May 2004.
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