INDIANAPOLIS — Celadon Trucking Services has inked a deal to acquire Wroxeter, ON-based Hyndman Transport as part of the company’s plan to expand its Canadian footprint.
Hyndman operates 175 tractors earned $48 million in revenue in 2012 through domestic business combined with cross-border shipments.
“We believe this acquisition offers solid potential to expand our domestic Canada footprint and advance our overall growth plans by delivering growth in our dry van, cross border transportation service offering,” says Paul Will, president and CEO of Celadon Trucking.
Celadon will keep Hyndman’s 21-acre facility in Wroxeter, while continuing to operate their Celadon Canada building in Kitchener, ON. Mike Campbell, Hyndman president and Jeff Sippel, Hyndman CFO will both stay on with Celadon to help manage the business.
“We’re excited to work with Mike Campbell and Jeff Sippel, who will continue to help manage and service existing Hyndman business,” says Will.
Based on previous acquisitions, Will also believes that the acquisition can help provide upgraded equipment, better technology and more resources available for dispatch.
The financial details and terms and conditions of the purchase were not disclosed.
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