MONTREAL, Que. — TransForce Income Fund has signed a share purchase agreement to acquire Byers Transportation and its subsidiaries from Landtran Systems.
Headquartered in Edmonton, Byers Transportation has operated as an LTL carrier in Western Canada for more than 60 years and generates annual revenues of approximately $70 million.
From humble beginnings, Byers has grown over the decades to 35 branches, including five hub terminals. Byers provides service to more than 1,500 communities in Alberta, B.C., the Northwest Territories and the Yukon.
“The acquisition of Byers Transportation strengthens the TransForce presence in Western Canada and provides unique access to the Yukon and Northwest Territories” said Alain Bdard, chairman, president and CEO of TransForce Income Fund. “Byers will complement our less-than-truckload business by increasing route density in existing service areas and by extending our geographic coverage into previously unserviced locations.”
Paul Flanagan, who has been with Byers Transportation for 18 years, will be promoted to president and will lead the company’s management team following the acquisition.
Consistent with TransForce’s strategy of acquiring successful and well-managed companies, the Byers management team will continue to execute their business strategy as a wholly owned independent subsidiary of TransForce.
The acquisition is subject to customary conditions and approvals, and is expected to close by early August 2006.
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