MONTREAL, Que. — TransForce Income Fund has completed the acquisition of Services Matrec Inc. and its subsidiaries.
Services Matrec Inc., formerly known as SITA Canada Inc., is a waste management company in Quebec with headquarters in Boucherville. The company and its subsidiaries specialize in the integrated management of industrial, commercial and residential solid waste collection and treatment including waste, recyclable materials, yard waste, construction and demolition materials, and hazardous waste.
Matrec has 1,000 employees and annual revenues of $125 million.
Matrec is a logical addition to the TransForce companies because it’s part of a growing industry with steady and growing cash flows as well as opportunities for consolidation, reasoned Alain Bdard,Chairman, President and Chief Executive Officer of TransForce.
Charles Tremblay will continue as President of Matrec, reporting directly to Bdard.
The company will be included in TransForce’s Specialized Services business segment.
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