Montreal, Que — TransForce Income Fund, whose network of wholly-owned, independent operating subsidiaries makes it one of the largest Canadian transportation and logistics operatives, is about to get bigger.
The firm today announced the signing of an agreement to acquire Highland Transport, one of Canada’s largest truckload carriers.
The agreement is subject to customary closing conditions and is expected to be concluded on September 30, 2004.
Highland Transport’s head office is in Toronto, and it also operates facilities in Montreal, Vancouver and Moncton.
Founded in 1967, the company’s presence in the truckload sector extends through nine Canadian provinces and into key areas of the United States. Highland Transport’s revenues for its last fiscal year totaled over $125 million.
“Highland has a consistent history of profitability and a proven track record. Its very extensive reach in the truckload sector greatly strengthens our presence across Canada and in the continental United States,” said Alain Bdard, President and CEO of TransForce. He added that Highland Transport will operate as an independent division under its current president, Norm Sneyd.
TransForce Income Fund (www.transforce.ca), headquartered in Montreal, Quebec, invests in companies that provide transport and logistics services. TransForce’s wholly-owned subsidiaries operate in four business segments: Less Than Truckload and Parcel Delivery, Truckload, Specialized Truckload and Specialized Services, which includes logistics and fleet management, customs brokerage and bonded warehousing.
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