MONTREAL, Que. — TransForce Income Fund has signed a share purchase agreement to acquire all outstanding shares of Westfreight Systems and Westfreight Holdings (U.S.A.).
The acquisition is subject to customary conditions and approvals, and is expected to close by early January 2007.
“The acquisition of Westfreight compliments our current capabilities at UTL Transportation Services in the heavy-haul and full load segment of the energy sector as well as complimenting the cross-border LTL service provided to the energy sector by Canadian Freightways” said Alain Bdard, chairman, president and CEO of TransForce. “With the reputation and fleet resources of Westfreight, we will have an even greater capability to provide service to energy companies and in particular their project and facility upgrade initiatives.”
Westfreight is a specialized over-dimensional and heavy-haul transportation service provider, with complimentary LTL and TL van and flatbed service. With a focus on serving the oil and gas industry, primary service lanes are between Alberta and the Texas and Oklahoma regions. Incorporated in 1989, the company’s fleet moves a variety of heavy and related oilfield equipment, and generates annual revenues of approximately $47 million.
Lance Griffin, president of Westfreight Systems will continue to lead the company along with his entire team.
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