Contrans Income Fund completes acquisition of Clark Transportation

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WOODSTOCK, Ont. — Contrans Income Fund announced yesterday that it has completed the previously announced acquisition of Clark Leasing Limited (Clark), a business that operates as Ken Clark Transportation.

The trucking business of Clark recorded revenues of approximately $11 million in its most recent fiscal year ended June 30, 2003, and Clark’s EBITDA for the same period, after adjustments to reflect the purchase was approximately $2.5 million.

As previously reported, Clark operates from a terminal in Perth Ontario, providing a range of truckload transportation services utilizing refrigerated and dry van trailers and ocean containers. Clark operates a fleet of 50 company trucks within Ontario, Quebec and the eastern U.S.

It is the intent of Contrans to continue to operate the company as an independent operating unit with its existing complement of drivers, management and staff.

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