SURREY, B.C. — The co-owner of long-haul trucking firm Coastal Pacific Xpress has sold his stake in the company, but the in-house sale is expected to keep the carrier running with business as usual.
CPx co-president and co-owner Glen Parsons recently sold his interest in the Surrey, B.C.-based carrier to Scott McIntosh, currently the company’s Calgary-based Prairie Region General Manager.
McIntosh, who began his trucking career in his native Alberta two decades ago, assumes the title of President (Operations) and will relocate to CPx’s head office in Surrey in September.
Co-owner Jim Mickey assumes the position of President (Administration). He retains his equity stake and will now manage all the administrative and financial roles, while McIntosh will oversee operations, driver management, and customer strategy.
“Glen’s innovative, tireless commitment to customer service is what built this organization into what it is today,” says Mickey. “He leaves a tremendous legacy and a strong foundation for future growth. We will tap Glen’s expertise when necessary, as he has agreed to be available as a consultant to the company well into the future.”
Parsons started in the industry in the late 1970s, when he worked for his father’s trucking company as a driver. He then owned and managed other trucking companies before joining CPx in 1995.
“My greatest career accomplishments were at CPx, where I worked with the finest professionals in the business to build a $2-million operation into one with sales last year of over $100 million,” he says. “But now it’s time to set my sights on something new. I am confident that I am passing the torch to a stellar group of managers, professional drivers and staff who will propel CPx to new heights. I leave on a high note.”
Mickey and Parsons had a 50-50 partnership in CPx since 2000. The pair had planned for many years to pass the company along to employees of the company, and not sell off to a large company.
“We’ve had that plan for six or eight years, and have invested a tremendous effort into creating a company culture that puts its people first,” says Mickey. “We wanted continuity of what we have that’s special and intended not to end up in the hands of a big company.”
There are four individuals who Mickey and Parsons have been working with over the past few years, who will become the “caretakers of the culture.” But Mickey does point out, he’s not going anywhere yet.
Along with the equity transaction, CPx appointed Laurie Forbes as vice-president, administration; Will MacLean as vice-president, marketing; and Marcelo Bohm as vice-president, strategic initiatives and senior finance leader; while acknowledging their equity participation in the company.
“The same basic business philosophies of honest value, trusting partnerships and long-term vision will continue through the transition and into the future, as the entire senior-management group embraces these as the essence of the organization,” says Mickey.
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