MONTREAL, (Aug. 30, 2004) — Despite the acquirement of about half a dozen companies over the last year, TransForce’s appetite for trucking assets hasn’t ceased.

In yet another blockbuster deal, the for-hire trucking giant grew even bigger with its acquisition of Markham, Ont.-based truckload and container specialist Highland Transport. Financial terms of the deal were not immediately disclosed. The agreement is expected to close on September 30, 2004, after to due diligence and other closing conditions are completed.

TransForce Income Fund — which already operates over 7,500 pieces of equipment through a network of wholly-owned, independent subsidiaries — has clearly widened its lead as Canada’s largest carrier. Highland’s fleet currently consists of about 750 power units and over 1,200 van trailers, as well as an additional 290 container chassis.

Founded in 1967, Highland operates major facilities in Montreal, Vancouver and Moncton — hauling mainly truckload freight through nine Canadian provinces and into key areas of the U.S. The company — which routinely cracks the top 20 in Today’s Trucking’s Top 100 For-Hire Carrier survey — had revenues over $125 million its last fiscal year.

TransForce says it will run Highland as an independent division under its current president, Norm Sneyd. “We are absolutely delighted to have this opportunity to bring Highland Transport into the TransForce group of companies,” Alain Bédard, President and CEO of TransForce, said in a press release. “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.”

The Montreal-based company has been rolling steadily down acquisition trail the couple of years. After buying Toronto-based parcel delivery company Canpar and the logistics and freight brokerage business of Tri-Line Expressways in 2002, TransForce expanded in the west a year later with the acquisition of Canadian Freightways for nearly $85 million at auction last August.

TransForce — which also operates Cabano Kingsway, TST Truckload Express, and Transport Besner among others – followed up the CF deal by spending most of 2004 cherry-picking a variety of smaller Quebec carriers, including Transport George Lacaille Ltd., Transpel, and Transport S.A.S.