Trimac Corp. buys U.S.-based firm as the cornerstone of a new logistics subsidiary
CALGARY (April 8) — Trimac Corp. has acquired a Florida-based thrid-party logistics firm and will combine it with its existing supply-chain management businesses to form a new subsidiary, Trimac Logistics Inc..
Trimac Logistics will provide non-asset based logistics services to manufacturing and distribution industries as well as to transportation providers throughout North America, said Trimac Corp. president and CEO Jeff McCaig.
He said the acquisition of Service and Administrative Institute Inc., a 12-year-old company based in Jacksonville, Fla., and the formation of the new division positions Trimac “to better meet the need of shippers and to increase its participation in the high growth logistics business.”
Financial terms of the purchase were not disclosed.
Cort Dondero, former owner of SAI, has been named president of Trimac Logistics Inc., which will be headquartered in Ponte Vedra Beach, Fla. Mike Neumerski, who managed Trimac’s existing logistics business, will serve as vice president.
Calgary-based Trimac Corp. provides services in the highway transportation of bulk commodities and truck fleet management.
Trimac’s shares closed yesterday’s trading on the Toronto Stock Exchange at $6.60.
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