TransForce Announces Acquisition of I.E. Miller Services, Inc.

MONTREAL, Nov. 11, 2011 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a North American leader in the transportation and logistics industry, is pleased to announce its wholly-owned subsidiary, TFI Holdings USA, Inc., has reached an agreement to acquire all the shares of I.E. Miller Services, Inc. ("IE Miller"), a leading North American provider of rig relocation services, including disassembly, transportation and reassembly of oil and gas drilling rigs.

Founded in 1936, IE Miller is a subsidiary of Complete Production Services, Inc. (NYSE: CPX). It operates eight terminals strategically located in close proximity with key North American basins in Texas, Louisiana, Oklahoma, Colorado, and North Dakota.

IE Miller has approximately 400 employees and operates one of the largest and most diverse fleets of rig relocation equipment in the United States, mostly specialized in high-end, high horsepower rig movements. It also services a well-diversified base of leading oil and gas producers as well as drilling companies. The transaction will add annual revenues of approximately US$138 million. The transaction is expected to close in the fourth quarter of 2011.

"This latest transaction is an excellent strategic fit for TransForce and underlines our disciplined and selective approach to acquisitions. Their established national U.S. footprint creates significant opportunities to provide high value-added rig relocation services to new and existing customers. In addition, the transaction further allows the reinforcement of our oilfield services management team and presence in the energy services sector," commented Alain Bédard, Chairman, President and Chief Executive Officer of TransForce.

Profile

TransForce Inc. is a North American leader in the transportation and logistics industry. Operating across Canada and the United States, TransForce creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned, operating subsidiaries. Under the TransForce umbrella, companies benefit from corporate financial and operational resources to build their businesses and increase their efficiency. TransForce companies service four well-defined reportable segments:

  • Package and Courier; 
  • Less-Than-Truckload; 
  • Truckload, which includes specialized truckload and dedicated services;
  • Specialized Services, which includes waste management, energy sector services, logistics and ancillary transportation services.

TransForce Inc. (TFI) is publicly traded on the Toronto Stock Exchange (TSX). For more information, visit http://www.transforcecompany.com.

Forward-Looking Statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of TransForce. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for TransForce's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.

SOURCE TRANSFORCE INC.

For further information:

Investors:      
Alain Bédard
Chairman, President and CEO
TransForce Inc.
(514) 331-4200
abedard@transforcecompany.com  
Media:
Rick Leckner
MaisonBrison Communications
(514) 731-0000
rickl@maisonbrison.com

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TRANSFORCE INC.

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