MONTREAL, June 4, 2014 /CNW Telbec/ - TransForce Inc. (TSX: TFI, OTCQX:
TFIFF), a North American leader in the transportation and logistics
industry, today announced that Matrec, a wholly-owned subsidiary of
TransForce, has acquired the majority of assets of Veolia E.S. Matières
Résiduelles Inc. operating under the name of Veolia Solid Waste Canada.
In the last twelve months, Veolia Solid Waste Canada generated annual
revenues of more than $30.0 million and earnings before interest,
taxes, depreciation and amortization ("EBITDA") of more than $5.0
million. The purchase price of $25.0 million, excluding estimated
working capital of $5.0 million, represents an Enterprise Value to
trailing 12-month EBITDA multiple of less than 5.5 times.
Veolia Solid Waste Canada has been operating in the Quebec City,
Montreal and the Beauce regions for more than 40 years. It offers
collection, transportation, disposal and recycling of trash and
industrial waste to municipalities, as well as to commercial and
"The transaction will allow Matrec to broaden its service offering and
increase its density in the province of Quebec. These assets will also
provide additional capacity, which should improve the efficiency of our
waste management operations," said Alain Bédard, Chairman, President
and Chief Executive Officer of TransForce.
TransForce Inc. is a North American leader in the transportation and
logistics industry operating across Canada and the United States
through its subsidiaries. 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 the following segments:
Package and Courier;
Truckload, which includes specialized truckload and dedicated services;
Specialized Services, which includes waste management, logistics
services and services to the energy sector.
TransForce Inc. is publicly traded on the Toronto Stock Exchange (TSX:
TFI) and the OTCQX marketplace in the U.S. (OTCQX: TFIFF). For more
information, visit http://www.transforcecompany.com.
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.
EBITDA is a financial measure not prescribed by IFRS and is not likely
to be comparable to similar measures presented by other issuers.
Management considers this to be useful information to assist investors
in evaluating the Company's profitability, liquidity and ability to
generate funds to finance its operations. This measure does not have
any standardized meaning under IFRS and could be calculated differently
by other companies. This measure should be considered in addition to,
not as a substitute for or superior to, measures of financial
performance prepared in accordance with IFRS.
SOURCE: TransForce Inc.
For further information:
Chairman, President and CEO