Acquisition further enhances TransForce's LTL and TL networks across
MONTREAL, Oct. 31, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI)
(OTCQX: TFIFF), a North American leader in the transportation and
logistics industry, is pleased to announce that it has entered into a
definitive agreement to acquire all the shares of Clarke Transport Inc.
and of Clarke Road Transport Inc., two subsidiaries of Clarke Inc.
Clarke Transport Inc., a fully-integrated provider of
less-than-truckload ("LTL") intermodal transportation services,
operates a network of 15 terminals across Canada. Clarke Road Transport
Inc. offers regular and specialized truckload ("TL") transportation
The transaction is subject to customary closing conditions and should
close late 2013. The acquisition is expected to generate annual
revenues of approximately $190 million. The two acquired entities
employ a combined total of more than 600 staff and independent
"This acquisition will further enhance our density in the Canadian LTL
and TL markets. The Clarke brand name is well recognized in the
transportation and logistics industry and we are pleased to acquire
entities known for their efficiency. We are pleased to welcome Mr. Dean
Cull, President, and his team to the TransForce family. We expect this
transaction to provide a sound return on investment to the benefit of
our shareholders," 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 services to the energy sector,
waste management, logistics and ancillary transportation services.
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.
SOURCE: TransForce Inc.
For further information:
Chairman, President and CEO