Business
TransForce Announces Acquisition of Clarke Transport Inc. and Clarke Road Transport Inc.
Acquisition further enhances TransForce's LTL and TL networks across Canada MONTRE...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\nAcquisition further enhances TransForce's LTL and TL networks across\n Canada\n\n\nMONTREAL, Oct. 31, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI)\n (OTCQX: TFIFF), a North American leader in the transportation and\n logistics industry, is pleased to announce that it has entered into a\n definitive agreement to acquire all the shares of Clarke Transport Inc.\n and of Clarke Road Transport Inc., two subsidiaries of Clarke Inc.\n (TSX: CKI).\n\n\nClarke Transport Inc., a fully-integrated provider of\n less-than-truckload (\"LTL\") intermodal transportation services,\n operates a network of 15 terminals across Canada. Clarke Road Transport\n Inc. offers regular and specialized truckload (\"TL\") transportation\n services.\n\n\nThe transaction is subject to customary closing conditions and should\n close late 2013. The acquisition is expected to generate annual\n revenues of approximately $190 million. The two acquired entities\n employ a combined total of more than 600 staff and independent\n contractors.\n\n\n\"This acquisition will further enhance our density in the Canadian LTL\n and TL markets. The Clarke brand name is well recognized in the\n transportation and logistics industry and we are pleased to acquire\n entities known for their efficiency. We are pleased to welcome Mr. Dean\n Cull, President, and his team to the TransForce family. We expect this\n transaction to provide a sound return on investment to the benefit of\n our shareholders,\" said Alain Bédard, Chairman, President and Chief\n Executive Officer of TransForce.\n\n\nABOUT TRANSFORCE\nTransForce Inc. is a North American leader in the transportation and\n logistics industry operating across Canada and the United States\n through its subsidiaries. TransForce creates value for shareholders by\n identifying strategic acquisitions and managing a growing network of\n wholly-owned, operating subsidiaries. Under the TransForce umbrella,\n companies benefit from corporate financial and operational resources to\n build their businesses and increase their efficiency. TransForce\n companies service the following segments:\n\n\nPackage and Courier; \n\n\nLess-Than-Truckload; \n\n\nTruckload, which includes specialized truckload and dedicated services;\n\n\nSpecialized Services, which includes services to the energy sector,\n waste management, logistic...