TransForce Income Fund (TSX: TIF.UN), the leader in the Canadian transportation and logistics industry, today announced it has signed an agreement to acquire the shares of privately held Thibodeau Group of Companies.
Headquartered in Portneuf, Quebec, Thibodeau is a less-than-truckload and truckload carrier, operating primarily in Quebec, Ontario and the United States. Closing of the acquisition is subject to regulatory approvals.
Founded in 1945, the business is led by its President, Pierre Thibodeau, son of the company founder. Thibodeau has a workforce of 815 employees and has 1,530 tractors and trailers operating out of 14 terminals. In 2006, the group generated revenues of more than $80 million.
"Thibodeau is a well-established and successful business with an exceptional track record. It will further strengthen our less-than-truckload and truckload operations in Eastern Canada," said Alain Bédard, Chairman, President and CEO of TransForce. "The Thibodeau name is well known and synonymous with the very best in our industry. We are delighted to have this trucking icon as a TransForce company."
Profile
TransForce Income Fund is the leader in Canada's transportation and logistics industry. Headquartered in Montreal, Quebec, the Fund's objective is to create value for unitholders through managing and investing in a growing network of independent operating subsidiaries. TransForce provides a comprehensive and unique combination of capabilities, resources and geographical coverage in both domestic and trans-border markets. Its companies operate in four well-defined business segments:
- Less Than Truckload and Parcel Delivery;
- Specialized Services, which includes its ancillary transportation services and fleet management & personnel services businesses;
- Specialized Truckload; and
- Truckload.
TransForce's trust units (TIF.UN) are listed on the Toronto Stock Exchange and are included in the S&P/TSX Composite Index. -- www.cnxmarketlink.com
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