TransForce buying U.S.-based Transport America for US$310M
Deal follows on heels of TransForce's $136-million deal to acquire Toronto-based Vitran Corp. Inc.
MONTREAL—Trucking and delivery company TransForce Inc. is buying Minnesota-based Transport America, Inc., for US$310-million.
Transforce says the acquisition of the U.S. transport services provider from private equity firm Goldner Hawn Johnson & Morrison Inc. will generate annual revenues of US$350 million.
The deal, which includes the assumption of Transport America’s US$150 million debt, is expected to close at the end of June.
Transport America operates 1,500 tractors and 4,400 trailers and owns 12 terminals throughout the U.S.
Montreal’s Transforce runs package and courier services, trucking services and specialized services including waste management throughout North America.
“Transport America is an efficient, well-managed company that generates solid operating margins,” said Transforce chairman, president and CEO Alain Bedard.
This deal is the second for Transforce in less than three months. On March 26 TransForce closed its $136-million deal to acquire Toronto-based less-than-truckload shipper Vitran Corp. Inc.