CPX rolls into the Prairies with fleet acquisition

SURREY, B.C. — One of British Columbia’s most successful trucking companies has "set up a beachhead" in Saskatchewan for the first time.

Long-haul trucking firm Coastal Pacific Xpress of Surrey, B.C. has acquired the outstanding shares of Tri-Cal Trucking and sister company Calac Trucking of Saskatoon.

"This deal is excellent for all parties," said CPx president and co-owner Jim Mickey. "Because we serve many of the same customers, there will be immediate synergies from the outset and enhanced customer service."

Terms of the deal were not disclosed. All three companies are privately owned.

Tri-Cal and Calac have combined revenues of $34 million, a fleet of 200 trucks and a total of 250 employees, all of which will be folded into the CPx stable.

Calac operates almost exclusively in Saskatchewan, where it provides exclusive service to the Loblaw Group of grocery operations. Tri-Cal has a presence in Edmonton and Calgary and serves such customers as Connect Logistics (Alberta Liquor Board), Canadian Tire, Pepsi, Maple Leaf, Saputo, and other customers that CPx also serves.

What Recession? CPx is expansion mode says Mickey

The trucking industry as a whole might be facing stiff economic headwinds, but CPx continues to grow. Here’s a quote you don’t hear often these days:

"We are feeling highly optimistic about the future," said Mickey. "We are in expansion mode."

In May CPx also formed an alliance with Van Isle Barge Services Ltd. in Vancouver to give customers expanded service to Vancouver Island.

Tim McKechnie and Kirk Fulton each own half of both Tri-Cal and Calac. McKechnie will join CPx’s senior management team and will be based in Calgary. Mr. Fulton will consult to CPx, assisting with the integration of the companies before taking partial retirement.

"Both men bring a valued continuity to the deal, which will result in the sum being far stronger than the parts," Mickey said.

McKechnie said he was motivated to do the deal by CPx’s "driver-first" culture. "We are so impressed with how they treat their drivers," he said. "We know our drivers, many of them long term, will be well taken care of by this company."

The deal gives CPx, with offices and staff in B.C. and Alberta, a Saskatchewan office and employees there for the first time.

CPx estimates that its revenues will grow by 25 percent as a result of the deal, which is expected to close at the end of October.