Entrec Transportation Buys Jay Reid and Trak Equipment
SPRUCE GROVE, Alta. — Entrec Transportation Services Ltd. has begun expanding by signing two deals to acquire Trak Equipment Haulers and Jay Reid Trucking Ltd.
Both Jay Reid and Trak Equipment Haulers specialize in over-sized and over-weight equipment for the oil and gas and construction industries.
Assets from Trak Equipment Haulers will be folded into Entrec’s Spruce Grove division, with Jay Reid assets moved to Entrec’s Bonnyville, Alta. location.
"We are experiencing a high demand for our services," said Rod Marlin, Entrec’s chairman and CEO, in a press release, "and this acquisition will help provide the additional equipment and manpower resources we need to meet this demand."
Entrec expects the Jay Reid deal to close on October 24th and the Trac Equipment Haulers deal to be finalized on November 1st.
With Jay Reid and Trac Equipment combined, Entrec will add two pilot trucks,12 tractor units, and over 40 trailers to their existing operation.
The two deals will run Entrec roughly $4.8 million.
Entrec expects $6 million in revenue to be generated from the time the ink on the paper dries to December 2012.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.