TransForce Acquires Texas-based Courier Company

MONTREAL — TransForce has entered into a definitive agreement and plan of merger to acquire all the shares of Texas-based Velocity Express.

TransForce expects to generate annual revenues of $160 million from the acquisition.

Velocity has a network of more than 80 locations across the U.S. and Western Canada and employs 2,600 people, some staff and some contractors. The company provides customized, same-day regional deliveries.

TransForce Chairman, President and CEO Alain Bédard said that the acquisition increases their presence in the same-day North American package and courier market. The acquisition, he noted, reflects their “disciplined and selective approach in building our network.” Velocity has been a trusted provider for nearly 20 years, he said, and is a well-established player in Western Canada.

The transaction is set to close at the end of January.