TransForce acquires Tri-Line freight brokerage business
MONTREAL (Feb. 1, 2002) — TransForce Inc., Canada’s largest for-hire trucking operation, said today it has acquired the logistics and freight brokerage business of Tri-Line Expressways, which went into receivership last week along with its corporate parent, TCT Logistics.
Financial details were not disclosed. TransForce said Tri-Logistics, based in Mississauga, Ont., would be renamed Trans4 Logistics and would add $25 million in annual revenue. Denise Cardy will be retained as the group’s top executive, TransForce said in a news release.
Tri-Line’s brokerage operations are separate from its full-load trucking and High-Tech Express operations, which were part of the Tri-Line Trucking Group acquired by TCT Logistics from Tri-White Corp. for $44 million in April 2000.
The purchase is being made from KPMG Inc., acting in its capacity as interim receiver of Tri-Line Expressways. The deal is subject to Ontario court approval.
TransForce is a diverse transportation and logistics operation. Among its most notable subsidiaries are Cabano Kingsway and TST Solutions.
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