TransForce buys again

ST-LAURENT, Que. (Jan. 16, 2004) — After remaining relatively quiet since its blockbuster purchase of Calgary-based Canadian Freightways last summer, TransForce Income Fund — Canada’s largest trucking operation — has rolled back on to acquisition trail by buying Quebec trucking company Transport George Lacaille Ltd.

Financial details weren’t disclosed, but Lacaille, based in Carignan, Que., had revenues of more than $10 million in its most recent fiscal year. “With this acquisition, we are continuing to pursue our long-term growth strategy,” Alain Bedard, president and CEO of TransForce said in a news release. “Lacaille Transport will reinforce our presence in the truckload sector, a key area of our business.”

Last year, TransForce summed up a series of smaller acquisitions by buying Canadian Freightways at auction for $69.6 million and agreed to take on $15 million in debt. CF, sold as part of the liquidation of its bankrupt parent, Consolidated Freightways, gave TransForce a more solid presence in Western Canada’s LTL market, Bedard said at the time.