Trimac buys liquid gas hauler
CALGARY — Bulk trucking giant Trimac Income Fund has completed the purchase of the Alberta-based Logistics Express, Inc. (“Logex”) for about $1.7 million.
Logex transports liquefied gases such as oxygen, nitrogen and carbon dioxide primarily on behalf of industrial gas manufacturers. Trimac acquired 15 trailers and 31 independently owned tractors.
Trimac’s U.S. affiliate concurrently acquired the U.S. based business and assets of Logex.
Annual revenues for Logex are about $6.0 million.
“We are very pleased with this acquisition as it compliments our compressed gas business in western Canada and expands our existing customer relationships in this product line,” said Terry Owen, CEO.
Trimac is Canada’s largest provider of bulk trucking services with operations from coast to coast. It ranks at No. 14 on Today’s Trucking’s Top 100 for-hire carrier list.
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