TransForce, a Montreal-based trucking company, has met the conditions required to proceed with the acquisition of Clarke Road Transport for $88 million. The acquisition will be complete as of the new year. Clarke Transport is an Ontario-based transportation company specializing in less-than-truckload services. Based in Halifax, Nova Scotia, Clarke is a private investor in a variety of private and publicly traded companies.
Conditions Satisfied for Transforce to Acquire Clarke Transport Inc. and Clarke Roade Transport Inc.
Montreal, Quebec, December 20, 2013 – TransForce Inc. (TSX: TFI, OTCQX: TFIFF), a North American leader in the transportation and logistics industry, is pleased to announce that all conditions required to proceed with the acquisition of all the shares of Clarke Transport Inc. and of Clarke Road Transport Inc., two subsidiaries of Clarke Inc. (TSX: CKI), have been satisfied. The closing of the transaction will be effective on January 1, 2014.
Clarke Transport Inc., a fully-integrated provider of less-than-truckload (“LTL”) intermodal transportation services, operates a network of 15 terminals across Canada. Clarke Road Transport Inc. offers regular and specialized truckload (“TL”) transportation services. The acquisition is expected to generate annual revenues of approximately $190 million. The two acquired entities employ a combined total of more than 600 staff and independent contractors.
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Source: TransForce Inc.