VersaCold Logistic Services has bought the assets of Gary Heer Transport Ltd, a refrigerated provider of truckload cross-border transportation services between Western Canada and the United States. No financial terms were released. VersaCold, a Vancouver-based supply chain solutions company that handles temperature sensitive products, said the deal marks its entrance into the U.S. cross-border transportation market. It plans to launch a new subsidiary, VersaCold North America Transportation Solutions Ltd, this quarter. VersaCold is backed by real estate private equity firm KingSett Capital and Ivanhoé Cambridge, an affiliate of the Caisse de dépôt et placement du Québec.
(Correction: It was previously reported by PE Hub Canada that VersaCold is backed by The Yucaipa Companies. Yucaipa sold its stake to KingSett and Ivanhoé in late 2014.)
VersaCold Logistics Services Acquires Assets of Cross-Border Transportation Company, Expanding Service Offering and Global Reach
TORONTO, Feb. 9, 2016 /CNW/ – VersaCold Logistic Services, Canada’s largest supply chain solutions company focused exclusively on the handling of temperature sensitive products, announced today that it has acquired the assets of Gary Heer Transport Ltd., the refrigerated provider of truckload cross-border transportation services between Western Canada and the United States.
The asset acquisition marks VersaCold’s entrance into the USA cross border transportation market segment and will establish the company’s newest subsidiary, VersaCold North America Transportation Solutions Limited (VNATS) – set to launch in Q1 of 2016.
“This acquisition marks an exciting time of growth and service expansion at our company,” said Douglas Harrison, President & CEO of VersaCold. “By offering cross-border transportation services through VNATS, we continue to live our vision of being our customer’s most trusted and reliable long-term partner by providing new and innovative solutions and services that enable them to achieve great business success.”
“We are proud to join VersaCold and to be a part of a team that is not only the leader in its space, but the fastest growing,” said Gary Heer, President of Gary Heer Transport Ltd. “We are excited to combine our decades of experience and expertise to provide exceptional cross-border transportation services to customers across North America.
About VersaCold Logistics Services:
VersaCold is Canada’s largest supply chain solutions company focused exclusively on the handling of temperature sensitive products. VersaCold delivers a suite of fully integrated logistics services through its national network of industry leading facilities, transportation fleet and advanced technologies that set the benchmark for accessibility, information visualization, real-time tracking and inventory management. Empowered by its commitment to exceptional service, performance driven culture and dedicated focus on continuous innovation, VersaCold is a trusted and valued partner to its clients – enabling business strategies and revenue growth within highly sensitive and regulated environments. For more information about VersaCold Logistics Services, please visit www.versacold.com
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