Transforce concludes acquisition of Daily Motor Freight Inc.
Saint-Laurent, Que.-based TransForce has now concluded its previously announced acquisition of the majority of the assets of Daily Motor Freight Inc. a subsidiary of TCT Logistics Inc.
The new company will operate under the corporate name of Daily Transport Inc.
The transaction will boost TransForce’s annual revenues by approximately $31 million.
It will also improve the company’s position in the highly competitive less-than-truckload (LTL) sector in eastern Canada and the United States.
Kenneth R. Lockett, will continue to direct the operations of Daily Transport as president with the existing management and employees expected to remain in place.
“This is a win-win transaction for both our Company and TCT Logistics. We have acquired a good business, skilled work-force and talented management team,” said Alain Bdard, President and Chief Executive Officer of TransForce. “Daily Motor Freight’s less-than-truckload operations provide an excellent match with our existing services.”
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