Canadian carrier Vitran has announced that it has agreed in principle to acquire the assets of Sierra West Express, a Nevada-based regional less-than-truckload company. Terms of the transaction — which Vitran expects to close in January 2006 — were not announced.
Sierra West Express has operations in the western United States, including eight terminals and coverage in California, Nevada and Arizona. In the latest 12-month period, Sierra West Express posted revenues of $16 million.
“The acquisition of Sierra West Express would be another critical component in Vitran’s strategy of establishing a unique, regional LTL freight transportation network that covers and serves the entire North American market,” says Rick Gaetz, president and chief executive officer of Vitran. “Sierra West marks Vitran’s initial move into the Western U.S.”
Gaetz added that Vitran’s plan, similar to its purchase of Chris Truck Line earlier this year, is to both expand and enhance Sierra West’s regional operations and subsequently cross-market LTL and logistics services in the West to existing customers of both companies.