Contrans Income Fund announced that it has completed the acquisition of General Freight Carriers, a specialized flatbed trucking operation based in Saint John, New Brunswick. General Freight’s operations are focused on the transportation of building products and other goods, primarily within Eastern Canada and the Northeastern United States.
General Freight — which operates about 47 highway tractors and 60 trailers, and employs 10 owner-operators under contract — recorded revenue of about $10.5 million in its most recent fiscal year ended Sept. 30. Contrans intends to continue to operate General Freight as an independent operating unit with its existing complement of management and staff. Terms of the acquisition were not announced.
“We’re pleased to announce our third consecutive flatbed trucking acquisition since October 2005,” says Stan Dunford, chief executive officer of Woodstock, Ontario-based Contrans. “General Freight is a premium-service truckload flatbed carrier with an excellent reputation in the industry and high-quality modern equipment. We hope to leverage their strengths with ours and deliver the high-quality service that General Freight’s customers have grown to expect.”
