Canada-based Contrans Income Fund announced that it has completed the acquisition of Spectrum Transport Ltd., a bulk transportation business serving customers with dump and tank trailers in Western Canada and the Northwest United States. Based in Calgary, Alberta, Spectrum focuses on the movement of bulk commodities, including cement, lime and similar products.
Spectrum operates 26 highway tractors, employs five owner-operators under contract and utilizes 31 dry tank and dump trailers. According to Contrans, Spectrum recorded revenue of about $7 million in its most recent fiscal year ended Dec. 31. Contrans says it will maintain Spectrum’s employees, customers and business model, but will blend Spectrum’s operations into an existing division — Tri-Line Carriers — that currently operates from offices in Calgary, Edmonton and Regina.
“Through our existing bulk trucking operations in Ontario, we have a thorough knowledge and understanding of this portion of the trucking business, and recognize that there is a lot of demand for service in Western Canada,” says Stan Dunford, chief executive officer of Woodstock, Ontario-based Contrans. “Spectrum will add to our existing presence in the bulk business in Western Canada and enhance the service and growth potential within this market.”
Terms of the transaction were not announced.