TransForce Income Fund announced that it has signed an asset purchase agreement to acquire Howard’s Transport Services Inc., headquartered in Stony Plain, Alta. Terms of the purchase were not announced.
TransForce, a Montreal-based transportation and logistics company, says Howard’s Transport Services is a specialized trucking company with a fleet that moves a variety of heavy oilfield-related equipment, including drill rigs. It generates annual revenues of about C$20 million, according to TransForce.
Howard Moeller, president of Howard’s Transport, will lead the company for the next year in an advisory role. The acquistion is expected to close by early September.