Trimac Income Fund announced Tuesday, Oct. 3, that it had completed the purchase of the Jeffbrett Group Partnership, a hauler for St. Lawrence Cement in Southern Ontario. Jeffbrett operates a fleet of about 50 tractors and 65 trailers with annual revenues in its last completed fiscal year of about $10 million. Terms of the purchase were not announced.
“We are very pleased with this transaction, as it expands our cement-hauling capability in Southern Ontario and introduces us to a new customer in that marketplace,” says Terry Owen, chief executive officer of Calgary, Alberta-based Trimac. “The seasonality of this business, with activity levels peaking in the summer months, will provide operating synergies for our recently acquired eastern Canadian propane transportation business, which is more active in the winter months.”
Trimac Income Fund is an unincorporated, open-ended limited-purpose trust created for the purpose of acquiring and holding an indirect interest in Trimac, Canada’s largest provider of bulk trucking services with operations from coast to coast. In addition, through its wholly owned subsidiary, Bulk Plus Logistics Limited Partnership, Trimac provides third-party transportation logistics services in Canada and the United States.
